Petty cash - cash for the purposes of small miscellaneous purchases such as postage. “The intricacies of small business accounting often fall outside the expertise of the common entrepreneur,” Sutherland said. Of course, you should be saving merchant receipts as well. Portfolio Manager at National Real Estate West line Aviation, University of Cape Town, West line Aviation, Grey College Associate Controller & Director of Business Finances at Winston-Salem State University Greensboro/Winston-Salem, North Carolina Area Associate Controller amp; Director of Business Finances at Winston-Salem State University, Member and Volunteer at St. Chances are, a good tax professional can help you find ways to maximize your business deductions and find other methods to help maximize your return. These can be cash or something that can be converted into cash such as property, vehicles, equipment and inventory. Please choose a link from below to learn more about small business finances. Many investors move up from residential investment to commercial investment because they have collateral to sway banks when it comes to granting loans.
Last year, Highmark lost an additional $590 million on those plans. Mylan launchesgeneric version of Rythmol Mylan announced the U.S. launch of the generic version of GlaxoSmithKlines Rythmol extended release tablets used to treat patients with irregular heart beats. Johnson & Johnson to buy Vogue Hair Care for $3.3B Johnson & Johnson is making its biggest acquisition in four years with the $3.3 billion agreement to purchase closely held hair-care company Vogue International, in an effort to accelerate growth at its smallest unit, the consumer division. While J&J makes most of its sales from drugs or medical devices, the health care giant has a long history in consumer products, with storied brands such as its baby-care line, Band-Aid bandages, Listerine oral care and Neutrogena hand cream. The purchase will add brands such as OGX shampoos and conditioners.
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Originally published on Business News Daily. Interest rate - a percentage used to calculate the cost of borrowing money or the amount you will earn. Know when to invest profits and when to blow them back into your business. It's often said that a company's books are like the foundation of a building: Without it, you just can't build very high. Separation of personal and business funds I recommend using separate accounts for your personal and business funds. Find Accounting Software is a free tool that helps find exactly the right solution through a detailed questionnaire. Assets - are things you own. Finally, I scan everything to my hard drive and back it up to an external hard drive for additional protection against data loss. Be sure to communicate with him often and schedule regular meetings to go over the results of your efforts.