Keeping track of your financial transactions is one of the most basic tasks a business owner must perform. If you don’t know where your money is going and how much is coming in, you won’t be able to make smart business decisions. General ledgers are record-keeping systems. Each financial transaction is recorded twice (a credit …
When you’re a small business owner, monitoring your financial performance is an important way to measure your success. Comparing your company’s financial performance to your competitors will help you determine whether you’re keeping up with the competition, pulling ahead, or lagging behind. While it’s always good to have a baseline performance indication, it’s also a …
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