May 2024

Understanding Break-Even Analysis to Determine Your Business’s Viability

For small business owners, understanding your venture’s financial health is the key to long-term success. One powerful tool in your financial toolkit is a break-even analysis. This method allows you to determine the point at which your business covers all its costs and begins to generate profit. Here’s how it works. Understanding break-even analysis Break-even …

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How to Handle Petty Cash: Best Practices for Accountability

Petty cash often plays a significant role in day-to-day small business transactions. From purchasing office supplies to covering minor expenses, having a petty cash fund can streamline operations and provide flexibility. However, managing petty cash requires diligence and accountability to ensure that funds are used appropriately and recorded accurately. What is petty cash? Petty cash …

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