Amanda Cameron

Do you use a personal checking account for your business transactions? If you do, you may want to open a business checking account. There are many benefits of a business checking account. As you continue to grow your company, keep these business bank account benefits in mind.

Selling a business comes with a lot of questions and important decisions. One of those choices is deciding on a price for the business.

You’re a business owner, not an accountant. But, you probably handle some of your accounting tasks. You need to know some basic accounting terms to manage your books. An important term to understand is net profit. What is net profit? Net profit is an important figure on your income statement.

If you own a seasonal business, you know that managing the highs and lows of your sales can be a challenge. Do you know how to make money year round, despite business seasonality?

As a seasonal business owner, your inventory is inconsistent year round. At the beginning of and throughout your busy season, you need a lot of inventory to run your business. But when your slow season starts, you need to get rid of inventory. It takes careful planning to avoid excess inventory in your seasonal business.

Though seasonal businesses are only open during certain months, handling the books is a yearlong job.

All companies need to record business activities to avoid an IRS tax notice or penalties, and to track progress. But, do seasonal companies have the same rules for small business recordkeeping as year-round companies?

Once your business’s busy season hits, you don’t have time to slow down for bookkeeping issues. Use these strategies in your program for small business accounting to streamline and grow your business.

A seasonal business has high and low periods in revenue. During low sales months, it may be difficult to pay expenses. But, the expenses are usually necessary to operate and grow your business. How do you manage a seasonal business cash flow? You could use seasonal business loans to pay costs during the low season.

If you own a seasonal business, you know that cash flow is a crucial part of your finances. Cash flow is the money that comes in and out of your business. If you only operate for part of the year, you need a plan for your seasonal business cash flow.