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Accounting

Ten Accounting Jargons that Small Businesses Must Know

No matter what industry you work in, all of them come with their own buzzwords and acronyms that do not make much sense to anyone on the outside. And if you are running your own business, you end up wearing a lot of hats. Sometimes, you are required to deal with clients from different industries and it is absolutely crucial that you familiarize yourselves with their jargon. Here is a checklist of accounting terms that every small business owner must know:

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Accounting

How to Build and Maintain Corporate Credit

There are many advantages to building corporate credit, but the major one is the ability to get funding or loans without using personal credit. When a business owner uses personal credit to secure equipment or funding, lines between business liability and personal liability blur. This means that if the business is no longer able to satisfy the loan payments then the business owner is personally liable to offset the debt and this could end up having a devastating effect on his/her personal credit score/report.

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Accounting

Outsourcing Accounting and Payroll – What Makes It the Best Option for Your Business

Handling certain business functions like accounting, bookkeeping and payroll management requires a lot of time, effort and attention. However, for business owners who already have too many responsibilities to handle, making time for these tasks can be difficult. Often, they get too involved in managing these operational functions, which can take as much as 50% of their time. As a result, they lose focus from what really matters for making their business a success. What can be done to avoid this pitfall?

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Accounting

7 Techniques to Building and Maintaining Personal Credit Score

Simply put, personal credit is a summary of your financial information on file with various credit bureaus such as Experian, Equifax, or TransUnion.

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