Why should a business conduct a financial analysis?

Financial Analysis involves using financial data (income statement, balance sheet, and cash flow statement) of an entity to assess a company’s performance and make recommendations about how it can improve going forward. Some organizations are reluctant or hesitant to look into the numbers of their books because they either might have improper records or generally …

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Is outsourced accounting with Built worth the cost?

Outsourcing Accounting services is defined as purchasing an accounting service from an outside vendor rather than hiring an in-house Accountant. The prime objective of outsourcing an accounting service is to reduce costs. As companies grow, the amount of paperwork explodes too. This leads to  several problems, from overburdened employees to outdated and inefficient processes through …

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How to create and issue an electronic invoice in Built

In this article, we will discuss how to create and issue an electronic invoice using the Built accounting application. However, it is important to understand the meaning of an invoice and what it entails. An invoice is a document issued by a supplier to a customer indicating a sale made to the customer. It usually …

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Management of cash flow

Cash flow is very crucial to the survival of any business. An increase in the profits of a business is a good sign of growth but the focus should also be placed on how to manage your cash. Negative cash flow can harm the business even if the business is profitable. You may be making …

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Your business’ cash is not your cash

It is a widely known convention in accounting that a business is an entity, separate from its owner(s). It is also very essential for the survival of a business to separate the business transactions from that of your personal activities. However, a lot of sole proprietors withdraw cash and other assets from their businesses as …

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Understanding the importance of inventory management

For many businesses, specifically in the manufacturing and distribution industry, companies such as manufacturing and distribution, inventory represents a large, if not the largest, portion of their assets. Therefore, it is important that management understands how to effectively manage their inventory. In this article,we will learn the importance of a good inventory management system. Inventory …

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Obtaining funding for your small business

Obtaining funding for your small business The survival of every business depends on the availability of funds and the efficient management of the funds. Proper management of capital propels a business to grow and that might in turn require additional funding for the continued growth of the business. Financing business is securing capital for business …

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