Accounting | Business | Finance | Planning
Unlocking the Power of Profit Margins: A Guide for Small Business Owners
As a small business owner, you wear many hats. From managing daily operations to crafting marketing strategies, your to-do list is never short. Amidst all these responsibilities, there’s one crucial aspect of your business that you shouldn’t overlook: profit margin. Understanding and monitoring your profit margin can be the key to unlocking greater financial success…
Accounts Receivable
What are Accounts Receivable and Why Do They Matter? Accounts Receivable are one of the most important components of your revenue line. Very simply, accounts receivable are money you are expecting to flow into your business as a result of work performed or goods and services dispensed. As a business owner you sell a product…
Mastering Accounts Payable: A Guide for Small Business Success
As a small business owner or financial manager, optimizing your accounts payable (AP) process is crucial for maintaining healthy cash flow and strong vendor relationships. Let’s explore key strategies to enhance your AP management, focusing on fraud prevention, optimized timing, and cost reduction. The Foundation of Effective AP Management Centralized Invoice Processing Implement a centralized…
Accounting | Business | Finance | Planning
Accounts Receivable
What are Accounts Receivable and Why Do They Matter? Accounts Receivable are one of the most important components of your revenue line. Very simply, accounts receivable are money you are expecting to flow into your business as a result of work performed or goods and services dispensed. As a business owner you sell a product…
How should I pay my vendors, and what the heck is an EFT?
It’s the middle of the month and you know it’s almost time to start paying the bills you’ve received from your vendors. You haven’t been surprised by any of the expenses—you’ve planned for each one and knew they were coming. Great work! Your preparation only leaves you with one question: how should you process each…
Empowering Entrepreneurs – fueling success
BMO Harris has joined up with Arena to be fueling growth and expanding possibilities for entrepreneurs. On November 18, 2021, founders Heather Tuason of Arena Pay and Amber Payden of ThinkSMARK held a discussion that explored their motivations behind reasons for starting their businesses, how they are supporting other entrepreneurs, and provides helpful advice to…