11 Cash Flow Management Rules for a Rapidly Growing Business

We have said this before, and at the risk of sounding irksome we’ll say it again because it is the gospel truth: companies fail, not because of bad sales, but on account of bad cash flows. And this is especially a problem for companies that are growing rapidly. Bad cash flow is one of the 3 insidious accounting issues that …

What You Need to Know About Accounts Receivable

What is accounts receivable (AR)? Simply put, accounts receivable is all the money owed to the business by its customers or clients, and the processes of collecting it. This includes invoices or bills sent (until they are paid), tracking of the payment, and the reconciliation of payments with invoices. Since your AR is money owed to you, it becomes an …

5 Steps to Recording Daily Sales on QuickBooks Online

In our previous blogs we have discussed how to set up the payroll in QuickBooks and mistakes to avoid when invoicing. However, some businesses don’t require invoicing. What they do need is to know the right way to record daily sales. If you have read our blog where we discussed 4 beginner’s lessons in QuickBooks Online to avoid making a …

Real Estate Companies Can Outsource Their Accounting. But Should They?

At the onset your fears of outsourced accounting can be assuaged in the knowledge that the real estate property management industry is one of the leading sectors to extensively adopt outsourcing in order to improve processes, cut costs, and scale limited overheads. In an earlier blog we talked about when it is the right time to outsource your real estate …

Help Yourself with Tackling Your Payroll Rigmarole

KYC (aka) know your customer, or in this case, your employee You need to know some basic things about employees to be able to withhold a part of their salaries for income tax, social security or Medicare taxes. Basic information like social security number, address, marital status, number of children etc. are required (and need to be updated as and …

Yardi’s Genesis 2: a tidy overall review

Yardi is a very familiar name among property managers. This time they have come out with a new, versatile and cost-effective property management and accounting software, Genesis 2, for small to mid-sized portfolios. Genesis2 supports many property types – residential, commercial, affordable property, condos and HOAs (home owner’s association), self-storage, offices, retail – typically anything less than 1000 units or …

Are You Practicing One of These 5 Property Management Ineptitudes?

While the entry barrier for property management companies is low, it is hard to find success in the industry. Companies that have folded in barely a few years have typically made the following mistakes, that you must avoid: Failure to maintain books It is an imperative and fundamental rule that any company needs to keep their books properly to stay …

This Easter, learn how to record cash sales with a discount

With the Easter season around the corner, all stores would be exploding with all kinds of sales! Having sales and offering discounts are a big part of any shop – from the little bakery down the road to the biggest retailers having global presence. While this is an excellent idea, how do small and medium businesses record these discounted prices …