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 …

When a Virtual Firm Meets Face-to-Face

Many small to medium businesses are going the way of virtual firms. While this type of organization has several advantages, there are also a few pitfalls. Interestingly, periodic face-to-face meet-ups can address these issues and spur the organization to innovate achieving new milestones for further success. Advantages of a Virtual Firm Employee Flexibility At a virtual firm, the flexible work …

6 Tips to Reduce Late Rent Payments

Accounting for property management is complicated enough without further hassles thrown in. And that’s exactly what late rent payments are – a spanner in the works. They interfere with your cashflow and this can have other consequences. You might need to delay repairs or find alternatives to make vendor payments. You could even overdraft your bank account. Late rent can …

One Conclusive Approach to Help Your Business Perform Better

You own a small business. You run it. You run all its operations. You are master and slave, and employer and employee, and taker-outer-of-the-trash, too. Then you do your accounts. And bungle it up. And give yourself a miscalculated account of what fuel your business is running on.   Small and medium businesses usually see one person running the show, …

5 Property Management Accounting Practices the Industry Bigwigs Follow

With real estate, property management doesn’t end with finding new renters, changing fused bulbs and fixing leaks in the ceiling. Those are routine. The larger part of the task is managing your finances. This essentially boils down to accounting and accounting practices that bolster rather than blight the development of your business. What can you do to manage your accounting …

A Guide to Paying Bills in QuickBooks Online

For years, QuickBooks has changed a lot in Business Accounting. It has advanced features that make it highly useful even for non-accountants. QuickBooks enables users to manage each of their accounting tasks, including accounts receivable, accounts payable, financial reporting, credit card management and lot more. Apart from these essential accounting tasks, QuickBooks also can be efficiently used to pay bills. …

7 Tips for Managing Stress While Running an SMB

Stress is one of the inescapable aspects of life, especially modern digital life, and sometimes it can get the best of you. This is especially true for entrepreneurs, including those with SMB. Saying stress is bad is a bit of an oversimplification as stress is often a necessary driving force in our lives. However, when stress gets out of control …