Processing credit cards through the internet is gaining popularity due to the ease with which it can be used, its speed, security and cost effectiveness. For individuals who have online stores, payment with credit cards provides customers the choice to buy goods from a site by just clicking the mouse at any time.   Credit Card Processing  In order to [...]

Keeping your financial records up to date won’t be a problem if you do what is necessary on a regular basis. Though particular accounting needs may vary somewhat, the following checklist will help you understand the most common tasks required to maintain accurate accounting records. Daily: Total all cash on hand. Record income. Enter a summary of sales and cash [...]

Most self-made millionaires will tell you that they didn’t come by their wealth easily. The story of a millionaire who had several businesses go under before making a fortune and stories of millionaires who made fortunes, lost them and made them again are commonplace. Home-based entrepreneurs also go through tough times running their businesses that requires the the exercise of [...]

Expected Cash Receipts: 1. Cash sales 2. Collections on accounts receivable 3. Other income 4. Total cash receipts   Expected Cash Payments: 5. Raw materials 6. Payroll 7. Other factory expenses (including maintenance) 8. Advertising 9. Selling expense 10. Administrative expense (including salary of owner-manager) 11. New plant and equipment 12. Other payments (taxes, including estimated income tax; repayment of [...]