PABS
Effective inventory management is crucial for the success of any business, ensuring seamless operations and customer satisfaction. Neglecting this practice, surprisingly, 43 percent of small businesses in the United States tracking their inventory. A trend notably prevalent in auto repair industry, where almost 36% of shops struggle with shortages of essential auto repair parts. And […]
Being a construction company owner, you would be aware of the five most popular accounting methods – job order costing, activity-based costing, production order costing, functional depreciation, and the completed contract method. Which one is right for you? Of course, the optimal construction accounting method varies depending on the unique needs and circumstances of your […]
At the end of the financial or fiscal year, you gather income, expenses, assets, and liabilities and record them in a standard set of financial statements. Once organized and reconciled, these year-end financial statements help you better understand your business’s financial position. While these statements are essential all year round, they never matter more than […]
Count down to the new year has begun. Now is the time to review your financial journey, where you are and where you are heading to, wrap up pending tasks to accomplish goals for 2023 and plan what you want to accomplish in 2024. Year-end accounting plan looks a little different for everyone. It’s a […]
As a small business owner, you’re likely wearing many hats—juggling everything from product sourcing to inventory management, front-end work, human resources, marketing, and more. With a mile-long to-do list, bookkeeping often falls by the wayside. In fact, a curious revelation emerges as 60% of owners confess to lacking sufficient knowledge in bookkeeping. Yet many of […]
Ho Ho Ho! The holiday season is right around the corner. While the holidays bring a very merry and joyous time of the year, you can also feel quite stressed with accounting backlogs and unprepared books. Well, it’s the busiest time of the year as you have to prepare for year-end financials. But are your […]
Starting a retail shop or franchise can lead to both thrill and fulfillment. It’s obvious that the journey will also have multitudes of obstacles and hurdles. 16.7% of retail businesses fail in the first year and only 30.4% managed to stay afloat beyond the initial five years, showcasing a low survival rate. When you look […]
