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May 1, 2020

If your business has been struggling, you might be seeking out short term cash advances to get by. Whether it’s an unexpected emergency, downturn in sales, the inability to find another source of capitalor even a global pandemic, most businessowners have or will, at one point, find themselves in a financial crunch.

Business credit card advances can be a real boon when you need money fast, but thespeed and easier access means that you need to consider the drawbacks, too. Credit card advances come...

April 2, 2020

Many small business owners in “non-essential” industries are finding themselves at a loss right now, thanks to the COVID-19 pandemic. As more and more states issue “shelter in place” orders, which closeschools andnon-essential businesses,and require residents to stayhome, the economy is greatly affected. Experts estimate we could be seeing shelter in place orders extended into the summer. For many small businesses, a months-long lack of income can prove fatal.

If you’re a small business owner who...

March 16, 2020

Maybe half of the reason you embarked on a creative professionis that you didn’t want to track things like billable hours and finances. This is understandable, except that you have to do so in order to create a business that can survive. Finances might be the least fun part of your creative business, but they don’t have to be a burden. Here are our best tips for making sure you keep track of your time so that you can keep your business in business.

Why you need to track your hours

We get it—when y...

January 28, 2020

The project-centric nature of construction accounting makes for some unique processes that either don’t exist or don’t play a large role in other industries. One of these is the process of job costing.

Basically, job costing is used alongside the accounting general ledger (G/L) to track and report transactions specific for every individual job the contractor takes on. While the G/L is used to track financial information across the entire company, the job costing process is used on a narrower scop...

January 21, 2020

Contract retention, also occasionally referred to as contract “retainage,” is the amount of money that gets held back from (or retained) from a contractor or subcontractor during the construction process. This is a practice that is quite common within the construction industry, but not as common in other types of industries. You’ll often find construction contracts mandate a certain portion of the contract price (usually five to 10 percent) gets withheld until the project is completed. This can...

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