SBA loans are ideal when you want to expand your small business. Although, they do have downsides you need to be aware of.Particularly when you place your personal assets at risk to cover the loan if your business defaults on loan repayments.SBA loans are typically personally guaranteed to mitigate the potential risk of lending funds to a small business. However, that may need more business collateral. In addition, other business shareholders might also be required to sign limited or unlimited personal guarantee loan agreements.Even though applying for an SBA business loan may seem straightforward -

Managing a project can be a very stressful activity. Your responsibility is to complete the project of the desired quality to the client's satisfaction timeously. On top of this, you must ensure that the project is completed within budget. The purpose of any project is to make a profit, after all. You might wonder if there are any best practices to follow to keep the numbers clean.There are five project accounting best practices that, when implemented, would assist the project management team in keeping the numbers clean. These best practices include compiling a realistic budget,

Bank reconciliation is a critical internal tool to detect and prevent fraudulent activities. Most companies globally use bank reconciliation to identify any banking or accounting errors. It explains the differences between the bank balance position and internal accounting cash balance records. Despite the process being tedious traditionally, modern technology has disrupted the industry.Bank reconciliation is not tedious if the correct systems are implemented and followed. The best bank reconciliation practices include maintaining all documents and records, performing triple reconciliations, analyzing the bank statements monthly, and identifying discrepancies.It is essential for all companies globally to perform

I can't tell you how many hours I've spent with an accountant at year end looking at the records and thinking "damn, how did I get into this mess".  The reality is that while operating a growing business and dealing with the headaches of such (like your 3 employees that decided they needed a day off in the middle of the week), sorting out transactions is just a low priority.  BUT as it did, in my case, it all catches up to you in the end!  Paying a CPA hourly to sit with you and

Being a project manager can be very stressful. You must ensure that the project is completed without unnecessary delays, which could be stressful enough. However, sticking to the budget adds to the project manager's worries. So project managers often want to know what the project accounting best practices are to help them stay on budget. There are several best practices in project accounting, but implementing just five of them would help your project stay on budget. These include budgeting, using a Project Accountant and Project Accounting software,  identifying critical areas to focus on, and regular reviews