Building a Basic Accounting Process.

The Accounting Cycle: As a business owner, it is important to keep accurate records. Not only for external reporting purposes, but also to monitor the internal health of your company, if you are running a business check this useful tips for a new business owner. In the past, we have provided details on checking the health of your company (see “Taking Your Pulse”, “Your Assets”, and “Measuring Profitability”). But before, you can do this, it is important to ensure that … Continue reading

How does “Cash-Trust Account” work?

Lately, we’ve been receiving a number of questions about how the “Cash-Trust Account (Tracking)” section works in the Back-Office module. So, we decided to put this quick reference together for you. Please note that the “Cash-Trust Account” section is only useful for those agencies that maintain a separate “Trust” Bank Account where customer payments received are first deposited and supplier payments are made, with the leftover commission then being transferred to a “General” Bank Account. This is usually due to … Continue reading

Health Check: Measure Profitability

Here’s the last set of ratios I will discuss in this series on conducting a health check of your company: Profitability ratios. There are various other types of ratios that we have not discussed here that you can also perform, if applicable to your business. Now let’s look at “Profitability Ratios”. What does it mean: Profitability ratios provide a measure of how successful your travel business is in terms of generating commissions relative to sales or resources invested in the … Continue reading

Health Check: Your Assets

Let’s get right to it. Previously we wrote about liquidity ratios, which provide good indications on how quickly you are able to pay off short-term debt, and hence how cash rich your company is. If you ahave business and your looking for get a loan check this loan approval tips for business. . Now let’s look at “Asset Turnover Ratios”. What does it mean: Asset turnover ratios provide a measure of how efficiently your business utilizes its assets. Our focus here … Continue reading

Health Check: Taking Your Pulse

At this time of year, many small businesses are busy preparing/finalizing their year-end financial statements for tax purposes, for submissions to other parties (e.g. regulatory bodies), and for some, to measure the state of their companies. Periodically monitoring the health of your business is always a good practice, especially during these recessionary times. It may give you some real insights into your business, help you identify any problem areas and focus and plan for the future. We’ve put together some … Continue reading