According to a survey conducted by OnPay in 2019, over 87% of small businesses reported that they turned to their accountant for advice on several business areas. Apart from maintaining the books and filing taxation for the company, an accountant also has the knowledge to help you choose your business structure, create your budget, process…
Month: February 2022
Common Cash Flow Problems Faced by SMEs and How to Solve them
According to official statistics by the Government of India, small and medium enterprises (SMEs) make up 95% of the total industrial units in India, with a whopping 4.25 crore industrial units that account for around 45% of the manufacturing output of the country and employ 40% of the skilled workforce. However, the hard truth is that…
Top 5 Ways to Automate Your Payment Collections Process
For every business the collection of payments can be frustrating and time-consuming. It can become a full-time job, even with making collection calls, filing paperwork, and keeping track of each outstanding account. The difficulty is that many small business owners do not have the resources to devote a full-time effort to collecting payments, and they…