Category: Business Credit

Like the balance sheet or profit and loss statement, the income statement is one of the reports that companies of all sizes should have an idea how to utilize. Here's a breakdown of an income statement to know what they look like and which information should be included. Free Income Statement Example What is an income statement? This type of statement, or report, shows how well a company or organization performed during a specific period of time. It is based… Read More

As a small business owner, you likely wear many hats. You’re at once a product developer, marketer, and a customer service representative. But, one of the most overlooked tasks you may have is accounting.  Managing your company’s books is a time-consuming and complex process, but it’s necessary for your business’ success. If you plan on applying for a business loan, it’s important to pay attention to key financial topics and learn how to create and read balance sheets so you… Read More

For small business owners, limiting expenses and maximizing profits are a top priority. But one area where it can be tough to save money is with your business checking account. There are very few options available that don’t charge a fee, and many “no-fee” business checking accounts require that you keep a minimum balance to qualify.  Opening a business checking account is crucial for keeping your business and personal finances separate. It can make filing taxes for your business simpler,… Read More

There are times that small business owners accidentally allow their business insurance to expire. They’re bad people with no redeeming qualities. Just kidding - it’s not totally uncommon for a business to forget to make a payment or to miss their insurance renewal date. And while it does happen, that doesn’t mean it’s no big deal - there are consequences and risks to not having insurance coverage for your business. While you're at it, keep an eye on your business… Read More

Ally is a hugely popular online bank that offers checking and savings accounts as well as auto loans and mortgages. Regularly appearing on lists of the best online banks, Ally is known for its high-yield savings accounts where you can earn an APY that is 10 times the national average. But when it comes to business checking, there are other options you’ll want to consider.  Can You Open an Ally Account for a Business? If you’re a fan of this… Read More

As a small business owner, you’ve got a lot on your plate, and it might seem easier and more convenient to use the same credit card for your business and personal expenses than to completely separate the two.  There are many reasons to separate your business and personal finances, but could it be considered theft to swipe your business card for non-business purchases? It depends. Is using a company credit card for personal use embezzlement? The term embezzlement carries a… Read More