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The accounts payable (A/P) turnover ratio is a liquidity measure that shows how fast a business pays its suppliers during a specific period. The A/P turnover formula is: Accounts Payable Turnover = Total Credit Purchases Average Accounts Payable Accounts Payable Turnover Ratio Calculator Generate A/P reports faster by using accounting software.

IRS Form 1099 is a series of forms used to report certain types of income that don’t come from a direct employer in the form of wages, salaries, tips, etc. Form 1099-NEC (nonemployee compensation) is the most common version, frequently used by small business owners. If

The inventory turnover ratio is an efficiency ratio that measures the number of times a company sells and replaces stock during a set period, generally one year. While you shouldn’t base decisions solely on it, a high inventory turnover is generally positive and means you

Personal trainer insurance coverage refers to a policy or group of policies designed to protect a personal trainer’s business assets. Personal trainers need muscular coverage, so to speak, and it typically starts with a general liability policy, which covers the costs of common lawsuits business

An OTB plan helps you have the right product quantities at the right time to maximize sales and minimize over-buying.

A floating holiday is a paid day (or days) off for employees outside the traditional allotment of paid holidays. Unlike those traditional holidays, which are set by the company, floating holidays are more flexible and can be used to accommodate individual needs and preferences. Companies

A moonlighting policy (also known as an outside employment policy) safeguards employers from potential conflicts of interest without needlessly limiting employees’ rights and options for working additional jobs. Employees working second jobs doesn’t typically concern employers, but in some cases, it can impact the employee’s

Cost of debt is a figure that shows how much you’ll pay for borrowing funds. It can be calculated as either an annual pre-tax percentage or an annual after-tax figure by using your company’s tax rate. The pre-tax figure can be calculated by taking the

By following our 10 cash flow management tips for small business operations—including not paying bills until due, utilizing a credit line, investing excess cash, establishing a petty cash fund, and determining your cash conversion cycle—you can meet short- and long-term cash requirements and optimize return

Payroll for nonprofits is the process of managing and compensating employees within a nonprofit organization, ensuring compliance with tax obligations, and handling employee benefits. The process goes the same way that for-profit businesses do; however, there are some differences depending on your organization’s structure and

The list below includes the most common business expense categories that a small business may encounter; it’s not an exhaustive list. In general, you may deduct expenses that are ordinary and necessary for your business. The IRS website defines “ordinary” as something common for your

An employment background check is a process for verifying a candidate’s background and qualifications and screening for red flags by checking criminal records, credit reports, driving history, and more, when applicable. Before conducting one, it is important to implement a background check policy to ensure