A retail commission structure is when a business compensates an individual each time they close or contribute to a sale. Retail commission structures take many forms, from fixed to variable rates, and can be based on individuals or teams. You can also offer commissions to employees or contractors. Commission-based compensation is a store management approach…
Ultimate Guide
How To Separate Business & Personal Finances in 10 Steps
When starting your small business, learning how to separate business and personal finances should be one of your first goals. Separating them will help you build business credit, lend credibility to your business, simplify tax season, and assess your business performance more easily. Keeping your business and personal finances commingled can cause significant long-term problems,…
Global Recruiting: Ultimate Guide
Global recruiting is becoming a vital strategy for businesses to expand their talent pool and seize new opportunities. Recruiting international workers can help your company access new markets, increase diversity and inclusion, and gain a competitive advantage. You might pursue this path for growth if you are looking for certain skills or just expanding rapidly….
CPA & Accounting Insurance: Cost, Coverages & Providers
Accounting insurance refers to the common policies that certified public accountants (CPA), bookkeepers, tax preparers, and accounting professionals need. Professional liability is the most important accounting insurance policy as it helps pay for legal fees and defense if a client accuses the business of negligence. Professional liability insurance for CPAs and accounting professionals costs between…
Packaging Supplies: How to Choose Packaging for a Product
As any retailer knows, getting your product safely to the customer is vital for fostering trust and loyalty. At the same time, going overboard on shipping supplies will lead to increased materials and shipping costs, which deter shoppers and cut into your bottom line. The challenge of packaging is to find the most secure, cost-effective…
Interior Designer Insurance: Cost, Coverage & Providers
Interior design insurance is a combination of policies that protect your business from financial loss from a claim of negligence. The primary policy for an interior designer is professional liability, followed by general liability and some form of first-property coverage, like inland marine and commercial property. Professional liability insurance for an interior designer can range…
What Is an Accounts Receivable (A/R) Aging Report?
An accounts receivable (A/R) aging report shows all unpaid customer invoices grouped by the number of days outstanding. Its primary purpose is to keep track of unpaid customer invoices and how long they remain unpaid. A summarized A/R aging report will have one total for each customer broken up by the age of the invoice,…
What Social Media Advertising Is, How It Works & What It Costs
Social media advertising is any type of paid advertising on social media platforms like Facebook, Twitter, Instagram, LinkedIn, and TikTok, among others. It’s a widely used and effective way for small businesses to easily connect with targeted audiences. Keep reading to learn everything about social media ads, what they are, how they work, average costs,…