Kabbage and OnDeck both provide small business owners with short-term financing that can be used for working capital and midsized projects. Both are excellent lending products with slight differences between them. Kabbage gets the slight edge as best overall due to a lower annual percentage rate (APR), monthly payment option, and lower required annual business…
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In-house Payroll vs Outsourcing: Which Is Best for You?
Payroll is a big part of any business and should not be considered lightly. Doing it right keeps employees happy and protects your business from being out of compliance with state and federal laws. Many companies outsource all or part of their payroll duties to a service or provider, while others handle it in-house, using…
Business Owner’s Policy vs General Liability Insurance
General liability and business owner’s policy (BOP) are insurance policies that offer protection by helping with the costs associated with a claim, and both policies can be customized with endorsements. The difference between a business owner’s policy and general liability is general liability covers the costs of third-party liability claims, while the BOP carries the…
Forensic Accounting vs Auditing: A Small Business Guide
The difference between forensic accounting and auditing lies in how the engagement is performed. Forensic accountants look for the existence of fraud in a business and can go as far as spotting other criminal behaviors committed by the owners or employees. Meanwhile, auditors focus more on your business’s compliance with accounting principles, such as United…
Furlough vs Layoff: A Guide for Small Businesses
A business has some options when the need to downsize arises—the most common being furloughs and layoffs. A furlough is a mandatory temporary leave of absence for your employees. A layoff is a permanent termination of their contract with you. Too many small businesses use these terms interchangeably, but it is important to understand the…
Freshsales vs Salesforce: Which Is Better for You?
Freshsales and Salesforce are popular customer relationship management (CRM) software platforms that serve businesses with excellent lead management, analytics, and workflow automation features. Freshsales stands out for free-forever plans, which offer phone, chat, and email communication with contacts. Salesforce, however, is better for tailoring the CRM to an organization’s needs through system customization and integrations….
Pipedrive vs Zoho CRM: Which CRM Is Best for Small Businesses
Pipedrive and Zoho CRM are customer relationship management (CRM) systems that let small businesses manage sales operations with excellent pipeline and lead management features. However, Pipedrive stands out for its easy-to-use sales tools and intuitive interface, while Zoho CRM has multipurpose functionality to manage sales, marketing, inventory, and customer support, all in one place. When…
Cash-basis vs Accrual-basis Accounting Methods & When To Use Each
The option of whether to use the accrual or cash basis of accounting largely depends on what the accounting numbers will be used for as well as the cost and difficulty to produce accrual-basis numbers. Cash-basis accounting is often used for income tax reporting while accrual-basis is usually better for financial statements. The difference between…