The accounts payable (A/P) turnover ratio measures how fast a business pays its suppliers. The ratio is calculated by dividing total supplier purchases by the average accounts payable balance for the period. It can be used to identify payment issues, and it gives creditors a sense of your payment history with vendors. If you use…
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What Is ADA Compliance & Who It Applies To
The Americans with Disabilities Act (ADA) prevents workplace discrimination and helps enable proper access to business facilities for disabled patrons. Workplace ADA compliance falls primarily under Title I of the ADA, workplace, and employment―ensuring your hiring, employment, and disciplinary practices are fair. ADA enforcement begins once your business reaches 15 employees or more. How ADA…
Is Intuit QuickBooks Capital Right for Your Small Business?
Intuit QuickBooks Capital offers short-term loans in amounts up to $100,000. These loans carry expected APRs ranging from 12% to 32% and repayment terms up to 12 months. If you use QuickBooks Online, have a credit score of at least 620, and annual revenues of $50,000 or greater, you may be eligible. Small business owners…
Federal Labor Laws & State Employment Laws
Federal labor laws, like the Fair Labor Standards Act (FLSA), and related state laws affect all businesses with employees. They govern workforce practices like overtime, minimum wage, on-call pay, employee breaks, and sick leave as well as hiring minors and preventing discrimination. Employer compliance with labor laws can help you avoid thousands of dollars in…
What Is Sales Enablement? Definition, Tools, & How It’s Done
Sales enablement is the act of providing the right resources to optimize sales, such as offering sales tools to your team. While solopreneurs can typically enable their own sales with tools and resources on the fly, a more formal sales enablement strategy is often required by larger organizations with complex products and long sales cycles….
What Is Depreciation & How Does Depreciation Work?
Depreciation is an income tax deduction that allows you to recover the cost of assets like cars, furniture, and equipment that you purchase and use in your business. It can also be reported for accounting purposes so that your financial statements accurately reflect your investment in fixed assets and allocate those costs over time. How…
How Much Does General Liability Insurance Cost
General liability insurance costs range from $350 to $2,500 per year depending on your industry and company size. Policies pay for third-party injuries or property damage that could become financially devastating to an uninsured company. Defending liability claims average $75,000, making general liability worth the premium. Few owners should try to run their business without…
Conference Calls: Definition, Cost, Features & Providers
Conference call services facilitate meetings between two or more people over the internet using computers or mobile apps when face-to-face meetings aren’t possible. Some systems only support audio conferencing while others like RingCentral and Zoom also support video meetings. Pricing ranges from free to several hundred dollars per month, depending on the type of service….
What Is a Web Banner? Definition, Cost & Examples
Web banners are digital advertisements displayed in the header, footer, or sidebars of websites. They’re generally considered to be an affordable type of online advertising with an average cost-per-click (CPC) of 72 cents. Businesses looking to increase brand awareness or customer engagement with ads outside of their existing network should consider using web banners. For…
Salary History Ban: Everything Employers Need to Know
To help eliminate pay discrimination, over a dozen states and localities have enforced salary history bans, or laws prohibiting employers from asking job candidates information about their salary history. To comply, some companies are updating job applications, company practices, and so forth. Each violation can result in a penalty of $100 to over $5,000. If…
Cold Canvassing: What It Is & How It’s Used In Sales
Cold canvassing is a tactic used in sales to look for new business by approaching potential customers in the field with a sales offer. It’s best for companies like residential contractors, whose potential customers may be easier to approach in person than over the phone or by email. Costs vary depending on approach. Using a…
VoIP Latency: Definition, Issues & Remedies
Voice-over-internet-protocol (VoIP) latency is a delay or lag in the time with voice communications between two VoIP phones. This can cause VoIP calls to be extremely choppy and frustrating to employees and customers alike. Latency is usually caused by slow or unreliable network speeds and can be minimized by fixing common network problems. What Is…