Cash Disbursements

Cash disbursements is the process of paying the bills for the small business. The most common format is to issue checks, but other methods include paying via direct debits to other accounts, paying by cash to vendors (get a signed receipt), issuing refunds to customers and electronic transfers (taxes).

Bookkeeping – Other Taxes (Lesson 59)

Other Taxes

There are several more taxes that small businesses must adhere to each year.   This lesson explains these other taxes including: Real Estate Taxes, Business Property Tax, State Franchise Tax, State Licenses or Fees, Unique Production or Consumption Taxes, and Assessments.

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Bookkeeping – Controlling Cash (Lesson 48)

Controlling Cash

In small business, cash is almost always the number one issue. There is simply never enough. This is primarily attributable to growth.  Growth requires both physical assets to produce more and expansion of accounts receivable.  Technically the expansion of accounts receivable is the economic equivalent of lending cash.

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Owner’s Draw in Business

Owner's Draw

When an owner of a small business operation transfers money from the business bank account to their personal bank account the transaction is commonly referred to as a ‘Draw’. There are other terms but this is the traditional word used.  The technical definition is: ‘A transfer of earnings from the business on behalf of the owner is referred to as a draw’.

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