Owners of trucking companies may not have a background in finance, but it’s important to have a basic understanding of accounting. Even if you have a professional bookkeeper or accountant handling your books, you should be familiar with basic accounting terms and principles. This knowledge will help you understand the health of your business and warn you of problems that may be on the horizon.
Accounting Terminology You Should Know
In order to better understand your finances, it helps if you’re familiar with the terminology. The following are some accounting terms that are relevant to your business. Read more
Any B2B business that is looking for ways to boost cash flow without taking out a traditional loan may be interested in invoice factoring. When invoices are factored, you receive immediate payment from the factoring company instead of having to wait for business clients to pay. There are numerous ways that invoice factoring can contribute to better cash flow and business growth.
Invoice factoring is a type of alternative financing that helps businesses improve their cash flow situation. It can be used in place of or sometimes in addition to other types of financing such as equipment financing, unsecured loans, and venture capital.
If you are seeking funding for your small business, you should be familiar with UCC filings. The UCC or