LISTEN TO AUDIO Understanding Account Audits: Key to Financial Transparency Simplifying Account Audits for Financial Clarity Account audits are like magnifying glasses for your finances – they zoom in on the numbers to ensure everything adds up correctly. Imagine trying to complete a complex puzzle; account audits help you verify each financial piece is in…
What is amortization? Amortization is an accounting technique used to spread out the cost or value of an asset, such as a loan or an intangible asset, over time. It is a process of paying off a debt through regular installments of principal and interest, which are predetermined. The payments usually remain the same throughout…
What is a business debit card? A debit card for business is a form of payment that allows users to make purchases at point-of-sale using their business checking account or savings account. A debit card is linked directly to the user’s business checking account or savings account, which is then converted into cash. Business debit…
Business Contingency Plan No one likes to think about disasters, but they can and do happen. That’s why having a contingency plan for your business is important. The definition of contingency planning is a course of action you will take in the event of a disaster. It should cover everything from natural disasters to power…
Cross Collateralization Cross collateralization is a relatively new term in the world of secured loans. It is similar to collateralized loans, but with one key difference: the personal assets used as security for the loan are spread across multiple loans. This means that if you default on one loan, the loan specialists have the legal…
