Extending credit to your customers is a great way to build relationships, boost sales, and generate new business, but there are also risks with doing this. Each time you extend credit to a customer, you are increasing your accounts receivable account and must wait for your money to come in. While this can work out great with most customers, there may also be times when your customers fail to pay.

If you have raced to the bank on payday on many occasions just to find out that the bank is closed and you need to wait until the following day to deposit your check or obtain the cash you need for bills, you were probably infuriated at the time of each of these instances or were unable to pay one or more of your bills in a timely manner. If your bank offers video banking solutions, learn how this new feature can be helpful to you.

When you start a small business, you want to make sure that you get off on the right foot tax wise. There are simple steps that you can take to ensure that your business is set-up correctly and that you are making the right moves so that when tax time comes, you will be prepared. Get a Tax Identification Number You are not going to want to use your social security number for your business taxes.