For many, financial statements can be difficult to unpack, but they are vital to understanding the success and growth of your business regardless of size. There are a wide variety of financial documents that you will need to be aware of. While it is nearly impossible to give you a full overview of each type in a single blog post, today we’ll take you through some of the most common documents and what you will need to know. Once you have a basic understanding, you’ll be able to navigate your financial situation much more effectively.
Direct deposit is an optional way to receive your payment directly in your bank account rather than having a paper check. Any type of payment can be direct deposited, from your paycheck to a Social Security payment to your tax refund. The transaction type is known as an ACH or automated clearing house transaction, and most employers offer it as a payment option, even in small businesses. Aside from being free for employees (or payees), direct deposit has additional benefits that you should consider. Continue reading “The Many Benefits of Direct Deposit”