“Most businesses start out with the cash method of accounting because owners don’t know how well their business will do,” says Yaritza Delorenzo, co-founder of Florida-based BusySuperVA, a company providing virtual assistants to a wide range of clients. Among the many hats Delorenzo wears is bookkeeper to many of her firm’s customers, so she is extremely familiar with both the cash method and its distant cousin, the accrual method of accounting.  Read more...

According to an article in the Wall Street Journal, the number of banks in the United States has been steadily dwindling for several years. That decrease means there are fewer banks to lend money to small business owners and start-ups. In fact, the number of federally insured banking institutions nationwide is at its lowest level since at least the Great Depression. Read more...