Who Is Responsible For a Lost Package: Buyer or Seller?

Who Is Responsible For a Lost Package: Buyer or Seller?

In the e-commerce world, lost mail can become a big problem for merchants and consumers. Any business worth their salt will follow their shipping processes to the T. A good business will triple check shipping addresses and will make sure that their products are packed safely before being shipped out to clients and customers. Still, lost mail seems to be a prevailing issue, whether it is because of a tiny incorrect detail or the negligence of the mail carrier. Just about every online business will face this issue in some way, which eventually begs the question– is lost mail my […]

What Is The Purpose Of Auditing

What Is The Purpose Of Auditing

What is Auditing? Everything Business Owners Need to Know The word “audit” is typically associated with the Internal Revenue Service (IRS). The IRS generally opens an audit on a taxpayer when their taxes don’t quite add up. This can certainly be stressful, which is why “audit” seems to be a dirty word. However, audits have purposes outside of tax season and are used by businesses regularly to keep their operations in order. Let’s look into how auditing relates to business operations. What is Auditing? Auditing is a very broad concept, which we’ll dive into in our next section. However, the […]

Choosing an Electricity or Natural Gas Supplier in New York State 

Choosing an Electricity or Natural Gas Supplier in New York State  Choosing an Electricity or Natural Gas Supplier in New York State Featured Image

New York State opened the State’s electric and natural gas industries to competition in the 1990s. Changes in the markets provided an opportunity for consumers to choose who provides their energy supply – either their utility or a third-party supplier known as an Energy Services Company (ESCO). How You Benefit from the Availability of ESCOs in New York? ESCOs are competing for your business. As a result, there may be a wide variety of products and price options available to customers shopping for energy supply. Pricing Supply service may be offered as a variable or fixed rate. With a variable […]

Collaboration Between Parcel Carriers Can Spell Savings for Your Business

Collaboration Between Parcel Carriers Can Spell Savings for Your Business Collaboration Between Parcel Carriers Can Spell Savings for Your Business Featured Image

E-commerce and changing consumer demand have led to an explosion in parcel shipping, which in turn is driving dynamic change in the parcel market. The increased demand for parcels has benefitted the providers of parcel services through increased volume and has changed the relationship between players in the market. To remain competitive, firms are collaborating with their once rivals as never before — providing processing, transportation, or delivery for one another. For example, both UPS and FedEx use the Postal Service to provide last-mile delivery for a significant portion of their ground parcels. How You Benefit With Collaboration Between Parcel […]

10 Cost Reduction Strategies to Try in 2019

10 Cost Reduction Strategies to Try in 2019 10 Cost Reduction Strategies to Try in 2019

As a business owner, reducing costs while maximizing revenue in your business is always front of mind. Your ability to do this, and the strategies available to you will vary by industry. There are, however, several effective strategies that business owners can investigate to achieve cost reduction. From capitalized cost reduction to staffing adjustments, and tweaks to your supply chain, we’ve put together a round-up of the top 10 cost reduction strategies for your business. 1. Cut Office Space Costs As a business owner, you no doubt already know how much rent and associated office space costs can eat into […]

What Are Tariffs and How Do They Affect Your Business?

What Are Tariffs and How Do They Affect Your Business?

A tariff is a charge levied on imported goods. Customs authorities impose tariffs on goods arriving at a nation’s borders. Countries can sign free trade agreements to reduce or eliminate them. Tariffs can also apply to exported goods, but this is rare. This article will focus on tariffs on imports, which is how the word “tariff” is generally applied. Tariffs are currently a popular topic in the news. When US President Trump speaks of a “trade war” with China, tariffs are the weapon of choice. The current US administration is also turning away from several existing and proposed trade agreements. […]

Biweekly vs. Semi-Monthly Payroll: What’s the Difference?

Biweekly vs. Semi-Monthly Payroll: What’s the Difference?

When it comes to the way that your company handles payroll, you might find that there are various options available for you. State law will typically specify the time frame within which employees must legally get paid. That doesn’t mean, however, that you can’t pay your employees more frequently; the time frame that State law specifies serves as a minimum. Generally, employers will usually pay their employees on a biweekly or semi-monthly basis. So, what is the difference between a biweekly payment and a semi-monthly payment?  Differences in Payroll Frequency Did you know: Semi-monthly employees will receive 24 paychecks in […]

What is a General Ledger Account?

What is a General Ledger Account?

A general ledger account is the backbone of the recordkeeping of business, forming the basis of a firm’s financial statements. It is used to sort, summarize, and store information about all of the transactions conducted during business operations. The flow and structure of GL accounts are somewhat standardized, but the combination of numbers and letters that make them up are unique to each business. General Ledger Defined To understand what a general ledger account is, you must first have a solid understanding of what a general ledger is, and the primary purpose it serves. A general ledger is the set […]

Cost Avoidance vs Cost Savings: What is the Difference?

Cost Avoidance vs Cost Savings: What is the Difference?

What is Cost Avoidance? Cost avoidance has to do with any action that avoids having to incur costs in the future. In a business setting, cost avoidance is a measure that lowers potential increased expenses as a way of decreasing a company’s future costs. In cost avoidance measures, action is taken in order to reduce future costs. An example of future costs can include the replacing of certain mechanical parts that are used within a business before they fail and cause damage to other parts. In simpler words, cost avoidance really constitutes a specific set of preemptive actions that avert […]