Cash vs Accrual Accounting Methods: What’s Best for Your Business?

cash vs accrual accounting methods for small business owners

When choosing between accounting practices, companies have two primary methods to choose from: Cash-basis vs Accrual-basis. The main difference between cash-basis accounting and accrual-basis accounting is when you record revenue and expenses. Cash-basis accounting recognizes revenue and expenses when cash is received or paid. Accrual-basis accounting recognizes revenue and expenses when it is earned. What is bookkeeping? … Read more

Digitalization for Your Distribution Business

Digitalization for Business

Small-to-medium-sized businesses or SMBs around the world agree that the advancement of technology and the acceleration of innovation are difficult to keep up with. Many industries are being introduced to new products daily that solve existing needs in a new way. Competition isn’t only based on quality now. Marketing, sales, distribution, speed, and price all … Read more

DSCSA Requirements: Will Your Pharma Company Be Ready for 2023?

2023 DSCSA Requirements

The “Drug Supply Chain Security Act (DSCSA)” was enacted by Congress on November 27, 2013 and outlines steps to achieve interoperable, electronic tracing of products at the package level to identify and trace certain prescription drugs as they are distributed in the United States. It is meant to enhance the FDA’s ability to help protect … Read more

SKU Management Best Practices for an Organized Warehouse

What is a SKU?

Small owner-managed warehouses are able to keep track of products quite easily since there are only a few SKUs to manage. Once you get into thousands of different products or SKUs, manual management becomes difficult especially when you’re keeping track of sales orders and purchase orders to determine profitability. Before getting into SKU Management, it’s … Read more

Start Distributing Internationally with Import Export Software 

distributing internationally

Whether you’re a distributor of niche soaps or have over 25,000 SKUs, people around the world are able to purchase whatever they want, whenever they want. Globalization has no doubt allowed smaller players to compete with the big guys and taking your wholesale business global by distributing internationally is a great way to expand operations … Read more