Another way that responsibility centers can be used to identify opportunities for improvement is by encouraging collaboration and communication between different departments or functions. While responsibility centers can help improve accountability, they can also make it challenging to measure overall performance. With each department or division responsible for its objectives, assessing how well the company […]

Although recording transactions manually or in a digital spreadsheet is acceptable, it is probably easier to use a small business accounting software like QuickBooks. Accounting involves recording, classifying, reporting, and summarizing financial transactions. The goal of small business accounting is to provide financial information about the business to its stakeholders and regulators and for tax purposes. From […]