In today's digital age, establishing a strong online presence is crucial for the success of your small business in Pakistan. With an increasing number of consumers turning to the internet for their purchasing decisions, it has become imperative for small businesses to effectively engage with their target audience online.
As a small business owner in Pakistan, managing your accounts receivable and accounts payable is a crucial part of your financial management process. Accounts receivable refer to the money that your customers owe you for the products or services you've provided, while accounts payable are the expenses that you owe to your suppliers or vendors.
Do you know if you’re making profits or losing them? As a small business owner, it might be a confusing question for you to answer. However, if you learn to review your profit and loss statement regularly, you can easily track the financial growth of your business. A profit and loss statement also known as P&L statement allows you to check if your business is generating profits or going into a loss.