Financial Control - Brightpearl Retail-tailored Digital Operations Platform Tue, 16 Sep 2025 19:25:04 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.2 https://www.brightpearl.com/wp-content/uploads/2024/02/cropped-brightpearl-favicon-32x32.png Financial Control - Brightpearl 32 32 How to Manage Working Capital for Business Growth and Stability https://www.brightpearl.com/blog/working-capital-for-business-growth Wed, 24 Sep 2025 19:16:16 +0000 https://www.brightpearl.com/?p=10101 Working capital is the difference between a company’s current assets and current liabilities, and it’s a key indicator of financial health. Managing it effectively ensures there’s enough liquidity to cover daily operations while still leaving room for future investment. Strong working capital management supports growth, builds stability, and helps businesses stay resilient when cash flow […]

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]]> How to Make Your Procurement Process More Efficient https://www.brightpearl.com/blog/procurement-process-improvement Tue, 23 Sep 2025 19:08:39 +0000 https://www.brightpearl.com/?p=10099 Procurement lies at the heart of every successful retail operation. It powers inventory availability, supplier relationships, and profitability. Yet many businesses know the frustration of delays, rising costs, or suppliers who fail to deliver. Behind those challenges is often an inefficient procurement process that slows growth and eats into profit. The good news is that […]

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]]> How To Prepare Your Business For A Financial Statement Audit https://www.brightpearl.com/blog/prepare-business-financial-statement-audit Mon, 22 Sep 2025 18:58:40 +0000 https://www.brightpearl.com/?p=10097 Financial statement audits can feel daunting for retail, wholesale, and supply chain businesses. The idea of an external auditor combing through months, or even years, of your company’s financial statements is enough to create stress for any business owner or financial manager. But in reality, financial audits are not just regulatory hurdles. The audit process […]

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]]> What is a 3-Way Match in Accounting? Understanding the Basics https://www.brightpearl.com/blog/3-way-match-accounting Fri, 19 Sep 2025 18:48:38 +0000 https://www.brightpearl.com/?p=10095 Introduction to 3-Way Match in Accounting Incorrect payments are one of the most common and costly mistakes in accounts payable. They can lead to overpayments, duplicate payments, delayed vendor relationships, and compliance issues that damage a company’s financial standing. In fast-moving retail, wholesale, and supply chain operations, even a minor discrepancy between an order and […]

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]]> Guaranteed Payments vs Distributions: What You Need to Know https://www.brightpearl.com/blog/guaranteed-payments-vs-distributions Wed, 02 Jul 2025 15:01:44 +0000 https://www.brightpearl.com/?p=10016 If your business is structured as a partnership or Limited Liability Company (LLC), you’ve likely encountered the terms “partnership guaranteed payments” and “distributions.” Understanding how partners or owners get compensated can be a source of confusion, but it’s a crucial aspect of managing your business effectively. These two methods, guaranteed payments and distributions, are common […]

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]]> Understanding Fixed Asset Accounting: A Simple Guide https://www.brightpearl.com/blog/fixed-asset-accounting Tue, 01 Jul 2025 14:44:51 +0000 https://www.brightpearl.com/?p=10013 Correctly understanding accounting for fixed assets can significantly affect a company’s financial health—especially in the retail industry, where accurate fixed asset reporting supports financial transparency, compliance, and asset tracking for long-term planning.  In this article, we’ll cover how to properly define and track fixed assets for accounting purposes and explore what you can do to […]

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]]> How to Calculate the Right Markup to Maximize Profit Margins https://www.brightpearl.com/blog/markup-formula Fri, 16 May 2025 08:00:26 +0000 https://www.brightpearl.com/?p=9894 Pricing products effectively is key to success in retail, wholesale, and e-commerce. Beyond covering costs, it shapes business growth, competitiveness, and long-term sustainability. A crucial part of this strategy is determining and applying the right markup. Markup—the difference between a product’s cost and its selling price—directly impacts profit margins and overall profitability. Setting it too […]

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]]> ERP vs. CRM: What’s the Difference and Why Does It Matter? https://www.brightpearl.com/blog/erp-vs-crm Fri, 09 May 2025 08:00:04 +0000 https://www.brightpearl.com/?p=9879 When it comes to running a successful business, two systems you’ll hear a lot about are ERP and CRM. But while both are crucial, it’s important to understand that they serve very different purposes. Think of ERP as the backbone of your business, integrating everything from inventory and orders to financials. CRM, on the other […]

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]]> The Ultimate Guide to Order to Cash (O2C) Process https://www.brightpearl.com/blog/the-ultimate-guide-to-order-to-cash-o2c-process https://www.brightpearl.com/blog/the-ultimate-guide-to-order-to-cash-o2c-process#respond Mon, 22 Nov 2021 11:57:23 +0000 https://www.brightpearl.com/?p=4246 The Order to Cash (O2C) process plays a crucial role in an organization’s relationship with its customers. While companies often get caught up in the processes before order placement, like marketing, optimizing the O2C process can sometimes get overlooked. You must streamline your order to cash process. Doing so allows you to provide a faster […]

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]]> https://www.brightpearl.com/blog/the-ultimate-guide-to-order-to-cash-o2c-process/feed 0 The Small Business Guide to the Purchase Order Process https://www.brightpearl.com/blog/purchase-ordering-process https://www.brightpearl.com/blog/purchase-ordering-process#respond Fri, 18 Jun 2021 11:31:39 +0000 https://www.brightpearl.com/?p=3927 According to the U.S. Small Business Administration Office of Advocacy, there were 30.7 million small businesses in the United States as of 2016. This makes up 99.9% of all businesses. While the term “purchase order” may be associated with procurement from larger companies, it is also vital for the day-to-day operations of our economy’s largest […]

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]]> https://www.brightpearl.com/blog/purchase-ordering-process/feed 0 The Benefits of Real-Time Accounting https://www.brightpearl.com/blog/benefits-real-time-accounting https://www.brightpearl.com/blog/benefits-real-time-accounting#respond Mon, 10 Aug 2020 13:29:35 +0000 https://brightpearl20.wpengine.com/the-benefits-of-real-time-accounting/ With the ever increasing pressure on businesses to be more lean and more competitive within the market, the ability to know how you are doing is more important than ever. Thus, real-time accounting comes into play to an even greater extent. What was once a finger in the air approximation of your finances, profit and […]

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]]> https://www.brightpearl.com/blog/benefits-real-time-accounting/feed 0 Understanding Landed Costs & The Profit Margin Formula https://www.brightpearl.com/blog/understanding-landed-costs-profit-margin-formula https://www.brightpearl.com/blog/understanding-landed-costs-profit-margin-formula#respond Mon, 20 Apr 2020 09:00:00 +0000 https://brightpearl20.wpengine.com/understanding-landed-costs-the-profit-margin-formula/   Working out your profit margins should be simple. If you the cost of a product is $x, and you sell it for $x + $y, then $y is your profit – right? Unfortunately, it’s not quite so easy. In order to accurately gauge the profitability of your products, you need to be able to […]

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