To keep business operations running smoothly, you need incoming money. When you make a sale or earn money from another activity, you need to record it. Learn how to record the types of revenue in different accounts. That way, you can keep your accounting books updated, organized, and legal.
Read More What Are the Types of Revenue Small Business Owners Need to Know?Income Articles
Income - Tips, Training, and News
Most popular blog categories
What to Do When Your Business Runs Out of Money: Effective Strategies
Cash flow problems happen—often. It’s why 82% of small businesses fail. But if you have issues with your cash flow, you’re not doomed to close up shop. Instead, it’s like coming to a fork in the road. Turn right to power through, or turn left to call it quits. To get out of the red, […]
Read More What to Do When Your Business Runs Out of Money: Effective StrategiesWhat Is Ordinary Income?
As a small business owner, you track the money your company earns in your accounting books. Can you identify the types of income you record? For example, ordinary income is a common type of income that your business earns.
Read More What Is Ordinary Income?Create a Customer Bill Payment Policy for Your Small Business
Do you struggle to collect customer bill payments? If you do not charge your customers the total bill at the point of sale, you need a payment policy to guide your customers through the payment process.
Read More Create a Customer Bill Payment Policy for Your Small Business5 Tips for Accepting Cash Payments
A cash business accepts most or all cash transactions. A cash payment system usually doesn’t allow customers to use checks and credit cards to make a purchase. If you’re thinking about accepting cash payments, read on for more information.
Read More 5 Tips for Accepting Cash PaymentsNet Revenue and Discounts
Do you offer discounts in your business? If so, understand how discounts help—or hurt—your small business’s net revenue.
Read More Net Revenue and DiscountsWhat Is Negative Cash Flow?
As a small business owner, you need to balance income with your expenses. When you track patterns in your spending and earnings, you are looking at your business’s cash flow. Sometimes, your cash flow is negative. What is negative cash flow?
Read More What Is Negative Cash Flow?What Is Gross Profit?
Do you know how profitable your small business’s operations are? You don’t have to be a financial expert to find out. You can calculate your gross profit to compare the funds you put into your business.
Read More What Is Gross Profit?What Is Net Profit?
You’re a business owner, not an accountant. But, you probably handle some of your accounting tasks. You need to know some basic accounting terms to manage your books. An important term to understand is net profit. What is net profit? Net profit is an important figure on your income statement.
Read More What Is Net Profit?What Is Burn Rate? Find Out How Fast You’re Spending Cash
It’s critical for a new company to know how much money they spend each month. And, startup owners need to know how long their capital will last before revenue needs to pick up. How can you manage startup capital spending? You can find and track your business’s burn rate.
Read More What Is Burn Rate? Find Out How Fast You’re Spending Cash