As a small business owner, you might owe money to vendors, employees, and the government. You need to keep track of your business’s debts in your accounting books. When it comes to recording the money you owe, mark your debts as liabilities. What are liabilities?
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Author:
Mike Kappel
Mike Kappel, serial entrepreneur and CEO of Patriot Software, offers payroll advice from more than 30 years of experience to small business owners.
Should You Pass Along Swipe Fees to Customers?
With fewer people carrying cash, it’s common for customers to break out a credit card for everyday purchases. While credit cards offer customers more spending options, swipe fees attached to charges could mess with your small business finances.
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ROI Meaning: What Is Return on Investment (ROI)?
When you invest in an asset for your small business, you want it to eventually turn a profit. But, how do you measure the profitability of your investments? You can use return on investment (ROI) calculations to see how much income your assets generate.
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What Is Liquidation? | Small Business Liquidation
As an entrepreneur, you need to have a plan in case you have to close your business. Perhaps your business can’t pay its debts, or maybe you want to retire. Regardless of what happens, you should be aware of one of your options for closing your business: small business liquidation. What is liquidation?
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What Is Accounts Receivable?
Do you extend credit to customers at your small business? If so, you need to record these transactions in your accounting books. Depending on the method of accounting you use, you might need to track accounts receivable. What is accounts receivable?
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What Is Business Net Worth?
Sometimes, it’s hard to tell whether your business is operating efficiently, especially when money is constantly coming in and going out. You need to know if your business is making a profit or losing money. One way to gain insight into your financial strength is by reviewing your net worth. What is business net worth?
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What Is a Sole Proprietor?
A sole proprietor is an individual who owns and operates their own business. Sole proprietors fill out fewer tax forms and pay less to start their businesses.
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How to Form an S Corp
When you set up your business, you choose from several types of business structures. The structure you operate under affects your tax liabilities, so selecting the right one for your business is crucial. Forming an S Corp is one business entity option. Knowing how to form an S corporation helps you decide how you will […]
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How to Find Net Sales: Formula and Examples
How often do you offer discounts to customers? Or, how frequently do customers return products to your business? You need to know about net sales if you offer discounts or accept returns. Read on to learn what net sales are, how to find them, and more.
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What Is a Vendor? Overview for Small Business Owners
As a small business owner, you need goods to operate. Your inventory is an essential organ in the anatomy of your business. The tools you use and the merchandise you sell help you accomplish daily goals, and ultimately grow your company.
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