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All businesses have assets. Assets can be broken down into two categories: tangible and intangible. Understand the difference between tangible vs. intangible assets to keep your accounting books and financial statements accurate.
Read More Tangible vs. Intangible Assets
When it comes to managing your business’s finances, you can never be too organized. Creating financial statements paints a picture of your company’s financial health. Financial statements help with decision making and your ability to get outside financing. One statement you could create is the retained earnings statement.
Read More What Is a Retained Earnings Statement?
When you are tracking your business’s financial health, you will track many indicators. And if you are seeking money from investors and creditors, they will want to see these numbers, too. Operating income is one of the numbers you should calculate.
Read More What Is Operating Income?
Incoming revenue is vital to business growth, but it doesn’t paint the most accurate financial picture of your business. You must know whether your company is profiting after deducting business expenses. You need to determine your business’s net income.
Read More Do You Know How to Find Net Income?
Would you like your business to earn more? Of course you do! When you learn how to increase net profit, your business will have more money after expenses and become more stable.
Read More How to Increase Net Profit
If you are rushing to complete your income tax return, consider filing for a business tax extension. Filing taxes for small business can be difficult, and an extension allows you more time to file your business’s tax return. Learning how to file an extension for business taxes is simple. And, you can avoid mistakes that […]
Read More How to File a Business Tax Extension
Business expenses are categorized as either fixed or variable costs. You should identify your company’s fixed and variable expenses for accurate books. Learn the difference between fixed vs. variable costs to help with budgeting, pricing, and decision making.
Read More Fixed vs. Variable Costs
Transactions between two parties can be tricky business. As a small business owner, you need to make sure that things like selling tangible and intangible assets goes smoothly. You might consider using an escrow agent to help. So, what is escrow?
Read More What Is Escrow, and Why Should a Small Business Owner Know About It?
You know that spending less on business expenses like supplies and inventory can help you maximize your business’s profits. You can’t just eliminate those expenses; otherwise, you wouldn’t have anything to sell. But, you can possibly reduce how much you spend through wholesale buying. Wholesalers supply businesses with products in large quantities. Businesses that buy […]
Read More A Guide to Start Buying Wholesale for Small Business
Sixty-eight percent of businesses have separate bank accounts for personal and business finances. Separating accounts helps companies organize accounting records, avoid overspending, and accurately file taxes. You may decide to open a general business checking or savings account, payroll account, or business tax account. Regardless of the type, you need to know how to open […]
Read More How to Open a Business Bank Account in 4 Steps