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?Read More What Is Business Net Worth?
Collection agencies help businesses secure payments from late-paying customers. If you are struggling with your collections, you might want to hire a collection agency.Read More When to Hire a Collection Agency to Get Your Receivables
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 […]Read More How to Form an S Corp
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?
If you run a farming business, calculating your profits and losses (P&L) for the year can be difficult. The good news is that the Schedule F, Profit or Loss for Farming, can help you understand your P&L. If you operate a farming business, you must file a Schedule F. But what is a schedule F […]Read More Recording Profit and Loss on the Farm With the Schedule F Tax Form
When it comes to business expenses, there are two different types of costs: fixed costs and variable costs. It’s important to know the difference between fixed and variable costs. But, how do you know what expenses are fixed costs, and what are variable costs?Read More What Are Variable Costs?
As a small business owner, you manage many different expenses. As you run your daily operations, you might not think about the types of business expenses you make. But, you should record some expenses differently than others in your accounting books, such as fixed costs.Read More What Are Fixed Costs?
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.Read More How to Find Net Sales: Formula and Examples
Do you know how long it takes you to pay your small business’s invoices? The number of days between receiving an invoice and sending a payment plays a big part in your company’s cash flow. You can track how long it takes you to pay bills by calculating the days payable outstanding.Read More How to Find Days Payable Outstanding