Income Articles

As a business owner, you likely pay wages to employees. But when it comes to paying yourself, what do you do? Depending on your type of business structure, you might be able to pay yourself an owner’s draw.

Revenue is a vital part of your business. Your business needs revenue to survive. So, you must understand revenue.

Keeping an eye on your business’s finances is oh-so-important if you want your company to thrive and grow. This includes monitoring your financial statements and calculating financial figures, such as total revenue. Get the lowdown on how to calculate total revenue and ways to use it to benefit your business.

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.

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.

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.