Income Articles

If you accept check payments from customers, you need to know that the checks might not always clear. A customer might not have enough in their bank account to cover the check amount. Learn what to do with checks that bounce.

As a small business owner, you have likely heard of the terms gross or net income. But, are you familiar with adjusted gross income? Learn what is adjusted gross income, how to calculate it, and uses for adjusted gross income below.

When you offer credit to customers, you may need to write off unpaid receivables as bad debts. However, you could end up collecting debts you write off in your accounting books. If this happens, record the money as a bad debt recovery.

Do customers pay you for your goods or services before you actually deliver them? If so, you need to know about deferred revenue. Learn about deferred revenue and how to record it in your accounting books.

Have you ever been in a store and noticed a lack of cash registers or point-of-sale (POS) terminals? Yet customers are making purchases. How do they do it? Two words: mobile payments.

Balancing your cash drawer is an essential part of your business’s daily routine. Just like brushing your teeth, you should also be balancing your cash register drawer daily. If you’re struggling to balance your cash drawer, you’re not alone. Read on to learn how to balance your cash drawer as well as tips and tricks […]

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. But, what is an owner’s draw?

Accepting check payments from customers may increase your chances of making a sale, but it comes at a price. If you receive counterfeit checks or checks from people with insufficient funds, you may have to deal with bank fees, wasted time, and lost money. To avoid these bad check nightmares, follow some standard precautions for […]