Ask three bookkeeping firms for a quote, and you’ll get three very different prices. That doesn’t mean one firm is overcharging. The reason is that
You’ve probably seen “2/10, net 30” printed on an invoice. It means the buyer gets a 2% discount for paying within 10 days, and the
Imagine your business pays two shipping bills in the same week. One is for bringing inventory in from a supplier. The other is for shipping
Many business owners first come across the term “technical accounting” during a conversation with an investor, lender, or auditor. Then they search online and end
Net income is the profit your business earns during a specific period. Retained earnings are what your business has kept from all its earnings across
As your business grows, there often comes a point where basic bookkeeping isn’t enough. You need experienced financial guidance, but hiring a full-time accountant or
Yes, net income can absolutely be negative. If your business spends more than it earns during a certain period, you’ll end up with a negative
Most nonprofit teams we talk to ask the same question about bequests: “A donor told us we’re in their will. Do we record it now?”
“Accounting is the language of business.” The line is most often credited to Warren Buffett, and it explains something every business owner learns sooner or
Choosing the right accounting method matters more than many business owners realize. The wrong method can give you a misleading view of your profit, affect
