Last month we explored Accounts Receivables and highlighting incoming billable funds from clients. This month we’re looking at Accounts Payable. SO! What does Accounts Payable Mean and How Does it Help Me? In short, accounts payable is the account that tells you who and how much YOU owe to your vendors. In a service-based business, […]
Tips and Tricks
The Technical Terms of Accounting: Cost of Goods or COGS
Ever find yourself trying to quantify your goods and services? What does it take to put together that finished product? If you can’t break down the journey, you’ll have a hard time justifying the means. Enter… COGS or Cost of Goods. So! What exactly does the term Cost of Goods (COGS) and Gross Profit mean? […]
The Technical Terms of Accounting – Sales & Invoicing
What does Sales & Invoicing Mean and How Does it Help Me? You’re not a business unless you have sales income. Generating sales and an income is one of the primary reasons WHY you’re in business. Sales & Invoicing is my favorite account on any profit & loss reporting. This line of your report is […]
The Technical Terms of Accounting – Tackling Accounts Receivable
What does Accounts Receivable Mean and How Does it Help Me? Accounts Receivable (AR) is one of my favorite accounts because it highlights income for your business expected to be retrieved from current clients. AR is, in its simplest form, a list of who owes you money and how much they owe you, and this […]
Starting Your Business Off Right
Starting a new business is exciting, but it also be daunting to most of us. What do you need to know to ensure you’re starting your business off right? If you are thinking about starting a business or have one up and going here are a couple of things to do to make sure you’re […]
