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? […]
Tips and Tricks
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 […]
Keep It Separate
When it comes to in-home businesses and startups, many have co-mingled monies at the start. This article is going to explore why it’s important to keep it separate! Let me introduce you to Kathy. When I met Kathy, she was just starting her cleaning company. She asked me to sit down with her and review […]