As promised, let’s continue the modified cash basis conversation that we started over here in the Accounts Receivable 101 convo…
If you want a better picture than a cash-basis** financial statement can give, in additional to tracking what your customers owe you (accounts receivable), you should track what you owe your vendors and suppliers (accounts payable).
Want to get a better handle on your business’ cashflow? Here are the basics of invoicing and accounts receivable for the non-accountant (and newbie bookkeeper).
I see it all the time. New business owners want to get paid so desperately that they don’t set up a proper invoicing and income tracking system… namely “accounts receivable”. (more…)
Budgeting. Goal-setting.
Oh so very sexy, right?!?!
Not really. But, oh so helpful as a money roadmap for your life and your business.
How can you tell if your business is performing the way you want to it? Want to know how your business is really doing? Set some goals and then go after them.
Go a step further and create a budget from those goals then periodically check in on your business using this “magic” report…the Budget Versus Actual Income Statement.
You decided to start a business.
To go from hobby to become a “real” business…
but wait, you need a business plan. Right?
Maybe. Maybe not.
