Income Articles

Incoming revenue is vital to business growth, but it doesn’t paint the most accurate financial picture of your business. You must know whether your company is profiting after deducting business expenses. You need to determine your business’s net income.

Gross income is an important financial figure you can use to calculate other figures and determine how your business is doing. Learn about gross income, how to calculate it, and how to use it.

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.

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 […]