Your cash flow statement can give you an idea of your business’s current financial health. But, wouldn’t it be nice to see your company’s future cash flow? You don’t need a crystal ball to view your cash flow’s future. Instead, create a cash flow projection. Read on to learn about cash flow projection and how […]
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Accounting Reports - Tips, Training, and News
What Is a Balance Sheet?
When it comes to running a business, you can’t ignore your finances. To help you keep your finances in order and organized, you can look at financial statements, like your balance sheet. But, what is a balance sheet exactly? Let us give you the rundown on the balance sheet definition, the components of the financial […]
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How to Improve Financial Reporting Processes: 6 Tips
Let’s face it: Your finances play a major role in your business’s success. You need to have accurate reporting to know where your business stands financially. Otherwise, you could end up overspending and running your business into the ground. To keep your small business finances in shipshape, learn how to improve financial reporting processes.
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What Is an Income Statement?
Quick: Off the top of your head, how much money is your business bringing in? How much are you spending? At some point, investors, lenders, and (cough) you will need to know. But don’t panic when someone asks about your company’s revenue and expenses. Just whip out your income statement. What is an income statement, […]
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How to Find Your Business’s Contribution Margin to Determine Profitability
Want to find a certain product or service’s profitability? Of course you do! To determine how profitable your offerings are and what kind of adjustments your business needs to make to increase earnings, learn how to calculate contribution margin.
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5 Leverage Ratios You Need to Know
When it comes to your business, at some point or another you may need to borrow money from investors, lenders, etc. to help grow. One thing they typically look at before shelling out any funds is your financial metrics, like leverage ratios. This article breaks down: Leverage ratio definition 5 leverage ratios to keep in […]
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How to Calculate Current Assets in Accounting
When it comes to your business, keeping up with your finances is a must. And to know where you stand financially, understand how to calculate certain figures, like current assets. Get the scoop on how to calculate current assets for your business and how to use them to evaluate your company’s finances.
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Miscellaneous “Income” Is Now Miscellaneous “Information.” So, What Is It?
In business, it seems like you dole out money for anything and everything. Employee wages and inventory purchases are just some of the payments you might make. Sometimes, you may make payments that fall under the IRS’s miscellaneous category. And if you do, you must report them as miscellaneous information (formerly miscellaneous income). So, what […]
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Your Guide to GAAP (Generally Accepted Accounting Principles)
When it comes to accounting, you must follow certain rules for recordkeeping or tax reporting. Otherwise, you may wind up making mistakes and costing your company money—and nobody wants that. Many businesses must follow a set of accounting guidelines called GAAP. But, what is GAAP exactly? And, how do you know if you have to […]
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IRS Cash App Reporting Rules: What to Know
Over 75% of consumers use payment service apps. And if you’re part of the growing percentage of small businesses (23% in 2019, to be exact) that accept peer-to-peer (P2P) payments, you should know about the new IRS cash app reporting rules.
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