Budget Versus Actual …How Are You Really Doing?

Posted by on May 23, 2014 in Accounting & Bookkeeping, How-To, Small Business, Tips & Tools | 0 comments

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.

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Accounts Payable 101

Posted by on Apr 25, 2014 in Accounting & Bookkeeping, How-To, Small Business, Tips & Tools | 0 comments

As promised, let’s continue the modified cash basis conversation. We started talking about it here, in the Accounts Receivable 101 convo…

If you want 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).

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