If you’re using the accrual method of accounting, you’ll need to make sure that any revenue your business receives is recorded in accordance with the revenue recognition principle. This principle states that revenue should be recognized in the same period in which goods or services are provided.
In simpler terms, any...
Like making money, managing expenses is part of being in business. In most cases, managing your expenses is a simple process since the majority of expenses incurred by small businesses usually consist of overhead expenses such as rent, office supplies, postage, and salaries.
But as your business grows and you...
Along with a run on Clorox wipes and a national obsession with Anthony Fauci, the coronavirus outbreak has triggered an identity crisis for high-yield savings accounts. Interest rates have fallen precipitously, and that has savers exploring other ways to maximize their money.
There are money market accounts, which are “like savings...
So far, 2020 has been unpredictable to say (the very) least. And it doesn’t look like the second half of the year or even 2021 can promise a return to normalcy.
With everything so up in the air, it can be hard to make any sort of plans, whether it...
We track our steps, try to eat healthy, and half-heartedly try to get enough sleep. Why? To make sure we have healthy futures ahead of us.
But what about planning for your financial future? If the thought of sitting down for some serious monetary self-care makes you want to run...
With the cost of living rising, one source of income often isn’t enough to support a comfortable lifestyle anymore. More than 25% of Americans now have a ‘side hustle’ such as running errands, driving for a ridesharing service or selling products online.
Why is it important to track your spending? Let us count the ways:
It can help you set and meet your goals. It can give you more day-to-day control. It can boost your ability to put together a budget you’ll stick to. And it can reinforce your priorities while helping...