One of the questions I get asked all the time is “how do I budget when my income varies?” After being in business full-time for nearly seven years and building a team of seven amazing freelancers, I have learned that managing an inconsistent cash flow is a challenging skill to master. However, with patience, passion, […]
Do you know the difference between an employee and an independent contractor? That’s what regulators in California asked Uber in 2015 when the ride-sharing giant was sued for “misclassifying” a driver as an independent contractor. They eventually ruled that the driver was an employee. Which led to a much larger lawsuit in 2016, when Uber paid misclassified drivers […]
All you need to know to do your own bookkeeping with confidence
If you run a business and you have debt, you’re not alone. In a Gallup poll, 36 percent of small business owners said they were uncomfortable with how much debt their businesses carried. Forty-nine percent said they find it extremely difficult to manage their current debt. While you might have to take on debt at […]
The retained earnings line on your balance sheet reveals a lot about a business’ state of health. This article will examine exactly what retained earnings are, how their value is calculated and why the number is so important.
The essential difference between cash accounting and accrual accounting is simply one of time. In the case of cash accounting, book entries for income and expenses are only made when a monetary transaction takes place. Whereas accrual accounting accounts for income and expenses when they are actually earned or incurred. In this article we take […]
Introduction Keeping your books in order is a key piece to running a healthy, successful business. Without bookkeeping, you’re driving blind like a car without a gas gauge. Sure, the car is driving fine, but who knows how long before you have to pull over and wait for a friend to bring a jerrycan? […]