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It is easy to start a company and learn how to sale your services and deliver what you promised. But, do you know the other 4 steps of a healthy business cycle?
Watch this video to learn how to complete the entire business cycle. Spoiler alert...you may be missing the business finance side of the...
In this video, you’ll learn how the following affect net profit and cash flow:
0: 25 Business income taxes for “pass-through” entities
1:44 Loan payments – interest and principal
2:57 Replenish cash reserves
3:37 Replace old assets to maintain current sales level
4:3...
It’s tempting to look at the $106,200 balance and assume everything will fine. This is more than enough to pay the bills on time. The problem is customers do not always pay on time, if ever.
If your AR report looks like this, then you are in good shape. This is an example of a healthy AR report.
...I don’t know. We’ve never met, but I will help you answer the question. Here are 3 signs your AR balance is too high:
1. You are not able to pay your bills on time.
- This may sound like Captain Obvious but it is common for owners to assume they need to sell more. When the cash flow problem is h ...
Collecting money is one of the most dreaded aspects of running a business. I would rather scrub my bathroom floor with a toothbrush than pick up the phone and ask a customer to pay a past due invoice. The secret is to have awesome employees on your team and great systems in place. These tips will ...
Video Highlights
1:07 Overview of the Cash Method
3:25 Advantages of the Cash Method
6:04 Disadvantages of the Cash Method
9:06 Overview of the Accrual Method
12:42 Advantages of the Accrual Method
13:58 Disad...
Unfortunately, this happens more often than you might think. Business owners and managers enjoy watching revenue soar but shift the focus to generating new sales instead of making sure all of the cash generated by the business is used wisely and collected on time.
First, it’s important to understan...
Revenue, profit and cash are all needed to operate a healthy business. But they are very different numbers and tell different stories about your operations.
In the perfect world, your Revenue, Profit and Cash balance will grow at the same rate. Unfortunately, it’s common for businesses to generate ...
It depends.
If your business is a C Corporation, then the answer is easy – Yes. The company pays income taxes directly to the IRS and state. The business will issue a check made payable to the IRS for the amount shown on the business tax return – IRS Form 1120.
For all other companies, the answer ...
