What’s the most frustrating part of running a small business? For many small business owners, taxes and accounting are right at the top of that list. They tend to feel so complex that many small business owners are resigned to getting them wrong (and potentially...
As a business owner, you’ve probably heard about the terms income statement, profit and loss statement, or P&L. And you might have been perplexed by these terms and wondered what exactly they mean. Good news: They all refer to the same thing—the financial...
Owning a small business isn’t easy and it can often feel like you need to be an expert in many different areas all at once. You’re expected to market your business, maintain great relationships with your customers, manage your finances, and so much more. On top of...
“Net 30” is a common term in the self-employment and small business space, usually found in contracts or on invoices to define payment timelines. It’s important to be aware of what Net 30 involves and how it works so you can decide if it’s suitable for your business....
When you invoice a customer or client, there are certain expectations for both sides. Just as your clients expect you to complete the work they are being billed for, you expect them to do their part and pay what is due, on time. Business owners should use payment...
It can be easy to overlook the importance of opening a business bank account, especially if your business started out as a side gig. Bear in mind that using your personal bank account for your business finances will make tax season a headache, and can even be risky,...
