Stressed about keeping track of your e-com finances? Don't worry!
In this course, you will learn how to manage your small businesses' bookkeeping and the resources that will help you achieve it.
05/17/2021
Assets are items of value that your business owns. For example, your business bank account, company vehicles, and equipment are assets.
Liabilities are debts that you owe to others. For example, your payables are liabilities.
Business equity shows your ownership in the business.
05/13/2021
Proper tracking your receipts will help you separate taxable and nontaxable income and identify your actual deductions. Keep track of deductible expenses: In business, things get busy — and that is a good thing. Keeping receipts of all your transactions will help you claim all of your possible deductions.
05/12/2021
Everything that exists in the world began as an idea, or, in other words: a DREAM!
05/03/2021
If you wake up and you ask yourself "Would I be happy if this was my last day on earth?" and the answer is NO, you can change that RIGHT NOW! Make sure you do something worthwhile with the time you have before it is too late.
We all have the ambition, but with that comes the fear to not follow through. Make sure you leap into your dreams rather than settle for the mundane.
Always remember this...
Better To Try And Fail Than Never To Try At All 💯
04/29/2021
1- Gross income refers to the total income earned before taxes and other deductions.
2- Net income is what remains after subtracting cost of goods sold, operating expenses and non-operating expenses from revenues.
3- Expense is the cost of operations that a company incurs to generate revenue.
4- Owner's draws are withdrawals of a sole proprietorship's cash or other assets made by the owner for the owner's personal use.
04/28/2021
You can better support others, when you nurture yourself first! 💞
04/27/2021
Together we will be able to provide you with all of the tools you need to get your business off the ground smoothly. 🚀
Avoid making the mistakes that will cost you a lot of money down the road, that’s why we’re here and together there’s no challenge that can’t be faced! 🤝
04/26/2021
This display of dependence shows the humane side of the company and makes the relationship more real. 🤝
04/22/2021
The balance sheet is one of the three (income statement and statement of cash flows being the other two) core financial statements used to evaluate a business.
04/21/2021
Tracking your spending is a way to take control of your money. Knowing exactly how much is coming in and going out can help you spend less and save more. 💯
04/19/2021
“Never discourage anyone who continually makes progress, no matter how slow… even if that someone is yourself!” — Plato
04/15/2021
When businesses create budgets, there are several key elements that they will need to cover:
👉 Revenue and revenue components such as sales or service revenue and investment returns
👉 Variable costs such as one-time purchases and cost of goods sold (COGS)
👉 Fixed costs, including operating expenses and overhead
👉Net and gross profit amounts