Balance Your Own Books With Help From These Courses

Take the hassle out of tax season, budgeting, and financial management. February 13, 2020 2 min read Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners. It’s tax season which means you’re likely making more visits to your accountant than you’d like. Obviously, it’s important to file correctly lest you suffer costly penalties or risk an audit from the IRS. However, paying an arm and a leg for an accountant to pore through your financial documents isn’t exactly the most fun part of tax season, either. Don’t make it a habit. Become your own accountant with help from The 2020 Accounting Mastery Bootcamp Bundle. Whether you’re running your own small business or just want to have a better view of your own […]

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What Is Accounts Payable? Everything Business Owners Need to Know – ShoeMoney

Each year, just over 400,000 startups open their doors for business. For some, the driving force behind the business is someone experienced and confident in what needs to be done to make their fledgling company succeed.  For others, the experience is lacking, and many questions pop up as the tiny startup forms into a bona fide business. One common question is, what is accounts payable?  This is one of those critical questions because it directly relates to how you manage the startup’s finances. Keep reading to learn about this section of your business’ finances and why they’re so important.  What Is Accounts Payable? Accounts payable is a complete list of the debt and liabilities of your company. If you make orders on credit or have materials ordered before paying for them, then you have accounts payable.  When looking at the accounting for a business, these are liabilities creditors have a right to ask […]

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The Short Bookkeeping Guide for Freelancers and Affiliate Marketers – ShoeMoney

You’ve jumped ship. Now you’ve gained your first client or two or maybe you’ve started gaining money from your affiliate site. You’ve never had to track earnings before. You don’t even know a whit about taxes. Now you’re scared. You thought this life would be free and fancy. But it’s not as glamorous as you’d imagined. All the paperwork payroll was doing for you back at your 9-5, you now have to keep track of. You’re not in charge of your own small business accounting. Don’t worry. Here’s a pillow to scream into. Feel better? Now listen to me. It’s time to settle down and start taking action. Keep reading to find out how I do bookkeeping as a freelancer. 1. What You Need to Know About Bookkeeping Bookkeeping and budgeting are kind of like identical twins. They look the same, but in the end, they’re two different people who […]

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This Tool Can Help Overhaul Your Company’s Accounting

Nummuspay creates a seamless checkout and payment system for customers. April 30, 2019 2 min read Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners. There’s a great feeling of satisfaction that comes with successfully setting up your online store. Seeing all of your products perfectly lined up and ready to ship to eager customers is an accomplishment that deserves celebrating. However, managing the nitty-gritty of processing payments and accounting can stress out the savviest entrepreneurs. A one-year subscription to the Nummuspay Startup Plan can simplify your checkout process, so you can sit back and watch the cash roll in. Nummuspay is a user-friendly platform that performs a lot of complex tasks. It eliminates the need for you to write and maintain custom billing […]

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The 5 Most Important Accounting Reports for Your Small Business

Here are the key reports to know about, including profit and loss statements, revenue by customer and more. December 28, 2018 5 min read This story originally appeared on Due When it comes to small business accounting, most people know that it is important to keep your records updated for taxes. However, there are many more benefits from small business accounting that you can use to grow, improve and expand your business. Here are some of the most important accounting reports for your small business that you should know about. Profit and loss statement/income statement The most important report for any business is the profit and loss statement, also called a P&L or income statement. This report tells you how much money a business makes, as well as a lot more. A well-run bookkeeping operation includes details for where you spend and where your money comes from. For example, I can look at […]

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9 Tips for Managing Your Business Finances—Guest Post from Dave Heistein

Look underneath the surface of any good business, and you’ll typically find finances that are well-managed and in order. This is why I wanted to invite my personal CPA, Dave Heistein from ProfitwiseAccounting.com, to write a guest post to talk about what we as entrepreneurs can do to best manage the finances of our business. I’ve been working with Dave for over five years now, and he’s been fantastic. CPAs come in all styles, and I love working with Dave because he’s always very honest and he plays it safe for the benefit of my family and my business. Here he is with some tips to help you manage your own business finances, no matter what level you’re at right now. Most of us would agree that highly successful people tend to share common traits such as tenacity, vision, hard work, luck, and business savvy. We often say these people, […]

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SPI 231: Attorney Roundtable: Money and Legal Considerations for Starting Out

In today’s episode, I’m digging deep into one of the murkiest, most mysterious territories for beginning business owners: the legal ins and outs of running a business. I see too many entrepreneurs abandon their great ideas thanks to legal confusion or copyright snafus, which is why I’ve brought two lawyers here today—Richard Chapo and Alena Herranen—to walk you through everything you need to know. Richard and Alena will answer the questions I hear you asking over and over, covering everything from trademark law and copyright infringement to affiliate marketing and content disclaimers. You’ll get actionable tips for improving the legal language on your website, finding business insurance, knowing when to seek out a lawyer for help, and a whole lot more. Get a pen ready—this is legal advice every entrepreneur needs to hear! Thanks for Listening! Thanks so much for joining me again this week. Have some feedback you’d like to share? Leave a note in the […]

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