When recording business expenses, it’s important to remember that all costs fall into three categories – direct costs, indirect costs and general & administrative costs. It is important to account for your expenses accurately because it helps you understand where you are spending your money and at what point your business begins generating a profit. …
This week’s blog will be short and sweet. I was having a conversation with a client and she kept saying expenditure and I kept saying expense. When finally she asked, “Well what’s the difference?” Well believe it or not, there is a difference. A subtle one – but a difference none the less. And depending…
Profit (n.): the excess earnings over expenditures you make from providing services or selling products Breaking Even (adj.): the point or level of financial activity at which expenditures equal income; no profit or loss Is your business making a profit? Most people truly believe they are. But if they were to sit down and really…
