At the end of every year business owners all over America look at their profit and loss and see how their businesses performed. At first they only look at three numbers – gross revenue, gross profit and net profit. After that they dig into the meat and potatoes of how those numbers were calculated. The…
When most people think of job costing they think of construction businesses. But you can us job costing in any business that has multiple streams of income that are significant to that businesses bottom line. Job costing is all about assigning the proper costs to individual project or jobs, to help determine its profitability. In…
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. …
