Is your contracting business riding the money roller coaster? One month you’re swimming in cash, the next you’re digging through the couch cushions to make payroll. This financial whiplash isn’t just stressful—it’s unnecessary. Cash flow doesn’t have to be a mystery. It’s simply about timing—ensuring money flows in before bills come due. No MBA required. […]
Running a business without financial projections is like taking a road trip without a map. You might eventually reach your destination, but you’ll face unexpected detours and might run out of gas along the way. This guide will help you understand how to create simple financial projections that can guide your business decisions and set […]
Extending credit to customers can help grow your business, but it also comes with risks. Not every customer pays on time — or at all — which is where bad debt comes into play. Knowing how to calculate and manage bad debt expenses is important. This helps businesses that rely on invoicing stay financially stable. […]
In this guide, we’ll break it all down in a way that’s easy to understand. We’ll go over how to calculate gross income from W2, what gross income is, where to find it on your W2 form, and why it matters. Whether you’re getting ready to file your taxes, apply for a mortgage, or just […]
Sometimes, an employee’s paycheck doesn’t match what they were supposed to earn. When that happens, retroactive pay (retro pay) is used to fix the mistake. This can happen for a few reasons—maybe there was a payroll error, a raise wasn’t applied on time, or someone miscalculated their wages. Whatever the reason, it makes sure employees […]
In this comprehensive guide, we’ll explore what is a pay stub and the best practices to follow. Everything you need to know, including the information they contain, their significance, and best practices for managing them. Understanding financial documents like pay stubs is essential for both employers and employees. A pay stub, also known as a […]
If you’ve ever reviewed your bank account details and come across the term “ledger balance,” you may have wondered, “What does ledger balance mean, and how is it different from my available balance?”. Understanding the concept of a ledger balance (LB) is crucial for managing your finances effectively, especially to avoid overdraft fees or financial […]
Gross profit is a financial metric that represents a company’s revenue after deducting the cost of goods sold (COGS).
Break-Even Point is that moment when the company’s income equals the expenses, so there is neither benefit nor loss.
