How to Record Inventory You Decide to Keep For Yourself
How to record inventory when you want to keep something for yourself.
How to record inventory when you want to keep something for yourself.
A bookkeeping reconciliation, or reconciliation for short, simply means that you are comparing 2 sets of financial records to make sure that they match.
Which reports in Shopify will show you bookkeeping records you actually need?
Good old paper money still plays a big role in your business. Managing it properly is key to keeping your finances in check and your stress levels low. Let’s dive into why it’s important and how to master it.
As a retail boutique owner, understanding your break-even point is crucial to ensure having the sales to cover your expenses. The break-even point is where your total revenue equals your total costs, meaning you’ve neither made a profit nor incurred a loss.
Have you ever used personal funds for business expenses? It’s common for small business owners. Maintaining accurate records, creating a reimbursement form, and tracking reimbursements is key. Good bookkeeping practices provide valuable insights into your business’s financial health. Learn how to handle personal expenses with ease.
I’m here to tell you how the Profit First system works, and how you can use it to help manage the cash in your retail business.
Deposits from Shopify or any other payment processor are not just your “sales”. They can represent up to 6 separate bookkeeping items.
Alright, you’ve got your business off the ground and all the operations seem to be running smoothly You’re getting a steady stream of customers and sales, however, you are ALWAYS seemingly short on cash. Where is it all going??
Unlike a regular employee, being a business owner doesn’t always come with a regular paycheck. But what does it look like to pay yourself? Learn more here!