The Break-Even Point – What is it, Why does it Matter, and how do you calculate it? Knowing what your break-even point is, is critical in any business. Whether it’s understanding how many units you need to sell or how much revenue you need to generate, understanding break-even is the difference between success and failure. […]
In accounting terms, Cost of Goods Sold is simply the cost of an item to a retailer, manufacturer or distributor. COGS is a form of expense, and is recorded in an income statement. There are two ways to calculate Cost of Goods Sold, which we will look at in this article. First though, let’s look at […]
As a freelancer, your money is made on a per-task or per-job basis. When you’re working on multiple projects at a time it can become confusing when trying to bill clients and structuring payments. What you need is a simple, robust, all-in-one solution that will support your business’ monthly billing requirements. So, let’s take a […]
Curious to know how to get those dreaded invoices paid on time? Not sure how to create easy invoicing processes for your clients and wish there was a simple way to just get the bills paid? Well, we can’t promise any magical solutions, but can provide you with a few ways that are practical, affordable […]
Managing your time and increasing productivity as a freelancer, especially when it comes to invoicing, can be a huge challenge. You already feel overwhelmed trying to do right by your clients, booking appointments and getting more business. Who has to the time to do more? While you maybe overworked juggling so many balls at the […]
Time and resource management are crucial business fundamentals, not only from a functional point of view, but also from a financial perspective. For entrepreneurs and owners of small businesses, knowing how much their time is worth and how much time each task consumes is critical. However, could inefficient time tracking strategies themselves be costing you […]
As a freelancer, setting and negotiating rates with clients can be one of the most challenging aspects of running your own business. However, with the right approach, you can ensure that you are getting paid what you’re worth while also building long-lasting relationships with your clients. 1. Research the market: Before you set your rates, […]
The moment you purchase something, its value begins to decrease. In accounting terms this is called depreciation, and it is crucial in determining the value of your business’s assets. Straight Line depreciation is the most common form of calculating the depreciation of an asset’s value over the course of its life. Very simply, each accounting […]
Even for the experienced, estimating a new IT maintenance job can be difficult. You want to make a healthy profit; but you don’t want to price yourself out of the running. We’ve created this simple 7 step guide to pricing IT maintenance jobs to help you stay both competitive and profitable! Step 1 – On Site Visit […]
When you want to know the financial position of your business at a specific point in time, a balance sheet is the document you need. A balance sheet is a record of a business’s assets, liabilities and its shareholders’ equity on a given day. It’s a top-level view of the total amount your business owns, […]
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