Things You Should Not Play Games With: Invoicing Edition

It’s not as dire as it sounds but changing my merchant account was not the seamless, uneventful transition it could have been. In the cool light of day, most of the technical issues are my fault but then I’m Gen X so I learn by doing. Also, that means that I don’t always know the …

Business vs Personal Expenses – not quite oil and water but close

The first thing that you do when you start a business is open a checking account. This is a fantastic introduction into the world of entrepreneurship because it turns out to be more complicated, take longer, and cost more than you think it should.Before that, you may have started your business using your personal accounts …

FREE ESTIMATES?!? Are You Crazy?

I read an article recently that recommended contractors stop providing free estimates. It caught my eye because conventional wisdom is for homeowners to get three estimates before getting any work done.Now granted this is from the perspective of a homeowner and not a contractor. Those three estimates that you are supposed to get cost someone …

Why this formula: Sales – Profit = Expenses

Mathematically this formula is the same one we use for GAAP accounting with a little spin. What you may normally see is Sales – Expenses = Profit but throw algebra at it and you come up with the same thing: Sales – Profit = Expenses This one simple and remember, mathematically sound bit of manipulation …