Profit and profitability might sound similar, but they're different. To make financial decisions, understand profit vs. profitability.| Patriot Software
Net income helps you determine your business's profitability, plan budgets, and make decisions. Learn what net income is and how to calculate it here.| Patriot Software
What is an overhead cost? Your business needs overhead costs to run, but they can take over. Learn the types of overhead costs and more.| Patriot Software
Your business incurs expenses during daily operations, including selling, general, and administrative expense, or SG&A. What is SG&A expense?| Patriot Software
Knowing margin vs. markup helps you price your products. Get the most out of your pricing strategies by understanding how to calculate both.| Patriot Software
If you want to keep accurate books, you need to be familiar with the types of accounts in accounting (and their sub-accounts).| Patriot Software
Do you know how well your business uses incoming money? Learn how to calculate profit margin to see how effective your processes are.| Patriot Software
Look at gross and net income to determine your business's profitability. But what is the difference between net income vs. gross income?| Patriot Software
An early payment discount is a price cut customers can receive if they pay for purchases before the due date. Learn more here.| Patriot Software
One accounting method you can use is accrual accounting. Learn what is accrual accounting and if it's a good fit for your business.| Patriot Software
What's a profit and loss statement for small business and why is it important to you? Learn what a P&L statement includes and how to make one.| Patriot Software
Business owners can use a simple equation to find gross profit. Gross profit shows profitability and helps with decision-making.| Patriot Software
Operating costs fall into two categories: COGS and operating expenses. Learn the difference between cost of goods sold vs. operating expenses.| Patriot Software
When a customer gives cash or uses credit to pay for a good or service, you must make a journal entry for sales. Learn how here.| Patriot Software
Business owners are likely responsible for managing, accounting for, and reporting inventory. What is inventory, and how should you handle?| Patriot Software
Not sure which of your allowable business expenses might qualify for tax deductions? Check out this list of allowable expenses.| Patriot Software
What is an income statement? Do I need one for my small business? Find out how income statements can help you control your financial health.| Patriot Software
To keep your finances in order and stay on track, you need to learn about the four basic financial statements for small business.| Patriot Software
As a small business owner, there are accounting terms you should know, including net profit. What is net profit? Learn more here.| Patriot Software
As a business owner, you need to keep track of your company's financial statements. What is a financial statement? Find out here.| Patriot Software