BudgetEase Blog - Making YOU Profitable™

    Real Estate Agents: More Time for Clients, Less Accounting

    As a real estate agent, you are more than likely paid as an independent contractor. Tracking your income from commissions and fees may be easier (and more rewarding) than tracking all the tedious expenses you incur each year.

    'Tis the Season: Reflect. Relax. PLAN.

    Happy Holidays to you and yours! As you allow yourself time to unplug and reflect may you find the closing of another year peaceful.

    Why a Bank Reconciliation Makes YOU More Profitable

    Business owners often determine their cash balance by checking what the bank shows online in the accounts at a point in time.  You cannot accurately forecast cash flow unless you match and verify activity in the bank statement to QuickBooks or whichever accounting system you use.  

    Know Your Real Worth – The Balance Sheet Basics

    Just as important as a proper P&L Statement, business owners should put equal weight on having an accurate balance sheet. Some owners find it challenging keeping the accounts in this report correct.  The simple formula on the balance sheet is: assets = liabilities + owner’s equity. Knowing your business’s real net worth is about more than just balancing.

    Am I Making Money? P&L Basics

    As a business owner, cash in and cash out of your bank account may be the primary focus. However, the true definition of a profitable business is determined through consistent tracking of each client, each sale and all related expenses.

    9 Reasons Why Financial Reports Make YOU Profitable

    At BudgetEase, our motto is: Making YOU Profitable. How will you know YOU are profitable? You need solid financial reports in order to answer this question. BudgetEase can turn your financial information into a set of reports you can count on.

    What To Do When Opening Balance Doesn’t Match the Bank Statement

    Have no fear! When the opening balance does not match the bank statement there are two common reasons:

    Correct Accounting for Barter Transactions

    Are you a dentist who does work in exchange for IT services? Maybe you are a physical therapist who exchanges services with someone who does your social media. These are great examples of bartering.  

    Lessons Learned from Uber

    1. MOVE FIRST AND FAST….time can be your enemy!

    What idea or growth area has been on your to-do list too long? Sometimes you can make a lot of money with a product or service that has a short life cycle.

    What Should My Financial Dashboard Look Like?

    A Financial Dashboard should represent a one-page graphical snapshot of Key Performance Indicators:

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