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.
Happy Holidays to you and yours! As you allow yourself time to
unplug and reflect may you find the closing of another year peaceful.
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.
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.
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.
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.
Have no fear! When the opening balance does not match the
bank statement there are two common reasons:
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.
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.
A Financial Dashboard should represent a one-page graphical snapshot of Key Performance Indicators:
