Profit does not Equal Positive Cashflow It’s an odd statement, but it is a fact – profit does not equal positive cashflow. Profit is the result of a financial period (like a month) when your incoming revenue exceeds the applicable expenses. Cashflow is the way your income and expenses flow through your bank account. There…
You cook, We clean (the books): Process Design Process Design is critical to any successful business model. Particularly the restaurant business where having great food doesn’t solely equate to success. Your food and finances have to be solid. Here, we explain how Two Sense can help you manage your food and your financials with…
How To Do Bookkeeping for Small Business Who doesn’t love a helpful “how-to”? We appreciate any time someone asks questions surrounding finances or budgeting for business and so on – numbers are our thang! So, specifically, one question us accountants are often asked is how to do bookkeeping for small business. While there isn’t a…
Before we start, Accountants (like me) often use terms that are assumed to be understood by the general public. Yes, it’s obnoxious, confusing, and deteriorating to communication and learning. To avoid you Googling the nerdy terms in this article here’s a great resource for all my favorite accounting jargon. Today, I’ll break down Accrual-based…
You’ve done it. You’ve decided to start a small business, call it consulting, your passion, a side gig, you are ready. You bought a laptop, purchased a business license, did a little marketing, now what? Where do you put these expenses? Are they all charged to the same operating line? Or, maybe you’re opened…
Cost effective ways to provide for baby as new parent Whether you are a parent-to-be or have already started your brood, you likely know that the cost of a child can be rumored to be daunting and unknown. The good news is that raising children doesn’t have to be a big expense. There are…
Reading your profit and loss statement can help you make quality business decisions for growth! Here, we summarize how your P&L statement affects profits.
5 Ways to Teach Kids about Money One of the most important aspects of anyone’s life skills is to learn how to manage money. While traditional schooling may teach children to identify coin values and count cash, it’s up to us as parents to teach behaviors around spending, saving and overall management of money. …