Selling Products Internationally Just Got Easier

The red tape and regulations associated with exporting goods has kept many small businesses from considering international marketing. Frank Lavin, CEO and founder of Export Now, is determined to change that. He’s founded a company that will handle all the logistics and make it easy for small U.S. businesses to market their goods to hundreds of millions of Chinese consumers. Read More »

Tags: Chinese Consumers, Chinese Export, Council Staff, Department Of Commerce, Distribution Center, Exporting Goods, Frank Lavin, Innovative Thinking, International Marketing, International Trade Laws, Mega Mall, Middleman, National Security Council, Red Tape, Retail Outlet, Small Business Owner, Small Businesses, Staff Member, U S Department, Undersecretary

Cash Basis Accounting: The Missing Numbers

Cash basis accounting is used by a large percentage of small businesses. It is used because it is simple to understand and requires very basic record keeping skills to maintain. It also allows a company to pay taxes based only on revenues collected rather than on the full amount of revenues billed.

In cash basis accounting, deposits from sales or services are recorded as revenue. Checks and other forms of outgoing cash are recorded either as cost of goods sold or operating overhead expense. The net results determines the company’s profit or loss. A very simple system, as stated above.

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Tags: Bank Accounts, Cash Balance, Cash Basis Accounting, Cash Position, Checks, Critical Number, Current Assets, Desperate Need, Financial Position, Financial Statements, Overhead Expense, Payables, Point In Time, Profit And Loss, Profit And Loss Statement, Profitability, Receivables, Relationship, Small Businesses, Vendor Invoices

But HOW do You Make Sure Timing is Correct?

Last week we talked about timing and making sure that certain costs were entered when they are relevant. This is a very difficult territory for some and confusing for others.

I am going to try to make it simple (and I hope I’m able to do so!)
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Tags: Abc Inc, Accrual Accounting, Books, Business Income, Business Operations, Cash Basis Accounting, Graphic Designer, Invoice, Irs, January February March, Memory, Money, Pay Taxes, Small Businesses