What does an income statement tell you about your business?
A New Entrepreneur's Guide series What does an income statement tell you about your business? You won't get a complete picture of your company's finances just by looking at your bank account balance. The bank account balance tells you how much money the business has available right now, but it doesn't tell you whether the business has been profitable. An income statement, on the other hand, shows what makes up your company's income, what kind of costs are incurred by operations, and whether the company has a profit or loss at the end of the financial year. […]
First employee? This is how payroll starts in practice
New Entrepreneur's Guide Series - First Employee? How Payroll Starts in Practice Hiring your first employee is a significant moment for many entrepreneurs. It signifies that the company has taken a step forward and growth is starting to materialise. At the same time, it brings new responsibilities, one of the most central of which is payroll. Many entrepreneurs find themselves wondering at this stage what needs to be considered and where to begin [...]