Whether or even otherwise you’ve taken accounting, could remember already are familiar with the concepts of greenbacks and “profit”. Income is solely how much you earn that goes directly to your pocket, whether from an income or a corporation or various. On the other hand, loosely put, profit one is more specific in the it is when much you cash in on from an organization. it is your sales less your costs and expenses. The why profit is sometimes referred to as “net” income.
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Cash Flow Tip No 7 – Ask for progress payment s for longer projects so you’re not waiting towards end of this job before you could issue the invoice. This has the benefit of providing some security of payment as well as increasing cash flow.
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