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Especially while you’re still getting your business off the ground, it’s common to wonder whether to pay yourself or reinvest every dollar back into the business until revenue or profits reach a certain level. Those are legitimate questions that deserve a careful answer. You launched your business to build something sustainable. You’ve made personal sacrifices, invested time and money, and worked tirelessly to bring that vision to life. Many founders think reinvesting every d

As a business owner or nonprofit leader, have you ever been confused about the financial performance of your organization? You see a healthy profit on the P&L report, but when you check your bank account, the numbers don't match up. And you wonder, where did all that profit go? If this has been your experience, don't worry, you're not alone. I've met many leaders who've had similar misunderstanding of the differences between profit and cash flow. Profit communicates the overa

Most business owners use their accounting software as a digital shoebox—a place to record what happened. But what if your software could tell you why it happened? If you are using QuickBooks Online Plus or Advanced, you have access to a powerful, often underutilized feature: Classes. Classes allow you to categorize transactions beyond just the standard accounts. For instance, while your Chart of Accounts tells you what you spent money on (e.g., "Office Supplies"), Classes tel