I said last time I'd write regarding a decision about Flat Rate and going into business, but a topic came up on the Service Round Table forum that intrigued me so much that I couldn't help responding. (And I hope you smart owners have leveraged your bucks by spending that $50 to join the Service Round Table by now!) The topic had to do with — may the heavens help us here! — understanding the basics of accounting!
How do small contractors know if they made any money today?
I'd like to know if there's a simple answer to the question, "Did we make any money today?" It seems simple: We earn a bunch of money. Yay! But then we spend a lot to stay in biz. Boo! It seems to me there should be something left for us to spend on such frivolities as … well, say, food.