Right Column Financial, Inc.

What is included in your expenses when running your business? Business expenses include all things fixed: costs you expect to incur every month. Some common examples include payroll to your employees, rent on your office space, subscriptions to software you use, your advertising spend, and more. These costs exist no matter how many units you sell or how many services you complete each time period. For more advice or tips on all things finance and accounting, reach out to Right Column at https://www.rightcolumn.com/

As a business owner, are you currently providing hazard pay for your employees? Amidst the pandemic, some local governments are requiring or encouraging businesses to have this set up. Learn a bit more about hazard pay, local requirements, and if you are eligible from the ADP: https://bit.ly/3fqjyvi

When you take a look at your books as a small business, what is included in your cost of sales (or often called Cost of Goods Sold)? Your cost of sales only includes direct costs of producing the goods or services, so this changes each time period depending on many factors such as units sold, production costs, and price of materials to make the goods. These variable costs change, so it is important to weigh these costs relative to your revenue to track the health of your business. For more advice or tips on all things finance and accounting, reach out to Right Column at https://www.rightcolumn.com/

It has really been a pleasure working with Mike and the team. They share the same dedication to accurate and timely information and present it in an organized form so we can drive the desired results. - from Jay Eastland. We love hearing how Right Column helped out a business and produced financial results they are looking for. Learn how we can help your business at https://www.rightcolumn.com/

Today is June 15th, so this is your reminder that quarterly estimated tax payments are due! Many businesses pay taxes this way, so it is important to keep an eye out for deadlines. Always feel free to reach out to Right Column if you have any questions! https://www.rightcolumn.com/

As you are running your small business, what is included in your revenue? In short, revenue is the money coming in from the sale of the good or service you offer. There are different types of revenue, so to truly understand your business, it is best to keep them separate. Different types are more valuable than others, such as monthly recurring revenue (MRR) or annual recurring revenue (ARR) being valued much higher than one-off project based revenue. If and when you ultimately look to sell your business, investors or buyers will pay a premium for MRR or ARR; this shows how integral these metrics are. If your company doesn’t have MRR or ARR, reach out to Right Column to discuss converting your business to this type of model: https://www.rightcolumn.com/contact/