Are you aware of the cash flow in your business or are you intimidated by your business finances?
In episode 424 of the Bokeh Podcast, Courtney Wolf of Invision Events joins us to discuss the importance of familiarizing yourself with your business expenses, profit/loss statements, and bookkeeping so that you're aware of your cash flow. Listen in as she explains important terminology for business accounting in a way that even a beginner can understand!
The Bokeh Podcast is brought to you by Photographer’s Edit: Custom Editing for the Professional Photographer and Miilu: The Simplest Way to Create and Manage Timelines and Shot Lists for the Events You're Photographing. You can also subscribe to the Bokeh podcast on the Apple podcast app, follow on Spotify, add to your playlist on Stitcher, or listen on Overcast.
About Invision Events (2:24)
Staying Afloat During Quarantine (4:30)
Embrace a Pivot
Run a Lean Business
Finance Terminology (13:14)
Cashflow - the total amount of money that is transferred in and out of the business.
Liquidity - the availability of liquid asset to a business.
Liquid Asset - cash (to a business).
Profit/Loss Statement: (16:25)
Standard financial statement that summarizes the revenues, costs, and expenses that are occurred during a specific time.
Generate Profit by: (16:25)
Increasing Revenue
Reducing Costs
Both
Accounting Software (26:56)
Excel Spreadsheet
Quickbooks
Wave
Tracking the Breakdown of Profits Per Client/Service (40:18)
Variable vs. Fixed Expenses (43:23)
Links
www.invision.events
educateempowerencourage.com
Instagram.com/courtney_invision
Facebook.com/Invisionevents
courtney@invisions.events
Template
Episode 328
Education Empower Encourage
Kesha Lambert
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