Sign 12 Month Income Statement Electronically

How to eSign a document: Sign 12 Month Income Statement electronically

You know what conversation starter will make you the life of the party? Spreadsheets. Ha... maybe not unless it’s a wild accounting party, or if everyone really loves math. Even then… ehhhh. Honestly, “spreadsheets” are kind of the vegetables of the business world -- the very idea of them makes some people queasy. But that’s ok! They can be intimidating, but they’re not impossible to understand. Today we’re going to learn to love ‘em, because basic accounting can make or break a business. If we lose track of expenses or overestimate a revenue stream, we might end up questioning where all the money has gone. The key is using organized systems and knowing the right vocabulary. And by the end of this episode, we’ll be bookkeeping pros... or at least able to talk about balance sheets and profitability with an accountant. I’m Anna Akana, and this is Crash Course Business: Entrepreneurship. [Theme Music Plays] Every entrepreneur has to seriously think about /how/ we’re going to take in money and where we’re going to put it. The place (and it could be a digital place) where customers hand over money in exchange for a product or service is called the point of sale. Cash registers, credit card machines, the checkout page on a website -- these are all points of sale. Now, we want to make the buying process as painless as possible so customers will feel good about doing business with us. And having a seamless point of sale system is a big part of that. Here are a few options. Some of the most popular electronic systems are created by Shopify, Square, and PayPal. Both Shopify and Square help you set up e-commerce sites and have hardware to use in physical stores to register sales. And PayPal is an online checkout system that makes it really easy for customers to make purchases. These are great options for entrepreneurs with a lot of transactions or who are selling a product. If your business isn’t set up for immediate transactions, you can send customers invoices -- basically, itemized records -- to get paid. Many freelancers do this! Customers may want to pay by credit card, so you might still look into one of those systems we mentioned. If you’re using a system that can process credit cards, there will probably be a 2-4% processing fee, so you’ll want to take that extra cost into account when pricing your products. Then, of course, we’re going to need somewhere to put all the revenue, like a business bank account. This is just like a personal account, except it has a business name on it. Unless your personal account is just under your mattress. In which case, it’s VERY different. This move is all about organization. Imagine scrolling through your transaction history if you only had one account for both you and your business. It’s just a swamp of latte receipts, supply runs, grocery bills, production costs, and more. Some of those were personal...