About two weeks ago, Josh and I pulled off Caldera’s first-ever promotional event. While we while we were running around downtown Philadelphia shopping for the event, we had a series of funny conversations about what constituted a business expense vs. what did not. In my mind, the definition of a business expense is very clear. The buckets of expenses that are each of our income statement’s lines live very clearly in my consciousness, always.* However, Josh pointed out something I had never realized before: that’s not the case for most people. In fact, he pointed out, freelancers struggle to understand the financial management of their business overall. It really got me thinking about the WordPress adage that all community members have something to offer, and most don’t realize it. But that’s for another day – today is a quick and dirty course on financial management for freelancers.
The Basics
The challenges of cash flow are usually the main obstacle to most freelancers. Simply defined, the flow of cash is the money you get and the money you spend at any given time. Automating most of your interaction with your capital transactions will go a long
Source: https://managewp.org/articles/14100/how-to-manage-your-business-finances-as-a-freelancer
source https://williechiu40.wordpress.com/2016/12/30/how-to-manage-your-business-finances-as-a-freelancer/
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