Running a Business

Managing Money

Think of the business as being an organization that takes money in, does some function, and returns money.  Hopefully, it returns more money than it takes in.

Sources of Money

·        Sales of product from customers

·        Investments of profits

·        We talked about receiving tax refunds (not always a direct source).

 Where the Money goes

• Insurance
  • Medical
  • Personal
  • Liability
  • Worker’s Compensation
  • Bonds
• Utilities
  • Phone
  • Electricity
  • Gas/Oil for heating
• Transportation
  • Gas
  • Automobile Costs
• Communications
  • Phone
  • Internet
• Advertising
  • Phone book
  • Billboards
  • Commercials
  • Fliers
  • Telemarketing

Main Documents we went over