The simplest way of using credit cards with MyCorbu is to make an Expense transaction whenever you charge something and mark it paid. Then pay off the credit card every month.
If the credit card is not paid every month, this method creates complexity. For your tax return you will have to determine which of the expenses that you have charged have actually been paid.
This complexity can be improved upon by always making partial payments equal to the interest plus the cost of one or more items. This is still messy, but not as much.
Every project-based firm has a ratio of billable to non-billable hours that sets the threshold for profitability. See how to establish yours here.
MyCorbu calculates what is actually happening for you. The individual can see their ratio on their Timesheet page. The overall firm’s ratio is accessed from the All Time page. And Admins can access each staff member’s ratio. Go to Admin page > Staff Details button > ‘detail’ link in table.
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