Discover the differences, advantages, and drawbacks of single-step vs. multiple-step income statements for better financial ...

Learn the critical differences between revenue and income, their impact on financial health, and how understanding each can ...

The difference between income and expenses is simple: income is the money your business takes in and expenses are what it spends money on. Your net income is generally your revenue, or all the money ...

Expense reimbursements aren't employee income, so they don't need to be reported as such. Although the check or deposit is made out to your employee, it doesn't count as a paycheck or payroll deposit.