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Gross and net profits are a must if you want to better understand your company’s profitability. In this article, we will compare gross profit vs. net profit and explain how they are calculated and why they are important for a business’s financial health and financial goals.   What is gross profit? A business gross profit refers to the funds your business earned over a specific period, excluding the cost of goods sold. You can find gross profit (aka gross income) on a company’s income statement. Identifying the business’s gross profit allows companies to understand if they earn enough funds to keep

It’s the start of back-to-school season! And what better way to educate yourself on financial services and solutions than reading Genome’s dedicated blogs? Find out what new articles we shared in August below! Consider getting a current account Current accounts are the basics of banking, one of the first things people get on their financial journey.  If you didn’t know, a current account is a no-interest deposit account designed for everyday transactions, offering unrestricted access to funds.  Interestingly, various types of such accounts exist, including standard, packaged, premium, joint, and foreign currency accounts. Our team describes all of these, as

Cash flow forecasting is not some fancy term; it is a significant tool for any business. It’s all about predicting cash inflows and outflows for the future.  In the article, our team will explain how it works, provide examples of the best software and tools for cash flow forecasts, and answer the most common questions about determining future cash flow. What is a cash flow forecast? A cash flow forecast is a financial tool that estimates the amount of all the money expected to flow in and out of a company over a specific period, from a few weeks to