How do business owner gets paid ??
Ok, let's say that i have employees and i have a great amount of customers. But how do i know how much money that the employees earn ?? what if they steal my money ?? wth. I don't understand this part of the business. how am i suppose to know how much money they made. And how do i collect the money
How does a business owner gets paid ??
- oliviaLv 55 months ago
Sole proprietors pay themselves on a draw, partnership owners pay themselves on guaranteed payment or distribution payments, and S and C corporations pay themselves on salary or distribution payments. All pay is generally taken from the business's profits.
- 5 months ago
Every dollar is theirs cause their there on boss
- JudyLv 75 months ago
If you own a business, the customers pay you, and you pay your employees an agreed upon amount.
- JohnLv 75 months ago
If you are incorporated or some other legal forms, then there is no actual (legal) owner and everyone is an employee of the corporation - I know some will argue but this is a kindergarten answer. If you are a sole proprietor, like me, all money that my business makes is mine, If I want to take the entire month's receipts and fly off to Hawaii with a hooker there is nothing legal to prevent me from doing that. The reality is that if I did that everyone who I owe money to will sue me, and my business will fail immediately. So it is money management that makes a business succeed. The thing about employee theft? The first rule of security: Don't give them the opportunity.
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- Casey YLv 75 months ago
Depends on the business. My business sees little to no cash and we issue receipts anyway, so there is a record of incoming money.
With a small cash business, yes, this is always going to be a concern. Cameras, training, diligent oversight, etc...
- Huh?Lv 75 months ago
Financial controls will depend on the business model. Not every business is the same, retail businesses will have a very different process than a IT service company.
The business owner can give himself a salary or the owners can get money distributed to them via dividends (for a corporation), or distribution of profits (for an LLC).
- No MercyLv 75 months ago
my friend's husband owns a hair dressing salon with his friend. and he is male and NOT a hairdresser. so that his employees do not steal money he and his friend alternate sitting all day at the hairdressing salon and processing fees at a cash register. this is how. first u get a cash register and then u see that all the money goes through it. at the end of the day u count the money in the cash register and the amount of money processed though it
- Anonymous5 months ago
When I had a business, any money left was mine. I could leave it in the business, take it out and pay bills or invest it in stocks. Whatever.
I did not have employees. It was me. Only.
- A HunchLv 75 months ago
Employees get paid what you agree to pay them. This has to be decided up front. Even if they aren't doing a good job, you have to pay them this. You can fire them... so they don't do any further bad work for you, but you have to pay them for the time previously worked.
The employees may be paid:
salary - flat amount per year, divided evenly among the number of pay periods
commission - paid a percentage of the sales.
How do you know they aren't stealing from you:
If you have a retail or similar business - the computer based cash register keeps a tally of what they sold. At the beginning of each shift the employee/manager count the money and at the end you count it again. It should match the amount of sales.
For a company that you are doing larger sales like web design or solar installations etc, the checks / credit cards transaction will be made to the company not the sales person.
How are you paid:
It depends but overall.
Income minus expenses = profit
Part of profit will go back into the business and the other portion in your pocket.
- RangerLv 75 months ago
The profit from a business is the business owners salary.
The business owner buys a product and sells it at a greater price. Deduct the cost of paying someone for doing the work, and the rest is yours to keep. If you are not making a profit (your salary) you are not selling your product for a high enough price.