Agency finance, in plain English.

The money you owe others but haven't paid yet, like bills and freelancer invoices.

The money clients owe you but haven't paid yet.

Cash accounting records money when it moves. Accrual records it when it's earned or owed, even before it moves.

A snapshot of what you own and what you owe at a moment in time.

Paying straight from one bank account to another, with no card in the middle. PayNow is a fast way to do this in Singapore.

A request for payment someone sends to you, like a software subscription or a freelancer's invoice.

The amount you need to earn to cover all your costs, with nothing left over and nothing lost.

The money moving in and out of your business over time. Different from profit, which is on paper.

The list of categories your money is sorted into, like income, rent, or software.

A holding spot for money that's on its way somewhere, before it lands in its final place.

How much you actually keep from a client after all the costs of serving them.

What's left from a sale after the direct costs of doing the work, like freelancers and ad spend.

Goods and Services Tax, a tax you add to what you sell and pass on to the government.

A request for payment you send a client. It lists the work and the amount owed.

InvoiceNow is Singapore's way of sending invoices straight between systems through a shared network called Peppol.

An amount you add on top of a cost when you bill it to a client.

Handling money in more than one currency, like dollars, euros, and your home currency.

What's left after all your costs, including overheads. Your true bottom line.

A cost you pay on a client's behalf and bill straight back to them, like ad spend. It isn't really your income.

Paying your team, and the CPF contributions that go with it in Singapore.

A report showing what you earned and what you spent over a period, and what was left.

The gain or loss you get when currency rates move. It's realised once the money actually lands, and unrealised while you're still waiting.

Matching the money in your bank to the invoices and bills in your books, so everything lines up.

A regular, ongoing fee a client pays you, often monthly, for continued work.

Work you've started but not yet billed or finished.