Accounting Blog

Accounting Training, Tips, and News

  • man giving thumbs up after making a compound journal entry

    Step up Your Accounting Game With a Compound Journal Entry

    posted by Rachel Blakely-Gray
    Newest Article
  • Use our infographic to understand how to use the margin vs. markup chart for your business.

    Markup vs. Margin Chart: How to Calculate Margin and Markup

    posted by Amanda Cameron
    Recent Article
  • Step up Your Accounting Game With a Compound Journal Entry

    If you use a double-entry bookkeeping system, you know that every account you debit requires you to credit the corresponding account, and vice versa. But what happens when the transaction affects more than two accounts? It’s time to create a compound journal entry.

    Markup vs. Margin Chart: How to Calculate Margin and Markup

    Business owners often confuse margin and markup. Both figures help you set prices and measure productivity. But, a margin vs. markup chart shows that the two terms reflect profit differently.

    What Is a Cash Reserve?

    According to a recent study, 60% of Americans don’t have enough money to cover an unexpected $1,000 expense. What about your business? Do you have enough money tucked away to deal with a sudden expense? If not, you need to give your cash reserve some love.

    The Ultimate Year-end Closing Checklist for Accounting

    The end of the year is a busy time for entrepreneurs and employers. If you’re like most business owners, you’re probably juggling year-end accounting procedures in addition to heavier traffic and sales.

    Instead of scrambling (or forgetting) to get your year-end accounting processes done, use a year-end closing checklist to organize the way you wrap up the year.

    7 Precautions for Accepting Checks: Spotting Counterfeit Checks & Verifying Funds

    Accepting check payments from customers may increase your chances of making a sale, but it comes at a price. If you receive counterfeit checks or checks from people with insufficient funds, you may have to deal with bank fees, wasted time, and lost money. To avoid these bad check nightmares, follow some standard precautions for accepting checks.

    What Is a Point of Sale System, and How Can It Improve Your Day-to-day Operations?

    According to one source, 56% of single-store retailers don’t have a point of sale system in place. Does your business fall into the 56%? If so, your small company could be missing out on a smoother system and in-depth sales reports.

    If you want to grow your business, efficiently track sales, and streamline your day-to-day operations, consider investing in a point of sale system. So, what is a point of sale system?

    Do You Know How Temporary vs. Permanent Accounts Differ?

    As a business owner, you are likely familiar with certain accounting accounts, like your assets or expense accounts. But did you know that each account can also be labeled as a permanent or temporary account?

    Read on to learn the difference between temporary vs. permanent accounts, examples of each, and how they impact your small business.

    Recording Credit Card Sales in Your Books

    Do you accept credit card payments in your small business? If you do, that’s great news for the 80% of consumers who prefer playing with plastic. But, it comes with additional business responsibilities, such as recording credit card sales in your books.

    Strategies and Formulas for Pricing Services at Your Small Business

    Do you own a service business? If so, you know that figuring out how to price services isn’t always easy. To make sure your small business is profitable, try these tips for pricing services. 

    License to Sell: Your Guide to Applying for a Sales Tax Permit

    Many businesses need to collect sales tax from customers. But before you can start collecting it, you must obtain a sales tax permit with the state. Find out how to apply for a seller’s permit by state to keep things legal. 

    Step up Your Accounting Game With a Compound Journal Entry

    If you use a double-entry bookkeeping system, you know that every account you debit requires you to credit the corresponding account, and vice versa. But what happens when the transaction affects more than two accounts? It’s time to create a compound journal entry.

    Markup vs. Margin Chart: How to Calculate Margin and Markup

    Business owners often confuse margin and markup. Both figures help you set prices and measure productivity. But, a margin vs. markup chart shows that the two terms reflect profit differently.

    What Is a Cash Reserve?

    According to a recent study, 60% of Americans don’t have enough money to cover an unexpected $1,000 expense. What about your business? Do you have enough money tucked away to deal with a sudden expense? If not, you need to give your cash reserve some love.

    The Ultimate Year-end Closing Checklist for Accounting

    The end of the year is a busy time for entrepreneurs and employers. If you’re like most business owners, you’re probably juggling year-end accounting procedures in addition to heavier traffic and sales.

    Instead of scrambling (or forgetting) to get your year-end accounting processes done, use a year-end closing checklist to organize the way you wrap up the year.

    7 Precautions for Accepting Checks: Spotting Counterfeit Checks & Verifying Funds

    Accepting check payments from customers may increase your chances of making a sale, but it comes at a price. If you receive counterfeit checks or checks from people with insufficient funds, you may have to deal with bank fees, wasted time, and lost money. To avoid these bad check nightmares, follow some standard precautions for accepting checks.

    What Is a Point of Sale System, and How Can It Improve Your Day-to-day Operations?

    According to one source, 56% of single-store retailers don’t have a point of sale system in place. Does your business fall into the 56%? If so, your small company could be missing out on a smoother system and in-depth sales reports.

    If you want to grow your business, efficiently track sales, and streamline your day-to-day operations, consider investing in a point of sale system. So, what is a point of sale system?

    Do You Know How Temporary vs. Permanent Accounts Differ?

    As a business owner, you are likely familiar with certain accounting accounts, like your assets or expense accounts. But did you know that each account can also be labeled as a permanent or temporary account?

    Read on to learn the difference between temporary vs. permanent accounts, examples of each, and how they impact your small business.

    Recording Credit Card Sales in Your Books

    Do you accept credit card payments in your small business? If you do, that’s great news for the 80% of consumers who prefer playing with plastic. But, it comes with additional business responsibilities, such as recording credit card sales in your books.

    Strategies and Formulas for Pricing Services at Your Small Business

    Do you own a service business? If so, you know that figuring out how to price services isn’t always easy. To make sure your small business is profitable, try these tips for pricing services. 

    License to Sell: Your Guide to Applying for a Sales Tax Permit

    Many businesses need to collect sales tax from customers. But before you can start collecting it, you must obtain a sales tax permit with the state. Find out how to apply for a seller’s permit by state to keep things legal. 

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