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  • What is cash-basis accounting? Find out about the simple way to record your business books here.

    What Is Cash-basis Accounting?

    posted by Mike Kappel
    Newest Article
  • What Is Cash-basis Accounting?

    One of your first choices as a business owner is your accounting method. Before making a decision, take some time to compare the cash-basis vs. accrual basis methods of accounting. The way you keep your books affects many aspects of your business, including taxes. One way you can record transactions is with the cash-basis method. What is cash-basis accounting?

    Business Entity Tax Basics: How Business Structure Affects Taxes

    Business structure affects many aspects of your company, including your tax obligations. Choosing the right structure for your business could mean the difference between expensive, time-consuming taxes or affordable, simplified tax liabilities. As a small business owner, you need to know how business structure affects taxes.

    How to Set up Accounting Books for Small Business

    As your new business starts to make transactions, you must keep records. Your financial books are a place for you to review your business’s income and expenses. By keeping your books organized, you can take control of your finances and make smart decisions. You need to know how to set up accounting books for small business.

    What Is Liquidation? | Small Business Liquidation

    As an entrepreneur, you need to have a plan in case you have to close your business. Perhaps your business can’t pay its debts, or maybe you want to retire. Regardless of what happens, you should be aware of one of your options for closing your business: small business liquidation. What is liquidation?

    What Is Accounts Payable?

    As a small business owner, you often buy items for your company. You don’t always pay for the items up front. Instead, a vendor sends you an invoice. If you receive vendor invoices, you need to manage your accounts payable. What is accounts payable?

    What Is Accounts Receivable?

    Do you extend credit to customers at your small business? If so, you need to record these transactions in your accounting books. Depending on the method of accounting you use, you might need to track accounts receivable. What is accounts receivable?

    How to Find Days Payable Outstanding

    Do you know how long it takes you to pay your small business’s invoices? The number of days between receiving an invoice and sending a payment play a big part in your company’s cash flow. You can track how long it takes you to pay bills by calculating the days payable outstanding.

    What Is a Cash Flow Statement?

    Knowing how your business’s finances are going is one part of owning a small business. You should have the three main financial statements at your business: balance sheet, income statement, and cash flow statement. What is a cash flow statement?

    What Is a Balance Sheet?

    Even if you don’t like accounting, understanding your business balance sheet is essential for you to be a successful entrepreneur. You can learn a lot about your business by reviewing your balance sheet. In fact, it can help you make smart decisions for your business. What is a balance sheet?

    How to Calculate Depreciation Expense

    As a small business owner, you need equipment to run your company. Whether it’s a machine or vehicle, costs can add up fast. Did you know you can get major tax breaks for business property expenses? You can lower your tax burden with depreciation. Find out how to calculate depreciation expense for your small business.

    What Is Cash-basis Accounting?

    One of your first choices as a business owner is your accounting method. Before making a decision, take some time to compare the cash-basis vs. accrual basis methods of accounting. The way you keep your books affects many aspects of your business, including taxes. One way you can record transactions is with the cash-basis method. What is cash-basis accounting?

    Business Entity Tax Basics: How Business Structure Affects Taxes

    Business structure affects many aspects of your company, including your tax obligations. Choosing the right structure for your business could mean the difference between expensive, time-consuming taxes or affordable, simplified tax liabilities. As a small business owner, you need to know how business structure affects taxes.

    How to Set up Accounting Books for Small Business

    As your new business starts to make transactions, you must keep records. Your financial books are a place for you to review your business’s income and expenses. By keeping your books organized, you can take control of your finances and make smart decisions. You need to know how to set up accounting books for small business.

    What Is Liquidation? | Small Business Liquidation

    As an entrepreneur, you need to have a plan in case you have to close your business. Perhaps your business can’t pay its debts, or maybe you want to retire. Regardless of what happens, you should be aware of one of your options for closing your business: small business liquidation. What is liquidation?

    What Is Accounts Payable?

    As a small business owner, you often buy items for your company. You don’t always pay for the items up front. Instead, a vendor sends you an invoice. If you receive vendor invoices, you need to manage your accounts payable. What is accounts payable?

    What Is Accounts Receivable?

    Do you extend credit to customers at your small business? If so, you need to record these transactions in your accounting books. Depending on the method of accounting you use, you might need to track accounts receivable. What is accounts receivable?

    How to Find Days Payable Outstanding

    Do you know how long it takes you to pay your small business’s invoices? The number of days between receiving an invoice and sending a payment play a big part in your company’s cash flow. You can track how long it takes you to pay bills by calculating the days payable outstanding.

    What Is a Cash Flow Statement?

    Knowing how your business’s finances are going is one part of owning a small business. You should have the three main financial statements at your business: balance sheet, income statement, and cash flow statement. What is a cash flow statement?

    What Is a Balance Sheet?

    Even if you don’t like accounting, understanding your business balance sheet is essential for you to be a successful entrepreneur. You can learn a lot about your business by reviewing your balance sheet. In fact, it can help you make smart decisions for your business. What is a balance sheet?

    How to Calculate Depreciation Expense

    As a small business owner, you need equipment to run your company. Whether it’s a machine or vehicle, costs can add up fast. Did you know you can get major tax breaks for business property expenses? You can lower your tax burden with depreciation. Find out how to calculate depreciation expense for your small business.