Accounting Blog

Accounting Training, Tips, and News

  • what is an owner’s draw

    What Is an Owner’s Draw in Accounting?

    posted by Maria Tanski
    Newest Article
  • Use a general ledger to keep your small business's financial transactions organized.

    How’s Your Small Business General Ledger Lookin’?

    posted by Mike Kappel
    Recent Article
  • What Is an Owner’s Draw in Accounting?

    As a business owner, you likely pay wages to employees. But when it comes to paying yourself, what do you do?

    Depending on your type of business structure, you might be able to pay yourself an owner’s draw. But, what is an owner’s draw?

    How’s Your Small Business General Ledger Lookin’?

    Your business’s general ledger plays a significant role in forecasting the financial health of your company. But if you’re slacking on your general ledger entries, your business could suffer the consequences.

    So… how’s your small business general ledger lookin’? Does it need a little love? If so, read on to learn all about the general ledger, including what it is, the types of accounts in a ledger, and more.

    Managing and Recording Cash Receipts in Your Small Business

    If you’re a small business owner, you likely receive cash payments from your customers. And if you receive cash payments, you need to know about recording cash receipts in your books. So, how do you do that?

    To ensure your books are accurate, you need to understand cash receipts accounting. Read on to get the inside scoop about managing and recording cash receipts in your small business.

    How Familiar Are You With the Different Types of Liabilities in Accounting?

    As a business owner, incurring debts is inevitable. In fact, the average small business owner has $195,000 of debt.

    Chances are, you have some kind of debt at your business. And if you have debt, you have liabilities. Read on to learn all about the different types of liabilities in accounting.

    Resale Certificate, the Get Out of Tax Free Card

    Almost everybody in the majority of states pays sales taxes at the time of purchase. And yes, this includes business owners shopping for their ventures. But if you purchase and resell goods to your customers, you may consider applying for a resale certificate.

    How to Balance Your Cash Drawer Like a Boss

    Balancing your cash drawer is an essential part of your business’s daily routine. Just like brushing your teeth, you should also be balancing your cash register drawer daily.

    If you’re struggling to balance your cash drawer, you’re not alone. Read on to learn how to balance your cash drawer as well as tips and tricks to keep your drawer in shipshape.

    7 Tips for Working With Independent Contractors

    According to a recent study, one out of every 10 workers is an independent contractor. With so many contractors making up the workforce, you’re bound to work with or hire one at some point.

    Hiring contractors can be beneficial to your business. But if you’re going to be working with independent contractors, you need to know how to do business with them.

    The Average Cost of Living by State, and Why Ignoring it Could Sink Your Business

    You hear about it all the time in the news—Cost of living rising! Maybe you think about it on a daily basis—Do I earn enough to cover my standard of living?

    What Is Double Taxation, and How Does it Impact Your Small Business?

    Corporations have different rules and responsibilities than other business structures. And if you own a corporation or are a shareholder of one, you should know what double taxation is.

    Unlike other types of business structures, corporations are subject to double taxes. Read on to get the answer to what is double taxation and quiz yourself on double taxation information.

    Starting up a Business? Here’s the Best State to Start an LLC

    When you start a business, you are responsible for choosing a business structure. One structure you can select is a limited liability company, or LLC.

    Unlike some other business structures, you can form an LLC in any state, regardless of your physical business presence. With so many states to choose from, it can be difficult to determine where to establish an LLC.

    So, what’s the best state to start an LLC?

    What Is an Owner’s Draw in Accounting?

    As a business owner, you likely pay wages to employees. But when it comes to paying yourself, what do you do?

    Depending on your type of business structure, you might be able to pay yourself an owner’s draw. But, what is an owner’s draw?

    How’s Your Small Business General Ledger Lookin’?

    Your business’s general ledger plays a significant role in forecasting the financial health of your company. But if you’re slacking on your general ledger entries, your business could suffer the consequences.

    So… how’s your small business general ledger lookin’? Does it need a little love? If so, read on to learn all about the general ledger, including what it is, the types of accounts in a ledger, and more.

    Managing and Recording Cash Receipts in Your Small Business

    If you’re a small business owner, you likely receive cash payments from your customers. And if you receive cash payments, you need to know about recording cash receipts in your books. So, how do you do that?

    To ensure your books are accurate, you need to understand cash receipts accounting. Read on to get the inside scoop about managing and recording cash receipts in your small business.

    How Familiar Are You With the Different Types of Liabilities in Accounting?

    As a business owner, incurring debts is inevitable. In fact, the average small business owner has $195,000 of debt.

    Chances are, you have some kind of debt at your business. And if you have debt, you have liabilities. Read on to learn all about the different types of liabilities in accounting.

    Resale Certificate, the Get Out of Tax Free Card

    Almost everybody in the majority of states pays sales taxes at the time of purchase. And yes, this includes business owners shopping for their ventures. But if you purchase and resell goods to your customers, you may consider applying for a resale certificate.

    How to Balance Your Cash Drawer Like a Boss

    Balancing your cash drawer is an essential part of your business’s daily routine. Just like brushing your teeth, you should also be balancing your cash register drawer daily.

    If you’re struggling to balance your cash drawer, you’re not alone. Read on to learn how to balance your cash drawer as well as tips and tricks to keep your drawer in shipshape.

    7 Tips for Working With Independent Contractors

    According to a recent study, one out of every 10 workers is an independent contractor. With so many contractors making up the workforce, you’re bound to work with or hire one at some point.

    Hiring contractors can be beneficial to your business. But if you’re going to be working with independent contractors, you need to know how to do business with them.

    The Average Cost of Living by State, and Why Ignoring it Could Sink Your Business

    You hear about it all the time in the news—Cost of living rising! Maybe you think about it on a daily basis—Do I earn enough to cover my standard of living?

    What Is Double Taxation, and How Does it Impact Your Small Business?

    Corporations have different rules and responsibilities than other business structures. And if you own a corporation or are a shareholder of one, you should know what double taxation is.

    Unlike other types of business structures, corporations are subject to double taxes. Read on to get the answer to what is double taxation and quiz yourself on double taxation information.

    Starting up a Business? Here’s the Best State to Start an LLC

    When you start a business, you are responsible for choosing a business structure. One structure you can select is a limited liability company, or LLC.

    Unlike some other business structures, you can form an LLC in any state, regardless of your physical business presence. With so many states to choose from, it can be difficult to determine where to establish an LLC.

    So, what’s the best state to start an LLC?

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