Accounting Blog

Accounting Training, Tips, and News

  • options for mobile payments can be less expensive than traditional cash registers

    Comparing Accrual vs. Cash-basis Accounting

    posted by Mike Kappel
    Newest Article
  • Comparing Accrual vs. Cash-basis Accounting

    As a business owner, you have to make important decisions daily. One thing you need to decide when you start your business is an accounting method. Methods you can choose from include cash-basis, modified cash-basis, and accrual accounting.

    The two methods that differ the most are cash-basis and accrual accounting. To help determine which method is best for your business, weigh the pros and cons of accrual vs. cash-basis accounting. And, review accounting laws to ensure you stay compliant.

    When it Comes to Costs and Resources, These Are the Best States to Start a Business

    Ah—location, location, location. Choosing where you’re going to open up shop is one of the first and most important decisions you’ll make when starting a business. But, location isn’t just about picking a building on a popular street corner. It’s also about selecting a state to do business in.

    What Is the Penalty for Late Tax Return?

    Forgetting to submit your tax return can be stressful. And even worse, the IRS can charge you a late filing penalty. Read on to learn about the penalty for late tax return and what you can do to avoid future penalties.

    Know Your Customer: Who Are You Really Doing Business With?

    Take a step back and think about this: How well do you really know your customers? If you’re in a business that involves money, such as a bank or insurance agency, it can pay off to do your due diligence when it comes to your customers.

    The process of knowing your customer and verifying your client’s identity has become a common practice among many small businesses. To avoid taking on risky or sheisty customers, learn how to know your customer.

    What Is a Statutory Nonemployee?

    You’ve heard of employees. You know about independent contractors. And by this point, you may be familiar with what is a statutory employee. But, what about a statutory nonemployee?

    Bookkeeping for Freelancers: Tips for Managing Your Accounting Books

    Fifty-seven million U.S. workers are freelancers, representing a shift toward self-employment. But the freedom of freelancing comes with one big disclaimer: you are responsible for everything, including your accounting books. Bookkeeping for freelancers might seem overwhelming, but it’s doable with the right knowledge and tools.

    Types of Accounts in Accounting That Shouldn’t Fall Off Your Radar

    Keeping accurate books starts with knowing the types of accounts in accounting. Otherwise, you won’t know how to record transactions.

    What Is Return on Assets?

    Over time, your small business acquires items of value. These things that bring value to your business are assets. To see how profitable your assets are, learn how to find return on assets and its impact on your business. So, what is return on assets?

    How to Be Self-employed and Efficiently Manage Your Business’s Books

    Being your own boss sounds ideal. But when you’re self-employed, you may also become your own office manager, bookkeeper, and marketing specialist. To set your business up for success and balance your responsibilities, you need to learn how to be self-employed.

    What Are Assets? Definition, Types, and More

    Over time, your small business gains assets when you purchase items that bring value to your company. These assets are an essential part of your business that can help generate revenue and increase your business’s value. So, what are assets?

    Comparing Accrual vs. Cash-basis Accounting

    As a business owner, you have to make important decisions daily. One thing you need to decide when you start your business is an accounting method. Methods you can choose from include cash-basis, modified cash-basis, and accrual accounting.

    The two methods that differ the most are cash-basis and accrual accounting. To help determine which method is best for your business, weigh the pros and cons of accrual vs. cash-basis accounting. And, review accounting laws to ensure you stay compliant.

    When it Comes to Costs and Resources, These Are the Best States to Start a Business

    Ah—location, location, location. Choosing where you’re going to open up shop is one of the first and most important decisions you’ll make when starting a business. But, location isn’t just about picking a building on a popular street corner. It’s also about selecting a state to do business in.

    What Is the Penalty for Late Tax Return?

    Forgetting to submit your tax return can be stressful. And even worse, the IRS can charge you a late filing penalty. Read on to learn about the penalty for late tax return and what you can do to avoid future penalties.

    Know Your Customer: Who Are You Really Doing Business With?

    Take a step back and think about this: How well do you really know your customers? If you’re in a business that involves money, such as a bank or insurance agency, it can pay off to do your due diligence when it comes to your customers.

    The process of knowing your customer and verifying your client’s identity has become a common practice among many small businesses. To avoid taking on risky or sheisty customers, learn how to know your customer.

    What Is a Statutory Nonemployee?

    You’ve heard of employees. You know about independent contractors. And by this point, you may be familiar with what is a statutory employee. But, what about a statutory nonemployee?

    Bookkeeping for Freelancers: Tips for Managing Your Accounting Books

    Fifty-seven million U.S. workers are freelancers, representing a shift toward self-employment. But the freedom of freelancing comes with one big disclaimer: you are responsible for everything, including your accounting books. Bookkeeping for freelancers might seem overwhelming, but it’s doable with the right knowledge and tools.

    Types of Accounts in Accounting That Shouldn’t Fall Off Your Radar

    Keeping accurate books starts with knowing the types of accounts in accounting. Otherwise, you won’t know how to record transactions.

    What Is Return on Assets?

    Over time, your small business acquires items of value. These things that bring value to your business are assets. To see how profitable your assets are, learn how to find return on assets and its impact on your business. So, what is return on assets?

    How to Be Self-employed and Efficiently Manage Your Business’s Books

    Being your own boss sounds ideal. But when you’re self-employed, you may also become your own office manager, bookkeeper, and marketing specialist. To set your business up for success and balance your responsibilities, you need to learn how to be self-employed.

    What Are Assets? Definition, Types, and More

    Over time, your small business gains assets when you purchase items that bring value to your company. These assets are an essential part of your business that can help generate revenue and increase your business’s value. So, what are assets?