Did your business make a donation? Are you thinking about making one? If your business is in the giving spirit and donates to a nonprofit, you need to make a donation expense journal entry. The way you record a donation expense journal entry differs depending on the types of donations you give.
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Guest Author:
Andrew Freiman
Is It Time to Take Your Services Remote? Offering Virtual Bookkeeping 101
August 12, 2022Nowadays, everything seems to happen in the cloud and jobs everywhere are going remote. Well, go ahead and add virtual bookkeeping to that list. With virtual bookkeeping, accountants can work with clients remotely whether they’re in the same state or across the country. Interested in learning more about what it takes to become a virtual […]
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Setting up an Accounting System: Crunching the Numbers
August 11, 2022Software is a popular type of accounting system you can use to streamline your bookkeeping process. Depending on the software you choose, you can save your time and money and focus on running your business. But first, you need to know about accounting software setup. Lucky for you, our guide makes setting up accounting system […]
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Has Your Business Been Hit Hard? 8 Tips on How to Solve Supply Chain Problems
August 4, 2022First it was COVID shutdowns. Then it was the Ever Green wedged in the Suez Canal (remember that?). Now, it’s a national shortage of truck drivers, warehouse space, and shipping containers … and it’s impacting businesses nationwide. The majority of small business owners report that supply chain disruptions have impacted their business. Has it affected yours? […]
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California Payroll Tax: What You Need To Know About the Golden State
August 3, 2022There are a million things you have to manage when running your business. Whether or not you want to admit it, payroll taxes should be one of your top concerns. Payroll taxes generally include Social Security and Medicare. But, many states have additional taxes that employers need to deduct from employee wages. California payroll tax […]
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How to Start a Family-owned Business: Keeping It in the Family:
July 28, 2022It wouldn’t be an understatement to say that family-owned business is synonymous with American business. Eighty-seven percent of American businesses are family owned. You read that right: 87%. That means that family-owned businesses employ a huge portion of the U.S. workforce, 62% to be exact. And to top things off, family-owned businesses make up 64% […]
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Ever Wonder What Is Dropshipping? It Could Be Just What Your Business Needs
July 26, 2022Starting a business comes with obstacles that may seem insurmountable. You have to get a storefront, buy and store inventory, and sell and ship that inventory if needed. But, you don’t have to stick to the old ways of doing business if you don’t want to. With a dropshipping business, you can bypass a lot […]
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Can a Tip Reporting Sheet Simplify Your Life? Yes! Here’s How.
July 25, 2022Do some or all of your staff make a good deal of their income off of tips? Wait staff, bartenders, and taxi drivers depend on tip income. Just like wages, tips have a few tax-related requirements that come with them. If your employees make more than $20 per month in tips, you may wonder how […]
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Charitable Donation Deduction: What to Do After Giving to Your Favorite Charity
July 21, 2022One of the great things about running a business in America is that your business can make tax-deductible donations to your favorite charities. Seventy-six percent of American businesses donate 6% of their profits on average. And, 85% of consumers have a more positive view of companies that donate. If donations are already at the heart […]
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The Gift That Keeps on Giving: How to Track Donations You Receive
July 14, 2022If you run a nonprofit, you already know that donations and grants are your bread and butter. You also know just how complicated tracking donations can be. Nonprofit organizations are required to know how to track charitable donations they receive and supply donors with the proper documentation for the donations they’ve made. Read on to […]
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