Worried that your company is going under? If you’re struggling with large amounts of business debts, it might be time to consider your small business bankruptcy options.
Read More Making Heads and Tails of Small Business Bankruptcy
Author:
Mike Kappel
Mike Kappel, serial entrepreneur and CEO of Patriot Software, offers payroll advice from more than 30 years of experience to small business owners.
How to Use Business Bank Statements [+ Example]
August 17, 2026If you have a business bank account, you should regularly receive a paper or electronic statement. These business bank statements provide valuable information for managing your business finances.
Read More How to Use Business Bank Statements [+ Example]
What Is a Balance Sheet?
August 17, 2026When it comes to running a business, you can’t ignore your finances. To help you keep your finances in order and organized, you can look at financial statements, like your balance sheet. But, what is a balance sheet exactly? Let us give you the rundown on the balance sheet definition, the components of the financial […]
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Grasping Bad Debt: Insights Into Its Impact and Management Strategies
August 17, 2026Extending credit to customers is a great way to encourage impromptu purchases, boost sales, and increase profits. But sometimes, customers don’t pay you, resulting in a bad debt. What is bad debt?
Read More Grasping Bad Debt: Insights Into Its Impact and Management Strategies
Back it Up … What Is Backup Withholding, and Are My Contractors Subject to it?
August 17, 2026When you pay an independent contractor, you don’t withhold taxes from their wages … or do you? In some cases, contractor wages are subject to backup withholding. So, what is backup withholding, and when do you need to do it?
Read More Back it Up … What Is Backup Withholding, and Are My Contractors Subject to it?
What Is an Audit?
August 17, 2026Audit. Do you panic when you hear that five-letter word? You might think an audit is the last thing your business needs, but they aren’t always bad. Regular audits can be more like a routine maintenance check than an invitation for IRS penalties. Learn what an audit is, what types of audits there are, how […]
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Assets Definition, Types of Assets, and More
August 17, 2026Over 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?
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What Are Articles of Incorporation?
August 17, 2026There are different requirements to set up all the types of business structures. If you want to structure your business as any type of corporation, you need to create and file articles of incorporation.
Read More What Are Articles of Incorporation?
What Is an Allowance for Doubtful Accounts (Aka Bad Debt Reserve)?
August 17, 2026When it comes to your small business, you don’t want to be in the dark. Your accounting books should reflect how much money you have at your business. If you use double-entry accounting, you also record the amount of money customers owe you. But, what happens if they don’t pay? To protect your business, you […]
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What Is an ACH Payment? How Can You Use It for Payroll?
August 17, 2026You might already be familiar with ACH payments, but you might not know it because of the unfamiliar terms. Find out what ACH means and how you can use the payments with your payroll.
Read More What Is an ACH Payment? How Can You Use It for Payroll?