Your business’s financial statements give you a snapshot of the financial health of your company. Without them, you wouldn’t be able to monitor your revenue, project your future finances, or keep your business on track for success. So which financial statement is prepared first?
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Guest Author:
Maria Tanski-Phillips
Maria creates helpful and practical content for Patriot’s marketing department. She began as a Content Writer in 2018.
Religious Accommodations in the Workplace: What Do You Need to Do?
If you’re like most employers, you’re likely required to comply with equal employment opportunity (EEO) responsibilities. One responsibility you have under the EEO is providing religious accommodations in the workplace.
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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.
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8 Simple Steps to Process Payroll
Part of your title as “employer” also includes “payroll processor.” When you hire employees, you have to add them to payroll, withhold the proper taxes, and pay employees. It’s all part of the job. But if you’re new to this employer role, you may not be exactly sure how to process payroll. We’ve written down […]
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What Is a Furlough?
When it comes to business, things don’t always go according to plan. At some point, you may find your company struggling to stay afloat financially. And if that time comes, you may need to furlough some workers to avoid drowning. So, what is furlough?
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What Are the Three Golden Rules of Accounting?
You might have heard of the Golden Rule in life: Treat others as you want to be treated. But, did you know that there’s also a golden rule for accounting? In fact, there are three golden rules of accounting. And no … one of them is not treating your accounts the way you want to […]
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How to Fill Out Form 941 (2025): Step-by-step Instructions to Fill Out Form 941
If you have employees, you likely need to fill out and file Form 941 each quarter. Form 941 is jam-packed with different sections and calculations, which leaves room for errors. Avoid major Form 941 mistakes and learn how to fill out Form 941 line by line here.
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Form 3115: Changing Your Accounting Method
As a business owner, you’re responsible for keeping your business’s books in shipshape. To do that, you need to choose an accounting method and stick with it. But as your small business grows, you might need to change your accounting method. You can do this with Form 3115.
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Throwback Rule: Does Your State Have a Throwout or Throwback Rule for Corporations?
When it comes to company taxation, each state has its own set of laws for businesses. And depending on your type of business structure, you might be subject to different types of laws, such as the throwback rule.
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How to Apply for a Business Loan in 7 Simple Steps
Just starting your entrepreneurial journey? Been in business for over 10 years? Regardless of if you’re a veteran business owner or just starting out, you may need to get a business loan. So, where do you start? Let us walk you through how to apply for a business loan.
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