Have you heard of a microbusiness? Even if you haven’t heard the term, you probably could list at least five microbusinesses off the top of your head. A microbusiness is a small business with fewer than 10 employees—think your local coffee shop, boutique, or food truck.
Read More How to Start—and Get Funding—for Your Microbusiness
Author:
Rachel Blakely-Gray
As Patriot's Content Manager, Rachel creates engaging and informative content aimed to help business owners understand complex accounting and payroll topics.
How to Create a Profit and Loss Statement
A profit and loss statement is one of the most important tools you have in your business to determine profitability. Do you know how to create a profit and loss statement?
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Should You Get Payroll Insurance?
If you have employees, payroll might be your largest expense. You may consider getting certain types of payroll insurance to protect payroll-related operations and your business bottom line.
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Payroll-to-revenue Ratio: Should 15% – 30% of Revenue Go to Paying Your Team?
Are you spending too much of your company’s hard-earned revenue on payroll expenses? You can use the payroll-to-revenue ratio to find out.
Read More Payroll-to-revenue Ratio: Should 15% – 30% of Revenue Go to Paying Your Team?
Cell Phone Reimbursement: Is it Taxable?
As many as 98% of organizations provide full or partial cell phone reimbursement to employees for their mobile phone expenses.
Read More Cell Phone Reimbursement: Is it Taxable?
Maryland Sick and Safe Leave Law Mandates That Employees Receive Paid Sick Leave
Like several other states, Maryland requires that employers provide sick leave. Maryland sick and safe leave ensures employees receive paid or unpaid time off when they cannot work.
Read More Maryland Sick and Safe Leave Law Mandates That Employees Receive Paid Sick Leave
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 in my state?
Read More The Average Cost of Living by State, and Why Ignoring it Could Sink Your Business
How to Make a Journal Entry for Sales in Your Books
Ten out of 10 businesses sell products or services. And when you make a sale, you need to record the transaction in your accounting books. How comfortable are you with making a journal entry for sales?
Read More How to Make a Journal Entry for Sales in Your Books
Should You Take Out a Payroll Loan If You Can’t Make Payroll?
There might come a time when you don’t have enough money to pay your employees. Cash flow might be slow, or a three-paycheck month may surprise you. To help your business make ends meet, you might consider taking out a payroll loan.
Read More Should You Take Out a Payroll Loan If You Can’t Make Payroll?
Visualize the Way You Pay Your Employees With a Payroll Process Flowchart
According to a 2019 Bank of America study, 68% of small business owners think payroll is their most difficult management task. Do you? If so, an easy-to-digest payroll process flowchart can help you gain confidence in running payroll.
Read More Visualize the Way You Pay Your Employees With a Payroll Process Flowchart