You need to advertise to promote your business brand, increase customer awareness, and build your reputation. Each time you have an advertising and promotion expense, you need to record it in your small business accounting books.
Read More Advertising and Promotion Expense: Journal Entries and Tax DeductionsAccounting Articles
Accounting Tips, Training, and News
November 4, 2022
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.
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November 3, 2022
Petty Cash: Accounting & Beyond
Thinking about providing petty cash to employees? Before establishing a petty cash fund at your small business, be prepared to create a petty cash accounting system.
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November 3, 2022
Cash-only Businesses: Are They Worth It, How to Run, and More
You know the old saying—money makes the world go ‘round. Today, there are many different payment options to keep the world spinning. But, some businesses prefer to limit customer payments to cash. Do cash-only businesses clog cash flow?
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November 3, 2022
Accounts Payable vs. Accounts Receivable
As a small business owner, setting up your accounting books and maintaining accurate records is essential. To make that happen, you need to be familiar with accounts payable and accounts receivable. Both accounting entries are part of double-entry bookkeeping, but what is the difference between accounts payable vs. accounts receivable?
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November 3, 2022
The 3 Human Capital Metrics Your Small Business Needs to Track
A company is only as good as its employees. Most employers have heard this quote, or some variation of it, which is one reason the scramble to find talent is so important. And when you do hire employees, you want to make sure your business benefits from them.
Read More The 3 Human Capital Metrics Your Small Business Needs to Track
November 3, 2022
Understanding the Disabled Access Credit
As a small business owner, it’s your responsibility to make your company more accommodating for employees, customers, and other individuals with disabilities. And, did you know that qualifying small businesses can claim a tax credit for doing so? Learn about the disabled access credit to find out if you’re eligible.
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November 3, 2022
P&L Management for Small Businesses
Being able to effectively manage your incoming and outgoing money ensures you have a healthy business. To do so, you need accurate financial records. Make necessary changes to your business through P&L management.
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November 3, 2022
Profit vs. Profitability
As a business owner, you need more incoming than outgoing money to keep your company afloat. How much money you have left over after you pay expenses is known as profit. You should measure your business’s profits, which is known as profitability. Understand profit vs. profitability to analyze your company and make financial decisions.
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November 3, 2022
Accounts Payable Process Improvement: 9 Steps to Better Invoice Management
As a small business owner, you have to buy things to run your company. Many vendors and suppliers send invoices when you buy from them. Not managing invoices could lead to late payments, extra fees, and damaged relationships. To better manage business bills, take steps towards accounts payable process improvement.
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