When customers make purchases on credit, you expect them to pay you. If they don’t, it can be frustrating and hurt your business. You need to know how to write off bad debt when this happens.
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Accounting Articles
Accounting Tips, Training, and News
Expense Reporting for Small Business
November 9, 2022If you have employees, expense reporting is an important part of your accounting process. Expense reports allow flexibility and make it easier for employees to do their jobs. To save your business time and money, create an expenditure report policy.
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How to Handle Cash Flow for 3-Paycheck Months
November 9, 2022As a small business owner, you probably have a system for creating a budget. But sometimes, your budget needs to change because of fluctuating income or expenses. For example, you should keep an eye on cash flow for 3-paycheck months.
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How to Organize Your Business Finances: Top 5 Effective Ways
November 9, 2022The lifeblood of any business — large or small — is financial integrity. Efficiently managing your small business accounting can help determine your success. If you don’t know where to start, consider leveraging accounting software. By getting your finances in order, you will save a lot of hours, headaches, and dollars.
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When to File an Amended Tax Return for Small Business
November 9, 2022Did you make an error on a tax return for your small business? Your first time filing taxes for small business can be tricky. You can file an amended tax return to fix mistakes and omissions that date several years back. While there are some advantages to filing an amended tax return, you do not need […]
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What Are Allowable Business Expenses for Your Small Business?
November 9, 2022As a small business owner, you may run on a tight budget. Your business expenses might add up fast between equipment, inventory, overhead, and payroll. Luckily, many of your business expenses are tax-deductible. But, what constitutes an allowable business expense?
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Business Plan Benefits for Your Small Business
November 9, 2022Do you need a business plan for your small business? If you are seeking outside funding, you are required to present a formal proposal. But, the benefits of a business plan go beyond finding lenders.
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Unveiling the Accounting Benefits of Employee Engagement
November 9, 2022You can use employee engagement to create relationships between your business and employees. Employee engagement is when employees are committed to your company and the work that they do. You need to have an active role in making employee engagement possible. The benefits of employee engagement help your company on many levels, including your accounting.
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7 Small Business Tax Deductions – The Do’s and Don’ts
November 9, 2022Small business tax deductions decrease your taxable income. This means more of the money you earn stays in your pocket. You can deduct your business’s expenses throughout the year from your taxable income.
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Create a Customer Bill Payment Policy for Your Small Business
November 9, 2022Do you struggle to collect customer bill payments? If you do not charge your customers the total bill at the point of sale, you need a payment policy to guide your customers through the payment process.
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