When 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 […]
Read More What Is an Allowance for Doubtful Accounts (Aka Bad Debt Reserve)?Accounting Articles
Accounting Tips, Training, and News
How Tracking Aging of Accounts Receivable Can Help Your Business
August 17, 2026If you offer credit to customers at your small business, you have accounts receivable (AR). Sometimes customers pay on time, while other times they do not. Aging of accounts receivable comes into play when a customer has a past due invoice. Keep reading to learn all about aging of AR and how it can help […]
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What Is Adjusted Gross Income? How to Calculate AGI [With an Example]
August 17, 2026As a small business owner, you have likely heard of the terms gross or net income. But, are you familiar with adjusted gross income? Learn what is adjusted gross income, how to calculate it, and uses for adjusted gross income below.
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What Is Accrual Accounting?
August 17, 2026As a business owner, you have the important task of choosing an accounting method to record transactions. One method you can use is accrual accounting. And depending on your business, you may have to use the accrual accounting method to record incoming and outgoing money. So, what is accrual accounting?
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What Is Accounts Receivable?
August 17, 2026Do you extend credit to customers at your small business? If so, you need to record these transactions in your accounting books. Depending on the method of accounting you use, you might need to track accounts receivable. What is accounts receivable?
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What Is Accounts Payable? The More You Owe
August 17, 2026Do you purchase goods or services for your business? Silly question: Of course you do. And, you might not always pay for the items up front. Instead, a vendor sends an invoice. If you receive invoices, you need to manage your accounts payable. What is accounts payable?
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What Is 501(c)(3) Status?
August 17, 2026If you operate a nonprofit organization, you may be eligible to apply for tax-exempt status, such as 501(c)(3) status. Learn what is 501(c)(3) status, types of 501(c)(3) organizations, and how to apply for 501(c)(3) status.
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What Does An Accountant Do? Behind-the-scenes Business Heroes
August 17, 2026You may know accountants are experts at crunching numbers, and that their knowledge could be useful to your small business. But, you may not be aware of everything an accountant brings to the table. What does an accountant do, exactly?
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Eager to Learn How to Do Your Own Accounting? Start Here
August 17, 2026If you run your own business, you need to have an accurate way to account for your company’s transactions and keep your books up-to-date. One option you have is doing accounting yourself.
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1099 Reporting Threshold Increases from $600 to $2,000 for Tax Year 2026 Under OBBBA
August 14, 2026Beginning with tax year 2026, the One Big Beautiful Bill Act (OBBBA) raises the 1099 reporting threshold to $2,000 and adjusts it for inflation each year going forward.
Read More 1099 Reporting Threshold Increases from $600 to $2,000 for Tax Year 2026 Under OBBBA