You don’t know what you don’t know. This phrase couldn’t be more true, especially when it comes to taking up your business’s accounting. After all, it’s a technical and complex subject. And when it comes to your responsibilities, you probably have a million accounting questions,even if you don’t know exactly what they are.
Read More Top 18 Accounting Questions You Didn’t Know You Had [Answered]Accounting Articles
Accounting Tips, Training, and News
For Simple Bookkeeping, Consider Going With the Cash Method
May 26, 2022Forty percent of small business owners agree that bookkeeping (the process of recording transactions) and taxes are the worst part of the job. Although it might be taxing (no pun intended!), bookkeeping is a key part of business. But, that doesn’t mean you have to make things unnecessarily difficult. For simple bookkeeping, you may consider […]
Read More For Simple Bookkeeping, Consider Going With the Cash Method
Accounts Receivable Process: Your Step-by-step Guide
May 17, 2022When you extend credit to customers, you deal with something called accounts receivable. To ensure your company gets paid and your books are all up-to-date, you need to have a solid accounts receivable process in place. Here’s your step-by-step guide on accounts receivable processes and procedures to live by.
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What Is a Nominal Account? [Definition + Examples]
May 5, 2022Accounting deals with many different types of accounts. One account you may stumble across in your accounting journey for your business is a nominal account. But, what are nominal accounts?
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Offering a Retirement Plan Could Score You 401(k) Tax Credits
April 28, 2022Thinking about offering your employees a 401(k) plan? Already offer a retirement plan to your team? Either way, you’ll want all of the juicy details about the 401(k) tax credits for employers. Get the scoop on the 401(k) tax credit and how you can use it to lower your tax liability.
Read More Offering a Retirement Plan Could Score You 401(k) Tax Credits
Revolutionizing Bookkeeping: The Role of AI in Accounting
April 26, 2022AI (artificial intelligence) has been a game-changer for everything from speech recognition to language translation and … accounting? Yes, AI in accounting continues to transform the process of bookkeeping. How so?
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Have a Business Interest Expense? You May Be Able to Deduct It
April 21, 2022Take out a business loan or have a mortgage for your brick-and-mortar? You may cringe when you see your business interest expense add up. But here’s a bit of good news, there’s a business interest expense deduction you may be eligible to claim (hooray!).
Read More Have a Business Interest Expense? You May Be Able to Deduct It
Business vs. Hobby: Which Is It?
April 14, 2022You’ve decided to start a business. Er … is it a hobby? How do you know if you’re making a little side money from a hobby or running a full-fledged business? Does it matter? Well, the IRS cares about whether you have a business vs. hobby, so you should, too.
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A Comprehensive Bookkeeping Clean-Up Checklist: Master Your Books
April 7, 2022Spring cleaning is a staple in households for a reason. Over time, things get pretty messy, especially when you’re busy. And in business, the same thing can happen to your accounting books. Do your books need tidying up? Use our bookkeeping clean-up checklist to get started.
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12-Month Rule for Prepaid Expenses: What to Know
April 5, 2022If you want to take advantage of business deductions before the end of the year, you may decide to prepay some of your expenses. But, hold up! Before you do that, you need to learn about the 12-month rule for prepaid expenses.
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