As a business owner, you’ve probably made purchases for your company on credit before. And if you make a lot of purchases on credit, tracking how much you owe each vendor can be overwhelming. The solution? An accounts payable aging report.
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Accounting Tips, Training, and News
Paid FMLA Tax Credit Renewed, Can You Claim It?
May 20, 2021The Family and Medical Leave Act (FMLA) requires certain businesses to offer employees unpaid leave for qualifying situations. But, there’s no federal law that requires you to offer employees paid family and medical leave. If you voluntarily decide to pay employees who use this type of leave, you could be eligible for an FMLA tax […]
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Sell Your Work: What to Say When Sending an Estimate
May 11, 2021Finding new work for your business is exciting. But sending an estimate? That can be a cause for a moment of panic. What to say when sending an estimate is important because you are selling your work and skills to a potential client. Read more about what to say when sending an estimate and how […]
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13 Accounting Periods … What’s the Deal?
May 4, 2021As a business owner, a big part of your job is handling accounting tasks. Part of your accounting responsibilities is looking at accounting periods and analyzing reports and other financial information. Many businesses use monthly accounting periods. However, some companies may opt to take advantage of 13 accounting periods instead. So, what is this 13th […]
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The Math Behind the Accounting Equation
April 29, 2021Accounting is an essential part of running a business. But, that does not mean you have to be an accountant to understand the basics. Part of the basics is looking at how you pay for your assets. Are they financed with debt or paid for with capital? Use the accounting equation to see the difference. […]
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How to Keep Your Direct vs. Indirect Costs Straight
April 27, 2021When you have a business, you have direct and indirect costs. Tracking these expenses is key to having up-to-date books, receiving tax deductions, and making business decisions. So, what’s the difference between direct vs. indirect costs?
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Tax Season Is the Time to Enter a Journal Entry for Income Tax Refund
April 23, 2021Taxes are a big part of running a business, and they can take a toll on your bank account. But sometimes, you can receive an income tax refund for your business. If you do, you need to know how to record a journal entry for income tax refund in your books.
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Business Tax Credits: Your Ultimate Guide to Sustainable Savings
April 15, 2021If you’re like most taxpayers, you look for every possible deduction when filing your tax return for business. One way to lower your tax liability is to claim business tax credits. And due to the coronavirus pandemic, there are also a number of temporary tax credits for employers to claim.
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Cashing in on Crypto: Your Guide to Crypto Payments and Accounting
April 13, 2021The digital world is changing a lot. So, you’re probably wondering how to change with it, especially when it comes to your business. And, that may make you think about the latest buzz in finance: cryptocurrency.
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Increase Efficiency With a Routine Supplier Evaluation
April 8, 2021As a business owner, you likely evaluate your employees’ performance from time to time. But, your employees aren’t the only ones you should be assessing. If you have suppliers you go to for inventory and materials, you need to evaluate their performance, too. To learn more about supplier evaluation and how to evaluate a supplier, […]
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