If you’ve taken out a business loan or line of credit, you’re aware that interest accrues on the borrowed amount. But, do you know how to record accrued interest in your books?
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Accounting Articles
Accounting Tips, Training, and News
Rising to the Occasion: How to Master Your Entrepreneur Elevator Pitch
May 19, 2020Quick: Tell me what your business does in under a minute and a half. Can you do it? Probably not, for one of two reasons. First, we can’t hear you. And second, you may not have nailed down your entrepreneur elevator pitch yet.
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Getting Started With Simple Journal Entries
April 30, 2020Let’s face it: accounting is confusing. There are so many rules to follow and calculations to do. But, it’s one of those things you have to do for the sake of your business. So instead of diving straight into the complicated stuff, start slowly with simple journal entries.
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PPP Loan Accounting: Creating Journal Entries
April 28, 2020Businesses could apply for a Paycheck Protection Program loan through May 31, 2021. As of June 1, 2021, the SBA is no longer accepting PPP loan applications. Congratulations on receiving a Paycheck Protection Program forgivable loan! But if you want to receive loan forgiveness, you need to use it for eligible expenses and keep detailed […]
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What in the World Is Form 1065-X?
April 23, 2020As a business owner, you probably made a few mistakes when you started your venture. And, you probably haven’t seen the last of them. Mistakes happen, especially when you’re responsible for things like filling out accounting forms. If you made a mistake on Form 1065, 1065-B, or 1066, you can correct errors using Form 1065-X. […]
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7 Bookkeeping Tips for Small Businesses
April 10, 2020As a business owner, you’re responsible for staying on top of your business’s books. If you have up-to-date and accurate accounting records, your company will be on the road to success. But if you fail to focus on your accounting tasks, your business can quickly sink before it has the chance to grow. To help […]
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Do You Need a Business Operating Agreement?
April 2, 2020When you start a business, you’re in charge of juggling multiple tasks simultaneously. And if you establish a limited liability company (LLC), you may need to create a business operating agreement for your company. To familiarize yourself with all things operating agreements, keep reading.
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B Corp Certification: Your Complete Q&A
March 31, 2020Many businesses may want to help build a better economy, society, and environment, but some make it a priority. If you own a business that prioritizes the common good, consider applying for B Corp certification.
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What Is a Certificate of Good Standing?
March 19, 2020Is your business in good standing with your state? Unless you have a certificate of good standing, you might not know the answer. And now, you might be wondering what is a certificate of good standing.
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Calling All Corporations! What Is Form 1120?
March 12, 2020As a business owner, you have so many responsibilities, yet so little time. You need to handle your business’s books, manage day-to-day business operations, and keep your business on track for success. In addition to your countless other tasks, you need to file a small business tax return.
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