Like any business, you need up-to-date accounting records if you run a farm, ranch, or related operation. But, some aspects of agricultural accounting, like livestock and land, are specific to farming businesses.
Read More The Ultimate Guide to Agricultural Accounting: Mastering Your Farm’s FinancesPatriot Software's Blog
401(k) vs. Simple IRA: Understanding Retirement Plan Options
September 22, 2022Are you planning to offer your employees a retirement plan for the first time? Or, are you considering switching from a SIMPLE IRA to 401(k)? Whatever the case, you might have questions about the difference between a 401(k) vs. SIMPLE IRA plan. After all, you want to choose the best plan for your business.
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Should You Use an Employee Time Clock?
September 20, 2022Managing employee hours worked comes with the territory of running payroll. Under the Fair Labor Standards Act, you must use a timekeeping method and retain records for your nonexempt employees. Do you know how to track employee hours? One way you can track hours is through an employee time clock.
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What Is Piecework Pay?
September 20, 2022There are various methods to compensate employees, including hourly, salary, and commission pay. But, are you familiar with piecework pay? Learn more about what is piecework, piecework laws to follow, and how to calculate piecework pay.
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How to Handle Salary Reduction for Employees
September 20, 2022Reducing an employee’s salary is not an easy decision to make. Unfortunately, salary reduction might be necessary. If an employee is not succeeding in their position, it may be time for a pay cut.
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Sales Tax Accounting Basics [+ Journal Entry for Sales Tax Examples]
September 20, 2022When you sell goods to customers, you likely collect and remit sales tax to the government. And when you purchase products, you typically pay sales tax. But, how do you record these tax collections and payments in your accounting books? Sales tax accounting.
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What Is IRS Form 1094-C?
September 19, 2022If you’re an employer who’s required to offer health insurance to employees, you may be familiar with Form 1095-C. But, how much do you know about Form 1095-C’s counterpart, IRS Form 1094-C? Get the inside scoop on what is Form 1094-C, how it differs from a 1095-C form, and more.
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Growing by the Numbers: Accounting Firm Growth Strategy
September 16, 2022Any successful accounting firm has a growth strategy in place. You can’t afford not to. But, have you ever wondered if your accounting firm growth strategy is working? It’s always a good time to take your business expansion strategy back to the drawing board. We’ve put together a list of our top six tips for […]
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Is Your Employee Asking for a Raise? Here’s What to Do
September 15, 2022At some point, an employee may ask for a higher salary or hourly wage. Although raise conversations can be uncomfortable for both you and the inquiring employee, you need to know how to handle them. What do you do when an employee is asking for a raise?
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Doffing and Donning Definition
September 15, 2022Employers might require employees to wear uniforms or protective gear depending on the type of business and work environment. To follow federal and state laws, employers must know the regulations of employees putting on and taking off work-related gear and clothing, otherwise known as donning and doffing.
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