BIG NEWS: On March 21, 2025, FinCEN announced that all domestic reporting companies, businesses created in the United States, are exempt from the requirement to report beneficial ownership information (BOI) to FinCEN.
Read More BOI Reporting No Longer Required for Businesses Created in U.S.Patriot Software's Blog
How to Calculate Weighted Average (and Why It Matters in Business)
March 19, 2025From inventory valuation to sales forecasting, there are plenty of times you may need to calculate a weighted average in your business. And you don’t have to be a mathematician to find it. Learning how to calculate weighted average is a relatively easy process.
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What Is a Furlough?
March 17, 2025When it comes to business, things don’t always go according to plan. At some point, you may find your company struggling to stay afloat financially. And if that time comes, you may need to furlough some workers to avoid drowning. So, what is furlough?
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1095-C Form Obligations: Do Employers Have to File Form 1095-C?
March 17, 2025Do employers have to offer health insurance? Sometimes. And if you are required to offer health insurance, you need to send a 1095-C form to all full-time employees.
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How to Calculate Sales Tax to Meet Your Small Business Requirements
March 13, 2025For many businesses, collecting sales tax is a mandatory part of selling goods and providing services. After collecting sales tax from customers, you are responsible for remitting the tax to your state or local government. But before you start collecting, you need to know how to calculate sales tax.
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New Mexico Sick Leave Law: Know About the Healthy Workplaces Act
March 11, 2025What happens when your employee gets sick? If you’re a New Mexico employer, you need to know about the Healthy Workplaces Act. Saddle up to make sure you are in compliance with this New Mexico sick leave law.
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How to Calculate Local Income Tax: Guide for Employers
March 10, 2025As an employer, you’re responsible for withholding certain taxes from employees’ wages. One of the taxes you may need to withhold is local income tax. Read on to get the scoop on this tax, and learn how to calculate local income tax.
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Types of Accounts in Accounting to Memorize
March 7, 2025You’ve heard about debits and credits. You know they increase and decrease certain accounts. But, how much do you know about the accounts they affect? There are five types of accounts in accounting.
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Transposition Error, the Little Mistake That Causes Big Problems
March 6, 2025Mistakes happen, especially when it comes to recording transactions in your books. One type of accounting mistake that’s easy to make is a transposition error. Read on to learn what is a transposition error and how it can affect your accounting books.
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What Is a Purchase Order, and When Would You Need to Create One?
March 6, 2025As a seller, you prepare invoices requesting payment from customers who make purchases on credit. And as a buyer, you may also need to create some documents, like a purchase order (PO). What is a purchase order?
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