In accounting, you deal with a variety of accounts to balance and organize your books. One type of account you will likely run into is a real account.
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How to Calculate Total Revenue in Accounting [With Examples]
May 8, 2024Keeping an eye on your business’s finances is oh-so-important if you want your company to thrive and grow. This includes monitoring your financial statements and calculating financial figures, such as total revenue. Get the lowdown on how to calculate total revenue and ways to use it to benefit your business.
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Patriot Software Launches 1099 Contractor Portal Feature
May 8, 2024Canton, Ohio Patriot Software, a provider of online accounting and payroll software for American businesses, announced the launch of the 1099 contractor portal to streamline information between clients and their independent contractors.
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How to Calculate a Salary Raise Percentage for Your Employees
May 6, 2024Fewer employers plan to give pay raises in 2024 than in 2023, according to SHRM. Even so, 79% of businesses plan to dole out pay raises. To avoid losing your top employees, you might consider offering pay raises. Learn about criteria for raises, when to give salary raises, and how to calculate a pay raise […]
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How to Manage and Record Cash Receipts in Your Small Business
May 6, 2024If you’re a small business owner, you likely receive cash payments from your customers. And if you receive cash payments, you need to know about recording cash receipts in your books. So, how do you record cash receipts?
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How to Create a Prepaid Expenses Journal Entry
May 6, 2024Do you ever pay for business goods and services before you use them? If so, these types of prepaid expenses require special attention in your books. You need to create a prepaid expenses journal entry.
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Margin vs. Markup: Chart, Infographic, & More
May 6, 2024Business owners often confuse margin and markup. After all, they both deal with sales, help you set prices, and measure productivity. But, there’s a key difference between margin vs. markup, and knowing this difference is how you can set prices that lead to profits.
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Types of Audits: Breaking Down 9 Different Audits
May 6, 2024As a small business owner, you need to conduct regular audits to ensure your records are accurate. Although many business owners dislike the idea of auditing, audits can be beneficial to your company. Learn more about the different types of audit below.
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Partnership Advantages and Disadvantages
May 6, 2024If you’re starting a business and have one or more partners, it might seem obvious to form a business partnership. This is a business structure that allows you and at least one other person to both have ownership of the business. Even though forming a business partnership might make sense, it’s not your only option. […]
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Understand the Difference Between Exempt vs. Nonexempt Employees
May 2, 2024Employees want the wages they deserve. Employers want to avoid penalties and fines. Want the best of both worlds? Understand the difference between exempt vs. nonexempt employees.
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