To keep business operations running smoothly, you need incoming money. When you make a sale or earn money from another activity, you need to record it. Learn how to record the types of revenue in different accounts. That way, you can keep your accounting books updated, organized, and legal.
Read More What Are the Types of Revenue Small Business Owners Need to Know?Patriot Software's Blog
Form 1099-NEC vs. W-2 Differences: Which Should You Use?
April 4, 2024After the end of every year, you need to report your workers’ wages. You must send a form to the worker and governments. But, which IRS form do you send? The form you use (Form 1099 vs. W-2) depends on if the worker was a contractor or an employee.
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Payroll Data Security: Defending Against Payroll Data Breaches
April 2, 2024Data breaches and cyberattacks happen every day. Payroll contains sensitive employee information such as Social Security numbers and bank account details, making it a goldmine for cybercriminals. And because 43% of all data breaches target small businesses, payroll data security should be top of mind.
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Starting a Business With Poor Credit History
March 27, 2024A great idea comes with great responsibility, or money. Any good businessman knows that starting a business requires more than just grit and effort. For a business idea to come to life, significant costs are incurred whether you like it or not. From your administrative operations to production costs, starting a business is like bleeding […]
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Your Go-to Small Business Tax Deductions Checklist
March 21, 2024Business expenses add up, fast. Fortunately, there are extensive tax deductions available for small business owners to offset the cost of running a business. Unfortunately, tax deductions can be complicated and confusing.
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Your Guide to Accounting Software for Sole Proprietors
March 20, 2024Being a sole proprietor is a rewarding, but challenging, journey. Many sole proprietors view managing finances as one of the most challenging tasks. But thanks to accounting software for sole proprietors, financial management (and analysis) has gotten faster and easier.
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How Is Machine Learning Used in Accounting?
March 13, 2024Machine learning (ML), a branch of artificial intelligence (AI), is everywhere. It has transformed online shopping (“users also bought…”) and TV streaming (“because you watched…”). Machine learning has also revolutionized the field of accounting.
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15 Funny Accounting Jokes & Quotes to Get Through Tax Time With a Smile
March 1, 2024Busy season for accountants can be a stressful time. You work long hours, sometimes around 100 hours a week, and crunch endless numbers during tax season. Who says you can’t find some humor amidst the piles of paperwork?
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What Is Certified Payroll? What to Know If You Land a Federal Contract
February 29, 2024Step 1: Land the contract for a federal government-funded job. Step 2: Comply with your certified payroll reporting requirements. What is certified payroll?
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Webinar Video: Leveraging 401(k) Benefits for Business: What You Need to Know in 2024
February 29, 2024Watch Patriot Software & Vestwell’s free webinar to learn about the key tax benefits available to businesses that set up a 401(k) plan, what changes to know in 2024, and how to choose the right plan.
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