Are you an accounting wizard? Maybe, maybe not. Regardless, your math needs to add up. And sometimes, even the greatest mathematicians make mistakes. If you make an accounting error, you must find it—before it harms your business. That’s where a trial balance comes in.Read More Check Your Financial Records With a Trial Balance
Accounting Reports Articles
Accounting Reports - Tips, Training, and News
How to Fill Out Form 1120: A Guide for Corporations
According to the Small Business Administration, 81.2% of large employers and 24.8% of small employers are corporations. Structuring your business as a corporation comes with benefits like limited liability and increased access to capital. It also comes with its own unique small business tax return—Form 1120. Do you know how to fill out Form 1120?Read More How to Fill Out Form 1120: A Guide for Corporations
“SOS! Do I Need to Prepare a 1099 for Credit Card Payments I Make to Contractors?”
Paying a contractor to perform work for your business comes with a little disclaimer: reporting said payments on Form 1099-NEC. But what if you pay your contractor using a credit card? Do you have to prepare a 1099 for credit card payments?Read More “SOS! Do I Need to Prepare a 1099 for Credit Card Payments I Make to Contractors?”
What Is Quick Ratio? Learn How to Swiftly Calculate This Metric
Does your business have enough liquid assets to cover short-term liabilities in a pinch? To find out, you can use the quick ratio. Keep reading to learn the quick ratio definition, how to calculate your ratio, and more.Read More What Is Quick Ratio? Learn How to Swiftly Calculate This Metric
How to Use a Comparative Income Statement for Your Small Business
You’re an expert at running your business, not analyzing financial numbers. But as a small business owner, you need to know how your decisions affect your company. By reviewing your accounting books, you can leverage data to grow your company. One important report to look at is the comparative income statement.Read More How to Use a Comparative Income Statement for Your Small Business
What Is Financial Reporting and Analysis in Small Business?
During day-to-day operations, you make transactions for your business. Knowing how to organize and review this information is key to long-term success. One way to keep track of transactions is to manage financial reports. What is financial reporting?Read More What Is Financial Reporting and Analysis in Small Business?
Expense Reporting for Small Business
If you have employees, expense reporting is an important part of your accounting process. Expense reports allow flexibility and make it easier for employees to do their jobs. To save your business time and money, create an expenditure report policy.Read More Expense Reporting for Small Business
What Is the Bottom Line in Business?
Sometimes, when you talk to someone, they take a while getting to the point. You might tap your foot impatiently until you finally blurt out, “Well, what’s the bottom line?” The bottom line in business is just like the bottom line of a conversation.Read More What Is the Bottom Line in Business?
What Is Form 1099-MISC, and Are You Responsible for Distributing It?
If you paid a person that is not an independent contractor during the tax year, you might need to file Form 1099-MISC. So, what is Form 1099-MISC?Read More What Is Form 1099-MISC, and Are You Responsible for Distributing It?
6 Financial Ratios for Small Business Owners to Live By
As a small business owner, you work hard to make your company successful. When problems come up, you face them head-on to push your business forward. Whether you go an inch or a mile, you record all your financial moves in your small business online accounting records.Read More 6 Financial Ratios for Small Business Owners to Live By