In business, you must keep records of your transactions in your books. Your accounting books provide a place for you to review your business’s income and expenses and see where you stand financially. By keeping your books organized and up-to-date, you can take control of your finances and make smart business decisions. But before you […]
Read More How to Set up Accounting Books for Small BusinessAccounting Systems Articles
Accounting Systems - Tips, Training, and News
What Is Accrual Accounting?
As a business owner, you have the important task of choosing an accounting method to record transactions. One method you can use is accrual accounting. And depending on your business, you may have to use the accrual accounting method to record incoming and outgoing money. So, what is accrual accounting?
Read More What Is Accrual Accounting?
Form 3115: Changing Your Accounting Method
As a business owner, you’re responsible for keeping your business’s books in shipshape. To do that, you need to choose an accounting method and stick with it. But as your small business grows, you might need to rethink your accounting method. If you’re looking to shake up your accounting method as your business expands, learn […]
Read More Form 3115: Changing Your Accounting Method
Pros and Cons of Cash-basis Accounting
Choosing your accounting method is the first step in handling your company’s books. If you’re a small business owner, you may prefer the simplicity of cash basis as opposed to accrual or modified cash-basis accounting. But before solidifying your decision, learn the pros and cons of cash-basis accounting.
Read More Pros and Cons of Cash-basis Accounting
