As a small business owner, you may find yourself struggling to keep up with your business’s books. As soon as you know it, another month has passed and you’ve fallen behind recording transactions.
Read More Month-end Closing Procedure and Checklist: Keep Your Books ShipshapeRecordkeeping Articles
Recordkeeping - Tips, Training, and News
The Ultimate Guide to Agricultural Accounting: Mastering Your Farm’s Finances
Like any business, you need up-to-date accounting records if you run a farm, ranch, or related operation. But, some aspects of agricultural accounting—like livestock and land—are specific to farming businesses.
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Charitable Donation Deduction: What to Do After Giving to Your Favorite Charity
One of the great things about running a business in America is that your business can make tax-deductible donations to your favorite charities. Seventy-six percent of American businesses donate 6% of their profits on average. And, 85% of consumers have a more positive view of companies that donate. If donations are already at the heart […]
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The Gift That Keeps on Giving: How to Track Donations You Receive
If you run a nonprofit, you already know that donations and grants are your bread and butter. You also know just how complicated tracking donations can be. Nonprofit organizations are required to know how to track charitable donations they receive and supply donors with the proper documentation for the donations they’ve made. Read on to […]
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How Long to Keep Tax Returns for Your Business
As a business owner, there are many documents you need to keep track of for your company. Employee paperwork, bills, invoices, etc., are all essential documents to store in your records. Keeping records isn’t just a good business practice, either. There are specific IRS recordkeeping requirements you must follow. One of those requirements is maintaining […]
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What Is a Fiscal Year for Your Business and Books?
When it comes to pulling reports, establishing a business budget, and filing taxes, you need to know your company’s fiscal year. So, what does a fiscal year mean, exactly? When does the fiscal year start? And, how long is a fiscal year? Read on to get the answers to these questions and more.
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What Is a Fiscal Quarter?
Your business’s fiscal quarter plays a role when it comes to things like taxes and finances. But, what is a fiscal quarter? Learn all about fiscal quarters and how to use them in accounting and business.
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Why Is Bookkeeping Important for Small Business?
Small business owners have a lot on their plates. That’s why it can be a little scary to realize that bookkeeping is yet another task you have to complete to keep your business running. After all, why can’t you skip it altogether and pass it on to an accountant? Well, there are a few reasons […]
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Your Guide to GAAP (Generally Accepted Accounting Principles)
When it comes to accounting, you must follow certain rules for recordkeeping or tax reporting. Otherwise, you may wind up making mistakes and costing your company money—and nobody wants that. Many businesses must follow a set of accounting guidelines called GAAP. But, what is GAAP exactly? And, how do you know if you have to […]
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6 Business Records to Track as an Entrepreneur
As a business owner, there are a lot of things to pay attention to when running your company. Payroll, hiring, bookkeeping … the list goes on and on. And, that list includes monitoring all of your business records. So, what are the most important business records to track?
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