Find Strength In Your Numbers This Tax Season
December 7, 2021The simplest option—and what most business owners choose—is the cash method. That means money gets recorded as you receive and pay it.... Read more
Accounting And Finance For Business
December 7, 2021For example, a freelancer would not need the same features in accounting software as a restaurant owner. Off-balance sheet financing is strictly regulated, and generally accepted accounting principles govern its use. This type of financing is not app... Read more
As A Nonprofit, Heres Why You Should Love The Functional Expense Statement
December 7, 2021No one ratio or financial statement can tell the full story of a nonprofit business model. FASB makes clear that its model disclosures and statement mock-ups are meant to provide guidance and should not be seen as the only proper way. Read more
How Small Businesses Can Prepare For Tax Season 2021
December 7, 2021If these rules are violated, there are dramatic consequences, including the acceleration of taxation to recipients, plus the payment of interest and penalties. Planes, trains, and automobiles are all work travel costs that can be written off. Whether... Read more
Best Invoice Management Software To Streamline Ap Process
December 7, 2021Retail operations live on cash and credit payments, while services-based businesses and freelancers have particular needs and can work with online payment solutions. For small to midsize businesses , the ability to articulate the services rendered as... Read more
A Small Business Guide To Payroll Management
December 7, 2021So, when you have a small business, you need to manage your payroll more efficiently. Build in important quarterly tax dates, holidays and annual tax filing dates. Keep in mind that you'll have to do this at the start of every. Read more
4 Inventory Valuation Methods Used By Ecommerce Businesses
December 6, 2021The LIFO (last-in, first-out) method of inventory costing assumes that the costs of the most recent purchases are the first costs charged to cost of goods sold when the company actually sells the goods. The specific identification method is a system. Read more
A Beginner’s Guide To Business Expense Categories
December 6, 2021Because the general ledger account is a chronological listing of every transaction, it would be very difficult to find how much a particular customer owes at any given moment. Modified cash-basis and accrual accounting use the same accounts, which ar... Read more
The Next Child Tax Credit Payment Pays Out Aug 13
December 6, 2021The latest monthly child tax credit payment will be delivered on Aug. 13. IRS letters already went out (Letter 6416 or Letter 6416-A) notifying taxpayers they may be eligible.If you're normally not required to file taxes -- someone the IRS calls. Read more
Amortization Business
December 6, 2021In business, accountants define amortization as a process that systematically reduces the value of an intangible asset over its useful life. It’s an example of the matching principle, one of the basic tenets of Generally Accepted Accounting Pri... Read more
