Even the smallest of small businesses have bookkeeping and accounting needs. Small business owners need basic bookkeeping to keep track of income and expenses. It’s essential for filing taxes, but bookkeeping also gives you essential information for making informed business decisions. How are you planning to expand? How many new staff members can you afford? […]
Good bookkeeping keeps your company healthy. To do that, you’ll need a general ledger, but what goes into a general ledger?
There are many different federal, state, and local regulations that govern how businesses behave and organize themselves in the United States. The laws and rules that affect your own business will vary depending on where you’re located and the particular business entity you pick to structure your company. Entity compliance is a shorthand term for […]
Employees and employers often use multiple payment methods depending on what works best. The traditional methods are direct deposit and check payments. Recently, employers have turned to payroll debit cards, also known as pay cards, which come with several advantages and drawbacks. If you’re an employee who wants to understand the fundamentals of a pay […]
There are few documents more critical than a small business invoice. Business owners will have difficulty running their businesses and making a profit without considering their invoicing system, especially if they offer a service. A company’s invoicing system serves as a tool to record how the revenue is appropriately collected in a small business environment. […]
Running a business alone can be overwhelming. However, building a team, regardless of your business’s size, can significantly ease your workload and pave the way for your company’s growth. With the right team, your business isn’t just dependent on you. This opens up increased opportunities for success. However, hiring employees comes with additional responsibilities. One […]
The complex process of bookkeeping can pose significant challenges for small business owners. Regardless of whether you’re inclined towards managing it yourself (the DIY method) or hiring a professional bookkeeper, a thorough understanding of both approaches is important. This article offers a comparative analysis of these methods. We’ll cover the pros and cons for each […]
Managing finances is one of the most challenging aspects for entrepreneurs or those just starting a business. Bookkeeping, in particular, can seem daunting, given the multitude of transactions, receipts, and invoices that need to be tracked and organized. Maintaining accurate financial records is crucial when assessing the health of your business. It allows you to […]
If you own a business, how do you pay yourself? Paying yourself is an essential task that can be confusing at times. You may wonder how to determine your compensation, especially if you’re just starting your business. The good news is that paying yourself as a business owner is a straightforward process that you can […]
Starting an S corp in New York City can provide significant benefits for your small business. New York has a robust economy, bustling metropolitan areas, and an expansive workforce. New York State offers an attractive environment for businesses to grow and thrive, making it an ideal location for entrepreneurs to launch their S corporations. Before […]
