Double-entry bookkeeping is a system of bookkeeping that provides a more detailed view of your financial transactions at a glance. The double-entry bookkeeping system also complies with rules and requirements of the US generally accepted accounting principles (GAAP). For those new to bookkeeping, double-entry bookkeeping can seem complex. We’ll break down what you need to know […]
Good bookkeeping keeps your company healthy. To do that, you’ll need a general ledger, but what goes into a general ledger?
The clock is ticking, and tax season is right around the corner. As you gear up to confront the daunting task of filing your taxes, it’s essential to have an understanding of critical but complex terms such as Adjusted Gross Income (AGI). Understanding AGI can have a significant impact on your tax payments and potential […]
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 […]
Efficiently managing your business finances may seem like a challenging task, but with a well-structured bookkeeping spreadsheet, you can easily track your financial transactions. Whether you decide to create the spreadsheet yourself or to work with an accounting professional, understanding the different types of accounts is crucial. In this article, we’ll outline the key aspects of […]
Truckers have a lot on their plates. Between long-haul deliveries, managing their schedules, and maintaining their vehicles, there isn’t always much time to dedicate to bookkeeping. However, bookkeeping for truckers is just as important as it is for independent contractors in other industries. The bookkeeping process is very detailed, requiring you to have your documents, […]
Tax season is right around the corner. Now is the time to prepare your small business taxes. This includes everything from invoices, receipt books, bank statements, and any records pertaining to your small business expenses. Maybe you’re well-prepared and already a pro at keeping a detailed daily expense tracker. Or maybe you’ve let some things […]
Bookkeeping is something that all businesses will benefit from starting. When it comes to how you do your bookkeeping, you may not know that you have options. Virtual bookkeeping is a bookkeeping option that may be right for your business, and it has advantages and differences. Learn more about how to hire the best bookkeeping […]
When you’re in business for yourself, efficiency is everything. As an independent contractor, you can’t afford to waste any time. You need someone else to share the load or to look over your shoulder and check your work. That goes for your bookkeeping as well! Careful bookkeeping for independent contractors is essential to keep your […]
Understanding accounts receivable is an essential aspect of your business’s finances and payment terms. Accounts receivable are legally enforceable claims for payment held by a company for goods supplied or services rendered that customers/clients have ordered but haven’t yet been paid for. What is Accounts Receivable? Accounts receivable is goods, money, or services owed to […]
