1-800Accountant Blog

freelance-bookkeeping

Crash Course: Bookkeeping for Freelancers

Employees can essentially trust their employers to handle much of the regular work of bookkeeping for them. Their employer keeps track of their income, withholds wages to pay taxes, and then sends regular reports on all of that.  Freelancers, on the other hand, are on their own. That’s why bookkeeping is one of the most […]

purchase-order

Purchase Order: What It Is and How It Works

Purchase orders can help both buyers and sellers track a transaction. It offers legal protection for buyers and is also helpful for sellers. There are things you may not know about purchase orders, such as the four purchase order types, when to use one over another, and their pros and cons. Here’s what you should […]

small-business-bookkeeping

The Complete Small Business Guide to Bookkeeping

No business can survive without bookkeeping, but few small business owners get excited about doing it. Instead, it’s one of those secondary considerations many entrepreneurs assume they’ll have to pick up along the way.  And for many business owners, it continues to be an afterthought. You started your business because you had an idea and […]

accounts-payable

Bookkeeping 101: What Is Accounts Payable?

Accounts payable is central to bookkeeping. It helps small business owners determine to whom they’ll pay debts, and it’s also helpful in noting the amounts on your balance sheet. While you may think accounts payable only refer to short-term debt, there are some valuable things you should know. Here’s what you should know about accounts […]

invoice

6 Things Small Businesses Need to Know About Invoices

There are few documents more critical to small businesses than the invoice. Business owners will have difficulty running their business 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 […]

bookkeeping-101-double-entry

Bookkeeping 101: What is Double-Entry?

Double-entry bookkeeping is a system of bookkeeping that provides a more detailed view of your financial transactions at a glance.  For those new to bookkeeping, double-entry bookkeeping can seem complex. We’ll break down what you need to know about it, how it works, and how it differs from single-entry bookkeeping.  What is Double-Entry Bookkeeping? Double-entry […]

bookkeeping-101-debits-credits

Bookkeeping 101: What are Debits and Credits?

Debits and credits are an important part of organized bookkeeping. The two concepts work together so that bookkeepers can better manage their financial transactions. If you’re not accurately tracking your debits and credits, your accounting could get extremely messy and chaotic.  Some differences between the two can affect how your small business conducts its bookkeeping. […]

bookkeeper-vs-diy

Pros and Cons of Bookkeepers vs the DIY Method

Bookkeeping is one of the most important aspects of any small business. It is also important that you know the process, whether you work with a bookkeeper or do it yourself.  There are pros and cons to each, and there are also things that you should know too. Here is what you should know about […]

what-is-chart-accounts

Bookkeeping 101: What is a Chart of Accounts?

A chart of accounts is an excellent way for you to see your company’s finances. It provides small business owners with a strategy to see their transactions arranged in several categories. You should know a few things before creating a chart of accounts, especially if you’ll ever plan on adjusting it. Here is what you […]