Accounting, Bookkeeping & Tax Blog

Your small business resource for accounting, bookkeeping, and taxes from our experts.

What’s the Difference Between Bookkeeping and Accounting?

Accounting and bookkeeping are vital processes that small businesses use to ensure their financial information is accurate and complete. Bookkeepers and accountants work with financial data, and both professions require a basic knowledge of accounting practices. Because of this, small business owners might think they’re one and the same. Regardless of their similarities, the functions […]


Bookkeeping for Truckers: 5 Tips to Keep Your Finances In Order

Truckers, as owner-operators, have a lot on their plates with the constantly evolving trucking industry. 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 […]


Outsourced Bookkeeping: The Ultimate Guide

Watching your business grow is thrilling – you finally see the results of your hard work.   Unfortunately, the more your business grows, the more time your bookkeeping takes.  You might spend hours categorizing transactions, chasing receipts, and compiling reports. Perhaps you dread filing tax returns because of your unorganized spreadsheets. Accurate bookkeeping is essential to […]


Catch-Up Bookkeeping: Understanding What It Is and How It Works

As your small business grows, so too do your responsibilities. It can be increasingly difficult to devote time to these obligations as your business is on the rise, with tasks like bookkeeping often falling by the wayside. Maintaining accurate and up-to-date financial records is vital to a healthy small business. Without them, it’s difficult to […]


Bank Reconciliation: Everything You Need to Know

Bank reconciliation is a useful tool if you want to know how to keep good financial records. It can assist you in significant ways to protect your finances. It can also help you determine whether there are errors in your transactions and, if so, how you can correct them. However, there are several things that […]


Freelance Bookkeeping: Everything You Need to Know

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 for freelancers is critical, even […]


What a Balance Sheet Is and Steps to Create One

Do you ever wonder about the financial health of your business or how investors perceive your company’s financial stability? This comprehensive guide on creating and understanding a business balance sheet helps answer these questions. We discuss the complexities of balance sheets, highlight their purpose, and the step-by-step process of creating one. You’ll discover how balance […]


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. Continue reading to learn important things you […]