Accounting, Bookkeeping & Tax Blog

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

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 […]

what-is-bank-reconciliation

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

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 […]

bookkeeping-101-what-is-a-balance-sheet

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 […]

are-you-wasting-time-on-small-business-bookkeeping

How to Streamline Accounting Processes: 6 Effective Ways

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?  […]

bookkeeping-101-double-entry

What is Double-Entry Bookkeeping?

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 […]

bookkeeping-101-what-is-an-income-statement

Bookkeeping 101: What Is an Income Statement?

An income statement is one of the key financial statements that can help your business and budget and determine financial performance. It’s a helpful tool to monitor your spending and figure out how to allocate money. If you’ve never made an income statement before, don’t sweat it. We’re here to walk you through everything you […]

invoice

Small Business Invoices: 6 Things Business Owners Need to Know

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. […]