Asset Management
When recording a new vehicle on the balance sheet, you'll need to consider several aspects to ensure accurate accounting. Here's a step-by-step guide:...
3 Bookkeeping Tips You Can Use Year Round
3 Bookkeeping Tips You Can Use Year Round As a business owner, bookkeeping is an essential task that can't be ignored. It's not just a yearly chore,...
All About Owners Equity
Owner's equity, also known as shareholders' equity or stockholders' equity in the context of corporations, represents the residual interest in the ass...
Recording charitable contributions in bookkeeping
Recording charitable contributions in bookkeeping involves accurately documenting donations made by your business to qualified nonprofit organizations...
Tips on tax reduction for businesses
Reducing taxes for your business legally and ethically is a sound financial strategy that can increase your profitability and cash flow. Here are some...
What is GAAP?
GAAP stands for Generally Accepted Accounting Principles. It is a set of standardized accounting principles, procedures, and guidelines used in the Un...
Must Follow Golden Bookkeeping Rules
Effective bookkeeping relies on several fundamental principles that can be considered "golden rules" for managing financial records accurately and eff...
How do I handle sales tax and record it in my books?
Handling sales tax and recording it in your books is an important aspect of financial management, especially for businesses that are required to colle...
Common Errors in Tax Preparation
Mistakes can happen when you're preparing your taxes, even with all the technological automation on hand. A good way to avoid the oversight is to keep...
Reasons Why Your Business Needs an Accountant
Do you ever think your business needs an accountant? There is a high percentage of small business owners shutting down after just a year of operation...