Keeping track of income and expenses is essential, even if you don't own a business. And if you do own a business, things get even more complicated. There are paychecks to issue, taxes to track, and subcontractors to pay out. All of these details are a whole lot less challenging when you hire an accountant to oversee them. However, it is still important to know a little bit about accounting yourself. Dig into the articles on this website, and you'll gain a better understanding of accounting principles, what services accountants really offer, and the benefits of hiring these professionals to assist with your finances.
21 January 2020
As your business grows, you will undoubtedly need more help to do things like paying bills, enacting collections, purchasing, and estimating. As more employees are involved in these processes, your company needs a way to ensure accuracy and timeliness. One of the best ways to do this when it comes to paying invoices is to use three-way matching. What is three-way matching, what are its benefits, and how can you implement it?
20 January 2020
For many people in the service industry, dealing with tips is an essential but sometimes challenging part of earning a living. Do you have trouble keeping up with the rules about reporting tips to your employer and to the IRS? If so, it may help to understand the value of reporting on a regular basis rather than falling behind or being haphazard. What are some of the benefits of doing so?
20 January 2020
If you're missing funds from your store's financial accounts, you could have an embezzler within your ranks. Embezzlers are people who take money from their clients or employers. People who embezzle funds often use undetectable methods, such as falsifying records or manipulating numbers, to take small amounts of money from your accounts over a period of time. Here are steps you may consider taking to find the suspected embezzler in your company.
17 January 2020
Are you going into the potentially lucrative business of building a social media or blogging presence? Modern entrepreneurs have more opportunities than ever before to earn money at home, doing things that they love. But just as with any commercial endeavor, it's important to understand how to stay within the tax rules in order to avoid legal and financial trouble. So, what should you know about taxes as you grow your branded business?
16 January 2020
If you do long-term projects for clients, you need to be able to track costs accurately and regularly. And one of your biggest tools to ensure that you continue to earn a profit for such long jobs is known as "job costing". What is job costing? And how can it benefit your business? Here are a few answers. What Is Job Costing? At its heart, job costing is the act of tracking expenses related to each particular project (job) and assigning them correctly to that job.