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As the end of another year approaches, business owners tend to be busier than ever. Many businesses see increased activity at this time, especially retail and seasonal companies. On top of that, there are some year-end bookkeeping tasks you need to perform, to make your 2023 tax season easier. Here’s what to do to get […]

Keeping your personal and business finances separate is one of the most important things you can do as a business owner. Not only does it make bookkeeping and tax preparation easier, but business bank accounts often have special perks for business clients. Choosing the right bank for your small business account depends on your individual

When you’re starting a business, there’s a lot to learn. Even experienced owners can find themselves confused by finances, bookkeeping, and especially terms of art. One common question is why the number under “net income” never seems to match how much money you have in the bank. naomi watts nude Here’s a quick guide to

When you’re tracking your costs for bookkeeping and accounting purposes, there are three different types to know: fixed, variable and semi-variable. While fixed and variable costs are generally self-explanatory, semi-variable costs can confuse new business owners. Understanding fixed, variable and semi-variable costs will help you get a better idea of where you’re spending money, create

Financial management can be a struggle for small businesses. Often, business owners open their own companies based on a different passion, whether that’s handmade couture or wanting to cook for customers. While their product or service skills are top-notch, owners may not necessarily understand how to keep good financial records. Recording your daily sales and

Sustainability reporting is an expanding area of bookkeeping and accounting practices. As climate change and social injustice wreak havoc on the world, more businesses are looking for ways to become sustainable. Sustainability reporting helps businesses understand how their company’s non-financial aspects—from greenhouse gas emissions to using recycled paper—affect the environment and community around them. Here’s

Cash was once king, but today customers expect to be able to pay with credit cards. They’re convenient, easy, and fast—but they also come with merchant fees. Your small business is responsible for paying credit card transaction fees each time you accept a card. They can add up quickly, and eat into your profits. Here’s

Inflation has been rising rapidly this year, and small businesses have been hit hard. Most small businesses have tighter profit margins and lower cash reserves. Since money just doesn’t go as far as it once did, it’s tough to keep up with the burden of inflation. Inventory, supplies, fuel and materials are more expensive than

1099s are issued to taxpayers who earned non-employment income over the previous year. There are several different kinds of 1099s, depending on the type of income. Dividends, stock income and independent contractor service payments are all reported differently. If your business uses the services of independent contractors or vendors, you’ll need to issue a 1099

Charts of accounts (COAs) are a financial organizational tool. Companies should be able to provide a clear snapshot of their financial health for interested parties, such as investors, shareholders and more. COA contents can vary, depending on the type of business you run. Typically, they contain a list of assets, liabilities, revenue, expenses and equity,