Tracking Vehicle Expenses
How do you deduct business auto expenses?
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Depreciation Vs Amortization
If you have done research into business expenses you may have heard about depreciation and amortization, but what are they and how are...
What is an Intangible?
Intangibles are assets in a business that cannot be physically moved or measured, but that are still property of the business. These can...
Long Term Vs Short Term Debt
Have you heard of short term debt and long term debt? They are both debt owed by a company, but their classification is important when...
The Difference Between Gross Profit and Net Income
Gross profit looks at the amount of revenue remaining after direct costs. Net income factors in all costs.
What is Managerial Accounting?
Managerial accounting involves the utilization of financial information in reports that facilitate the proper management of a company.
What is Financial Accounting?
Financial accounting deals with information provided to people/companies outside of the business.
How to Record Sales Tax
If your sales tax is hitting a revenue or expense account it is being recorded incorrectly.
Tips For Keeping Personal and Business Finances Separate
Need help keeping your business and personal finances separate? Here are a few tips from our experts to make it easier.
Why Do You Need to Separate Personal and Business Finances?
It may be tempting when you own a business to swipe a business card to cover a personal charge, but doing so can create tax and legal issues
What are Prepaid Expenses?
Prepaid expenses are expenses paid before they are used such as paying for a year of rent in advance.
Cash Versus Accrual Accounting
Cash accounting and accrual accounting are the two main choices businesses have for keeping their books.
What is a Chart of Accounts?
The chart of accounts provides the framework for your accounting system. It is one of the first things you should set up.
What are Bank Reconciliations?
Bank reconciliations provide a built in check point for accounting accuracy.