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A nerve-wracking visit from the IRS isn’t the only type of audit out there. There are several audits you can—and should—conduct regularly. To do that, you need to know how to conduct an audit.
Read More How to Conduct an Audit of Your Small Business
You probably know your company’s liabilities, aka debts your business owes. But how often do you think about liabilities that you may or may not have, depending on the outcome of a future event?
Read More Examples of Contingent Liabilities Your Small Business May Need to Record
If you’re like many business owners, you know that you have to handle certain tasks, like purchasing items, taking on debt, or putting your own money into your business, to get your venture up and running. And when your company processes any type of transaction, whether it’s debt, purchases, etc., you have to record it […]
Read More Assets vs. Liabilities: The Complete Breakdown
In accounting, you deal with a variety of accounts to balance and organize your books. One type of account you will likely run into is a real account.
Read More Real Accounts: What to Know About These Permanent Accounts
Keeping an eye on your business’s finances is oh-so-important if you want your company to thrive and grow. This includes monitoring your financial statements and calculating financial figures, such as total revenue. Get the lowdown on how to calculate total revenue and ways to use it to benefit your business.
Read More How to Calculate Total Revenue in Accounting [With Examples]
In accounting, there’s one thing you can’t ignore: how debits and credits work. To keep accurate books, learn and understand the difference between credit vs. debit.
Read More Debits and Credits 101: Definitions & Example
Your company’s tax liability largely depends on the business structure you choose. And if you structure your business as a corporation, you’re responsible for paying the corporate income tax rate on company earnings. So, what is the corporate tax rate?
Read More What Is the Corporate Tax Rate? [Federal & State Guide]
To grow your business, you need to track financial information and measure performance. One metric you should be keeping an eye on is your business’s profit margin. Read on to learn how to calculate profit margin for your company and ways to improve your margins.
Read More How to Calculate Profit Margin for Your Small Business in 3 Simple Steps [Formula]
If you’re a small business owner, you likely receive cash payments from your customers. And if you receive cash payments, you need to know about recording cash receipts in your books. So, how do you record cash receipts?
Read More How to Manage and Record Cash Receipts in Your Small Business
How do you fill out the most recent version of the 1099-MISC form? Learn how to fill out Form 1099-MISC and where to send completed forms.
Read More How to Fill Out a 1099-MISC Form: 1099-MISC Instructions [The Ultimate Guide]