Est Quarterly Payments
The dreaded tax season is behind me (although I admit I do love it, I also love it when it is over, heh). I survived and so did you, woo hoo! Hopefully it ended on a positive note for you. … Continue reading →
Category Archives: Wednesday Wisdom
Overview of Common Bookkeeping Systems
What is your current bookkeeping system? or maybe you haven’t implemented one yet? Depending on your business needs, a spreadsheet may do the job just fine or you may want to invest in software. Or maybe it is just too … Continue reading →
Keep It Simple: We create a Chart of Accounts to classify Income and Expenses. Best practice is to keep it simple. Because the more accounts you have, the more time you will spend in deciding which account to use. For … Continue reading →
Liabilities
Talking about your business liabilities today. Some examples of liabilities are: Accounts payable Customer deposits Current portion of debt payable Deferred revenue Income taxes payable Interest payable. Payroll taxes payable … Continue reading →
Cash or Accrual?
Do you use Cash or Accrual basis in your business accounting? For most of us, cash is more simple although accrual will give you a better idea of what is happening when in your business. Unless you have inventory, most … Continue reading →
What is an Asset?
What is an Asset in your business? *TIP* There are fixed assets and current assets. … Continue reading →