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Topics to Discuss with Your Business Accountant

by | May 27, 2021 | Small Biz Accounting

As a small business owner, you have a million questions running through your mind each day—and typically, it’s up to you to answer them! However, having a business accountant comes in handy for those questions you can’t answer on your own. According to the SBA, only...

Income Statement

by | Jan 11, 2021 | Small Biz Accounting

Understanding the Income Statement The income statement is one of the basic financial statements that disclose the financial performance of a company. Profit and loss statement (P&L), statement of income, and statement of earnings are other names for the income...

Accrual Accounting Vs. Cash

by | Nov 2, 2020 | Small Biz Accounting

Cash vs Accrual Accounting You have finally taken the leap and started the business you have always dreamt about. However, now you must make one more tough decision: what accounting method should your business follow: cash or accrual accounting? Accounting methods are...

Business Owners: Accounting Checklist

by | Jan 2, 2020 | Small Biz Accounting

End of the Year Accounting Checklist One of the things that you will need to do for your business at the end of the year is to close the books. If you have been keeping them up-to-date using generally accepted accounting principles throughout the preceding months,...

QuickBooks: Reports to Use

by | Sep 1, 2019 | Small Biz Accounting

Reports to Use in QuickBooks QuickBooks (QB) is a very user-friendly and customizable accounting software. QB designed the many features to help the user enter all of the various transactions that occur within a business. After entering data, QB offers the user a...

Income Statement: The Importance

by | May 1, 2019 | Small Biz Accounting

The Importance of the Income Statement There are four basic financial statements: Balance Sheet, Cash Flow Statement, Income Statement and Statement of Retained Earnings. External users such as investors, creditors, etc. use these statements to gain insight into the...