What is the Difference Between Cash Basis Accounting and Accrual-based Accounting?
Cash and accrual-based accounting are the two common types of accounting. Businesses must select one of the accounting methods to…
Better Bookkeeping Tips for the Self-Employed
It comes to no one’s surprise to learn that bookkeeping is an important business activity. However, it is also one…
Assets vs. Liabilities: The Complete Breakdown
An important task for small business owners is managing financial resources. You need to have a clear understanding of the…
42 Common Accounting Terms Explained for Small Business Owners
Business owners need to know about important accounting terms. This is important so that they understand the financial statement prepared…
Bookkeeping Tips: How Does Standard Costing Affect Manufacturing Companies?
Cost control is an important accounting activity for every business. One effective cost control measure that can help a business…
Small Business Tips: How to Minimize Business Debt Burden?
The majority of small businesses rely on credit financing to meet operational expenses. A survey found that nearly 70 percent…
7 Steps to Preventing Expense Reimbursement Fraud
Expense reimbursement fraud is one of the growing problems faced by organizations today. Preventing fraud is important to avoid financial…
What are Some of the Best Accounting Software in the Market in 2022?
Accounting software today offers a number of features, ranging from intermediate to expert level features. This allows small business owners…
What is an Estimated Tax?
Estimated tax refers to the quarterly payment of tax. The tax amount is based on the reported income of the…
Nominal Account – Definition with Examples
You just got to know the difference between cash and accrual basis accounting. Another accounting term that baffles some business…
