27 Accounting Blogs Modern Accountants Should Follow

You’re not actually making or losing any money—it’s just in a new place. Any purchases you make or money you spend on the operation of your business (toward things like supplies, utilities, or advertising) goes under expenses. For example, a loan would go under liabilities since you’ll have to pay it back later. Amounts owing on credit cards, funds that need to be paid to vendors, or payment terms on a vehicle or item of equipment you purchased also count. As procrastination-worthy as it may seem, bookkeeping is a necessary part of successfully running your business.

What is Form 2210: Calculating Underpayment of Estimated Tax

The only thing we don’t like about Beginner Bookkeeping is the layout. You can see that this website is a solo project because it’s a bit messy visually and displays too many ads. However, it doesn’t change the fact that Sarah publishes quality petty cash posts every week. Bench has partnered with Skillshare to demystify accounting for entrepreneurs.

Top 12 Questions to Ask an Accountant When You Want to Grow Your startup business

• Here’s what it is, and how to hire a good bookkeeper online.
• Not to be confused with the C corporation, the S corporation is a unique tax filing status that provides access to significant tax benefits.
• You could go with one of dozens of popular cloud accounting solutions, like QuickBooks, Xero or Wave.
• Bookkeeping knowledge is essential for small businesses to ensure financial transparency, adherence to regulations, and well-informed choices.
• You’ll find information on estimated taxes, standard mileage rates and U.S. rules for business use of your car.
• They intend to provide individuals with seven strategic ways to benefit from the existing tax code and increase their profits.

CRA news for home based business owners doing their own bookkeeping. Closing the books is an important practice for any small business owner. Learning how to use QuickBooks Online to close your books is much simpler than some other accounting programs.

• Here’s where you can save (and where you really shouldn’t).
• Patrick McKenzie is driven by a strong work ethic, but not the kind you see touted in business journals and productivity books.
• Here’s what you need to know about obtaining the right licenses and permits to sell online.
• When doing the bookkeeping, you’ll generally follow the following four steps to make sure that the books are up to date and accurate.

Is it necessary to hire a bookkeeper or accountant?

But those early expenses need to be tracked whether it’s in a spreadsheet, in a software, or on the back of a napkin. Registering your business name should be one of your first steps in starting a new business. It can offer tax benefits as well as personal liability protection. If you’re self-employed, you’ll need to fill out Accounting For Architects Schedule C at tax time. Here’s a list of small business tax deductions commonly available to entrepreneurs. Check it twice, and make sure you’re claiming everything you can.

An Inside Look at How Bench Does Your Bookkeeping

Xero, a widely recognised accounting software, acts as a solid financial management tool and encourages a community through its informative blog. This blog emphasizes practice development and business planning, assisting accounting professionals in simplifying their businesses. At the same time, Book Mark Lee has tons of educational content that offers guidance on establishing a successful career in the accounting field. They have a skilled team of accounting professionals who regularly create authentic and insightful accounting guides, financial news, and other informative blogs. Sarah’s articles show that she fully understands the problems of small business owners who don’t have a clue where to start with bookkeeping. Beginner Bookkeeping is full of helpful tips, but there are also many free templates and tool recommendations.

Select an Accounting Methodology

So, if you’re a forward-looking accountant or business owner and you want to keep up to date with matters at the bleeding edge of the industry, the Blake Oliver blog is unmissable. Another factor to consider is that the bookkeeping blog accounting workforce is aging. As these experienced professionals reach retirement age, more positions will open up.

• Furthermore, advanced analytics powered by AI help accountants derive insights from data, facilitating better decision-making and strategic planning.
• Once you have analyzed your expenses, create a budget for the upcoming off-season period to allocate resources more efficiently.
• Reading the Ignition website lets you gain insights into the most effective financial and accounting practices.
• This method records both invoices and bills even if they haven’t been paid yet.
• Practice Ignition has a fantastic marketing team, and it shows in its content.
• Sample financial reports because sometimes a picture is better than words …

Tax Solutions: The Top 5 Options for Business Tax Filing

Most small businesses will either do their books themselves or outsource the work to a professional. We believe everyone should be able to make financial decisions with confidence. Unlike accounting, bookkeeping does not require any certifications. Individuals who are successful bookkeeping professionals are highly organized, can balance ledgers accurately, have an eye for detail and are excellent communicators.