Cash Basis Accounting & Accrual Accounting - Our Guide

No matter what type of business you own, having the right accounting method is crucial. Choosing the right method is essential when filing your tax return because you will use this method on all your subsequent returns. The two primary methods are cash basis accounting and accrual accounting. As a business owner, you cannot just choose one at random.

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Alejandro Tavera
The Best Expense Tracking Tools For Small Businesses - Our Guide

Every business needs to have a good expense tracking system in place. In fact, it is crucial for businesses to track their expenses on a regular basis.

 One reason for this is that, when tax season comes, you will not have to sift through piles of old receipts to try to determine which expenses were for business and which were personal. Moreover, a good tracking system allows you to see exactly where your money is going each month.

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Alejandro Tavera
What You Need to Know About Bank Reconciliations

When you hear the words “bank reconciliation,” what comes to mind? If it is a mental image of two bank managers shaking hands and coming to an agreement, you are probably not an accountant! If you realize that it is the process of double-checking company and bank records, chances are that you are either an accountant or you have some degree of accounting knowledge. Bank reconciliations are  a crucial part of the financial flow of any given business, and it’s important to know what they are. If you want to ensure successful cash flow in your business and keep your money from going to waste, here’s what you need to know:

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Alejandro Tavera
6 Tips to Improve Your Bookkeeping Process

Bookkeeping is a job that requires meticulous care and effort. It is one of the most vital things necessary for any company because, without a proper bookkeeping process, the entire workflow can be put in jeopardy. When you aren’t able to keep track of the yearly spendings, you will eventually end up with issues pertaining to payroll, taxes, and overall profitability.

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Alejandro Tavera