Basic Bookkeeping Tips

For many small businesses, the most common bookkeeping errors are also the easiest to fix. Use these six tips to help keep your business on sound financial footing. 1. Use the right accounting system. Most businesses use either cash-based or accrual-based accounting. If you use the cash method, you count income when you receive it […]

New Laws Could Affect Venues

Tuesday, August 5, 2008: The E-Fencing Enforcement Act of 2008 was introduced into the House of Representatives last week. If passed, the new law would require online selling sites like eBay to retain information about high-volume sellers. That information could be requestd by retailers and law enforcement officials in cases where police reports have been […]

Online Sellers Face New IRS Rules

On July 30, 2008, in an article titled: Online Sellers Face New IRS Rules, The Wall Street Journal reported that those who regularly sell items online may find themselves affected by recent legislation which will set new rules to help the IRS collect more taxes from online sellers. According to the IRS many online sellers […]

The American Bar Association

The is the largest voluntary professional association in the world. With more than 400,000 members, the ABA provides law school accreditation, continuing legal education, information about the law, programs to assist lawyers and judges in their work, and initiatives to improve the legal system for the public. The Mission of the American Bar Association is […]

What Can Business Accounting Software Do For You?

Control your business finances and cash flow. Manage your tax returns. Produce your annual accounts and end of year reports. Let you know which products and customers make you the largest profits. Record, adjust and manage your inventory levels. Keep accurate records of your customers and suppliers. Identify consistent late payers and reduce the risk […]

Which accounting method is best for your business?

Most businesses typically use one of two basic accounting methods in their bookkeeping systems: cash basis and accrual basis. While most businesses use the accrual basis, the most appropriate method for your company depends on your sales volume, whether or not you sell on credit, and your business structure. The cash method is the most […]

Why Bookkeeping?

Bookkeeping is an important part of your business. You need to keep records and produce accurate financial statements. These will tell you a great deal about how your business is doing. Bookkeeping doesn’t have to be dull or dreary. It may not be an exciting adventure but it can be motivating when it shows you […]

What To Sell

One, or both, of the following two questions: “What product(s), or service(s), should I sell?” “What product(s), or service(s), will make me the most money?” is asked by just about every person opening a new online business. Not only is there no simple, good, answer to these questions but any person who knows what they […]