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These tips are based on the United States’ tax system. Please talk to your accountant for specific tax advice. As a small business, nothing is more important than the preservation of Cash. Losing money to worthless expenses can literally sink a new company before it gets off the ground. Unfortunately, business taxes are one such …

One of my personal favorite times of year is just around the corner. Not only for the turkey and elaborate decorations, but that the end of the year gives me a chance to reflect on the year, and set new goals for the next year. With that being said, here are my top 5 tips …

An addition to the original series on FreshBooks and an accounting package. If you’re using FreshBooks to manage your staff’s time sheets and your billing, but use an accounting package (QuickBooks) to run your more complicated back-end bookkeeping, and if you use the cash basis to record your transactions, here are some helpful hints to make …

It’s the New Year and you know what that means! Resolutions for better bookkeeping! Fun right? Unlike the gym, you always need to do a good job on your taxes to save yourself time and save your accountant’s time, which saves you money (more six packs!) But what are you going to do this year …

“Accrual accounting was created to fill textbooks” said a CPA (Certified Public Accountant) I was chatting with on a recent road trip. Essentially, since accrual accounting is more complicated than cash basis accounting, it fills up more space in textbooks, justifying their length. The …

“Cash flow is the movement of cash into or out of a business, project, or financial product.” – Wikipedia Great, but what does that mean? From a practical standpoint, it’s the “into or out” of a business. So for your (very) small business, it’s the revenue (invoices) coming in and expenses (utilities, staff, contractors etc.) …

Guest post by Gregg Barash, President & Founder of Myndbend Multimedia, Inc. Being self-employed means you wear a lot of hats in your business. Over 10 years, I’ve been a project manager, account manager, developer and marketer. Through all …

Special thanks to a great guest poster, Jason Blumer, for this post! Jason is a CPA, Partner, and Head Creative Dude at Blumer & Associates, CPAs, PC. Jason’s an innovative, smart thinker who knows his stuff. Thanks Jason! You can also check out Do I Really Need an Accounting Package (Part 1) to read more! …

3rd part of a three part series on using FreshBooks with a double ledger accounting program. Check out Part 1: Overview and Rules and Part 2: Workflow #1 -  Using General Account Entries.   This is the second workflow of two. This workflow is good if you want detailed reporting in your accounting program – …