Do you ever get stuck at tax time with not enough cash? FreshBooks CEO and co-founder, Mike McDerment, who was a freelancer, had to take out …

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 …

Hooray! It’s New Year! Happy New Year! You know what’s right around the corner? Tax season! Paperwork is so exciting and it just takes minutes to run all your reports. Right? This year, since you used FreshBooks so diligently, you’re going to be done in minutes, assuming all your records are up to date. If …

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 …

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 …

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) …

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 …

2nd part of a three part series on making FreshBooks work with a double entry accounting program. Check out Part 1: Overview and Rules. The second workflow can be found in Part 3: Workflow #2 – Entering in Each Transaction This is the first workflow of two. This workflow is ideal if …