Forty-five states and Washington D.C. have some type of state sales tax. Some states might even have different sales tax rates or rules for local taxes or online sales. Chances are, your business is probably in a state with sales tax. To remain compliant, you must know sales tax laws by state. Read on to […]Read More Sales Tax Laws by State: What’re Your State’s Rules?
Your business’s fiscal quarter plays a role when it comes to things like taxes and finances. But, what is a fiscal quarter? Learn all about fiscal quarters and how to use them in accounting and business.Read More What Is a Fiscal Quarter?
When it comes to your business, keeping up with your finances is a must. And to know where you stand financially, understand how to calculate certain figures, like current assets. Get the scoop on how to calculate current assets for your business and how to use them to evaluate your company’s finances.Read More How to Calculate Current Assets in Accounting
Canton, OH Patriot Software, a leading accounting software and payroll software provider was recognized as the 2021 top-rated product in Software Advice’s Year-end Report for Best Accounting Software.Read More Patriot’s Accounting Software Makes Top Accounting Software List
Without customer demand, there is no business. Although no one can predict exactly how high in demand a product or service will be, you can guesstimate it. How, you ask? With demand forecasting. Get the lowdown on types of demand forecasting, how to forecast demand for your business, and more.Read More Demand Forecasting 101: How to Predict When Sales Will Spike
As a business owner, you may know the definition of cost of goods sold (COGS). But do you know how to record a cost of goods sold journal entry in your books? Get the 411 on how to record a COGS journal entry in your books (including a few how-to examples!).Read More How to Record a Cost of Goods Sold Journal Entry 101
At some point or another, an employee may need to use company funds to make a business-related purchase. When this happens, expense management comes into play. Learn all about small business expense management and how to streamline your process to ensure you reimburse employees in a timely manner.Read More Improving Your Business Expense Management 101 [With 4 Tips]
At some point or another, you may need to know your gross receipts for certain situations, like taking out a loan. But, what are gross receipts exactly? And, how do you calculate them? Let’s get into the nitty gritty of gross receipts.Read More What Are Gross Receipts, and What Do You Need to Know Them For?
Part of the role of being an employer is withholding, contributing to, and remitting employment taxes. But, what happens if you don’t make a payment on time or pay an incorrect amount? Cue the Failure to Deposit Penalty.Read More Make an Employment Tax Mistake? You May Face the Failure to Deposit Penalty
Heads up: Congress recently passed the Infrastructure Investment and Jobs Act, which President Biden signed on November 15, 2021. The new expiration date of the ERTC is September 30, 2021 for most businesses, and the IRS has provided guidance on failure to deposit penalties. Due to the coronavirus negatively affecting businesses nationwide, there are a […]Read More What Is the Employee Retention Credit, and How Does It Work for Employers?