If you want to make a profit, you need to mark up your products. But, how much is too much? To figure that out, determine a fair markup percentage. Calculating markup percentage helps you get the most out of pricing methods.Read More How Much Is Too Much? Determining a Fair Markup Percentage
One of the first things you do as a business owner is choose a business name. Your business can operate under your legal business name. Or, you can operate your company under a trade name. So, what’s the difference? Read on to learn more about business name vs. trade name and how they contrast.Read More Do You Know the Difference Between a Business Name vs. Trade Name?
Do you ever pay for business goods and services before you use them? If so, these types of purchases require special attention in your books. You need to create a prepaid expenses journal entry.Read More How to Create a Prepaid Expenses Journal Entry
According to a recent study, 60% of Americans don’t have enough money to cover an unexpected $1,000 expense. What about your business? Do you have enough money tucked away to deal with a sudden expense? If not, you need to give your cash reserve some love.Read More What Is a Cash Reserve?
Do you own a service business? If so, you know that figuring out how to price services isn’t always easy. To make sure your small business is profitable, try these tips for pricing services.Read More Strategies and Formulas for Pricing Services at Your Small Business
As a small business owner, you may find yourself struggling to keep up with your business’s books. As soon as you know it, another month has passed and you’ve fallen behind recording transactions. Sure, closing your books can be stressful and time-consuming. But if you have a monthly closing process and checklist in place, you’ll […]Read More Keep Your Business’s Books in Shipshape With a Month-end Closing Procedure and Checklist
As a small business owner, you have many accounting responsibilities, like tracking your business transactions, income, and expenses. And on top of juggling these tasks, you must also understand which basic accounting forms are relevant to your small business.Read More Basic Accounting Forms for Small Business That You Should Know
As an employer, one of the biggest responsibilities you have is knowing which payroll forms to fill out. With so many forms out there, it can be difficult to know which apply to your business. Learn which IRS payroll forms your small business must file, due dates, and where to send each form.Read More 9 IRS Payroll Forms for Small Business
If you find yourself tossing receipts left and right, you may want to think again. As a small business owner, keeping receipts is essential for your financial records. And not being able to locate a receipt can be problematic for your business. You need to know how long to keep business receipts to avoid complications […]Read More How Long to Keep Business Receipts
If you run a nonprofit organization, you work hard to give back to others. The government offers the opportunity for organizations like yours to gain tax exemption. However, applying for tax-exempt status can be a long and complicated process. Before starting the tax-exempt status application, find out what tax exemption means for your organization, determine […]Read More Does Your Organization Qualify for Tax-exempt Status?