Amanda Cameron

‘Tis the season for purchase returns … all year long. Because if you sell products at your business, you know that not all customers are satisfied. If a customer wants to bring back an item, you need to make sales returns and allowances journal entries.

In this day and age, people are pushing cash to the side and paying with plastic. In fact, one study found that 80% of people prefer to use card payments over cash. But, just because plastic is dominating does not mean cash is obsolete. Many people still prefer to pay with cash. And in some […]

The year 2020 has brought on a lot of new changes for business owners and individuals alike. One major change is a redesigned Form 1099-MISC, thanks to the comeback of Form 1099-NEC. Learn about the recent changes, how to fill out Form 1099-MISC, and where to send yours once it’s good to go.

If you want to keep your business running, you need to fork over some cash to buy goods and services. And sometimes, you might use credit to make these purchases, resulting in accrued liabilities.

As a small business owner, you know how important it is to keep track of your company’s finances. But, sometimes your business bank statement is not up-to-date with the most current information. For an up-to-date picture of your transactions, you can use a check register. So, what is a check register?

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.

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.

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.

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 […]

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.