What is the Major Benefit of a Real-Time Bookkeeping Accounting System for Your Business?
The business world is much different than it was a decade ago. What used to take time can not be done within moments with the technological advances that we all enjoy. All you have to have is a connection to the internet and you can take on the world. This is one of the reasons…
Understanding Capital Accounts; How Do You Record Partner Distributions & Contributions?
It is no secret that bookkeeping is an essential part of owning a business. This helps business owners understand their financial standing and how healthy their business is. It can help a business reach success and avoid financial trouble including bankruptcy. An important part of bookkeeping is recording equity contributions to and from partners. This…
What is the Difference Between Non-Profit & For-Profit Accounting Services?
For the most part, when someone starts a non-profit organization, it isn’t because they wanted to have a business with endless paperwork to fill out. It is usually to fill a need in a way that will be beneficial to others. For this reason, it shouldn’t come as a surprise to find out that accounting…
QuickBooks Tips for Online Sellers; Calculating Sales Tax & More
There are many people that have found that they can reach a lot of success by selling their products online. There is hardly anything that you could possibly want, that you can’t find online. If you are someone that sells your products on an online platform, it is important that you are keeping accurate records…
What is the Biggest Benefit of Hiring a Business Consultant? Strategic Planning & More
In today’s rapidly evolving business landscape, staying competitive and achieving sustainable growth requires strategic insight, adaptability, and expertise. For many companies, especially small to medium-sized enterprises (SMEs), navigating through complex challenges can be daunting. This is where a business consultant can make a significant difference. In this blog post, the experts at Propel Your Accounting…
What is an Advantage of Hiring a Professional to File Your Taxes? Maximize Deductions & More
Tax season can be a stressful time, whether you’re an individual filer or a business owner. With ever-changing tax laws, complex deductions, and the risk of errors, filing taxes on your own can lead to missed opportunities or costly mistakes. Hiring a professional tax preparer provides peace of mind, ensures accuracy, and may even save…
What is the Entry for Writing Off Bad Debt? How to You Claim Bad Debts on Taxes?
Whenever you’re doing business with someone, you expect them to pay you what they owe. However, that isn’t always the way it works in the real world. This can leave businesses with bad debt that is a loss for their company. When your business is faced with this dilemma, it is important that you know…
How Do You Consolidate Financial Accounting Statements for Multiple Entities?
If you own a growing business, it can be overwhelming to keep track of financial statements from multiple entities at once. You might find that there comes a time when it simply doesn’t make sense any longer to juggle them separately as you continue to grow. When you consolidate financial statements, you can more easily…
Why Do Small Businesses Need Bookkeeping? Accuracy, Tax Ready, Growth & More
Small business owners are often some of the hardest working people in the country. It takes a lot of work to find your own success as you blaze your own trail. It can be difficult to rely on others to help you find the success you’re looking for. It might seem like the more you…
How to Record a Loan as a Lender / Debtor; Interest, Payments & More
Bookkeeping is an essential part of doing business. You will have to keep track of all your financial data which includes loans and other business transactions. There is a process in recording loans so that they are recorded and can be reflected in your bookkeeping. There is a process in recording loans for your business.…
