Fri, 25 Oct 2024 19:47:18 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.2 https://www.patriotsoftware.com/wp-content/uploads/2020/01/cropped-site-favicon-32x32.png 32 32 https://www.patriotsoftware.com/blog/accounting/what-is-single-entry-bookkeeping-system-example/ Thu, 03 Oct 2024 19:15:00 +0000 https://pslohio.wpengine.com/uncategorized/what-is-single-entry-bookkeeping-system-example/ As your small business begins to make transactions, you must record them in your books. If you want an “easy” way to track business finances, you may consider using single-entry bookkeeping instead of double-entry bookkeeping. Single-entry bookkeeping lets you record transactions quickly so you can get back to running your business. But what are the […]

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]]> https://www.patriotsoftware.com/blog/accounting/what-is-suspense-account-journal-entry-example/ Fri, 05 Jul 2024 18:14:00 +0000 https://pslohio.wpengine.com/uncategorized/what-is-suspense-account-journal-entry-example/ Sometimes, you don’t have all the necessary information for accounting. Missing or incorrect details can derail your bookkeeping efforts, but you need to record every transaction. Use a suspense account when you’re not sure where to record general ledger entries. What is a suspense account? A suspense account is an account where you record unclassified […]

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]]> https://www.patriotsoftware.com/blog/accounting/how-post-entries-to-general-ledger/ Fri, 05 Jul 2024 17:23:00 +0000 https://pslohio.wpengine.com/uncategorized/how-post-entries-to-general-ledger/ As a business owner, you juggle a number of tasks, including accounting. You’re responsible for creating journal entries after every transaction. But that’s not all. You also need to know how to post journal entries to the general ledger. Learn how here. General ledger overview Your general ledger is a record used to sort and […]

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]]> https://www.patriotsoftware.com/blog/accounting/business-name-or-trade-name-difference/ Wed, 05 Jun 2024 21:13:00 +0000 https://pslohio.wpengine.com/uncategorized/business-name-or-trade-name-difference/ 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 names vs. trade names and how they contrast. Just […]

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]]> https://www.patriotsoftware.com/blog/accounting/debits-and-credits/ Wed, 08 May 2024 15:20:00 +0000 https://pslohio.wpengine.com/uncategorized/debits-and-credits/ In accounting, there’s one thing you can’t ignore: how debits and credits work. To keep accurate books, learn and understand the difference between credit vs. debit. Debits and credits keep your books balanced and organized. Read on to learn more about debits and credits in accounting. What are debits and credits in accounting? Part of […]

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]]> https://www.patriotsoftware.com/blog/accounting/how-to-fill-out-file-prepare-1099/ Mon, 06 May 2024 16:07:00 +0000 https://pslohio.wpengine.com/uncategorized/how-to-fill-out-file-prepare-1099/ How do you fill out the most recent version of the 1099-MISC form? Learn how to fill out Form 1099-MISC and where to send completed forms. Form 1099-MISC overview Form 1099-MISC, Miscellaneous Information, is an information return that businesses use to report payments and miscellaneous payments. File Form 1099-MISC for each person you have given […]

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]]> https://www.patriotsoftware.com/blog/accounting/what-are-prepaid-expenses-journal-entry-adjustments-examples/ Mon, 06 May 2024 15:54:00 +0000 https://pslohio.wpengine.com/uncategorized/what-are-prepaid-expenses-journal-entry-adjustments-examples/ Do you ever pay for business goods and services before you use them? If so, these types of prepaid expenses require special attention in your books. You need to create a prepaid expenses journal entry. So, do you know how to record a journal entry for prepaid expenses? Don’t panic if you don’t. Instead, follow […]

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]]> https://www.patriotsoftware.com/blog/accounting/margin-vs-markup-chart-infographic/ Mon, 06 May 2024 15:16:00 +0000 https://pslohio.wpengine.com/uncategorized/margin-vs-markup-chart-infographic/ Business owners often confuse margin and markup. After all, they both deal with sales, help you set prices, and measure productivity. But, there’s a key difference between margin vs. markup—and knowing this difference is how you can set prices that lead to profits. Unsure about the difference between markup vs. margin in accounting? We’ve got […]

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]]> https://www.patriotsoftware.com/blog/accounting/how-to-start-your-small-business-checklist/ Thu, 25 Jan 2024 20:15:00 +0000 https://pslohio.wpengine.com/uncategorized/how-to-start-your-small-business-checklist/ You have a million-dollar business idea. And after weeks, months, or even years of thinking about it, you decide to make your idea a reality. Do you know how to start a small business? For 15% of business owners, getting started is the hardest part of being a business owner. After all, there are a […]

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]]> https://www.patriotsoftware.com/blog/accounting/sales-tax-holiday/ Wed, 05 Jul 2023 20:56:00 +0000 https://pslohio.wpengine.com/uncategorized/sales-tax-holiday/ For business owners in most states, collecting and remitting sales tax is part of the job description. But on select dates throughout the year, your customers can take advantage of a sales tax holiday. As a business owner, you must know about and adjust your collections process for sales tax holidays. Read on to learn […]

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