Mon, 28 Oct 2024 20:21:28 +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/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/recording-cash-receipts/ Mon, 06 May 2024 16:16:00 +0000 https://pslohio.wpengine.com/uncategorized/recording-cash-receipts/ If you’re a small business owner, you likely receive cash payments from your customers. And if you receive cash payments, you need to know about recording cash receipts in your books. So, how do you record cash receipts? To ensure your books are accurate, you need to understand cash receipts accounting. Read on to get […]

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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/three-golden-rules-accounting/ Fri, 03 May 2024 22:50:00 +0000 https://www.patriotsoftware.com/?p=49113 You might have heard of the Golden Rule in life: Treat others as you want to be treated. But, did you know that there’s also a golden rule for accounting? In fact, there are three golden rules of accounting. And no … one of them is not treating your accounts the way you want to […]

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]]> https://www.patriotsoftware.com/blog/accounting/what-is-correcting-entries-journal-examples/ Fri, 04 Nov 2022 17:50:00 +0000 https://pslohio.wpengine.com/uncategorized/what-is-correcting-entries-journal-examples/ Even with automation and easy-to-use accounting tools, bookkeeping mistakes can happen. Journal entry errors can end up costing your small business time and money. Learn how to get your books back on track with correcting entries. What is a correcting entry? A correcting entry in accounting fixes a mistake posted in your books. For example, […]

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]]> https://www.patriotsoftware.com/blog/accounting/petty-cash-accounting-journal-entries/ Thu, 03 Nov 2022 20:59:27 +0000 https://pslohio.wpengine.com/uncategorized/petty-cash-accounting-journal-entries/ Thinking about providing petty cash to employees? Before establishing a petty cash fund at your small business, be prepared to create a petty cash accounting system. You must record petty cash transactions, even if you think they’re too low to matter. Without a petty cash system, using small cash amounts periodically can add up to […]

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]]> https://www.patriotsoftware.com/blog/accounting/accounting-for-intangible-assets-amortization-useful-life/ Thu, 03 Nov 2022 17:33:00 +0000 https://pslohio.wpengine.com/uncategorized/accounting-for-intangible-assets-amortization-useful-life/ When you own and operate a small business, you build up a collection of tangible and intangible assets. Tangible assets include valuable things you can touch, like your business’s building, vehicles, equipment, furniture, etc. Intangible assets are the opposite—they are not physical items. As a result, accounting for intangible assets can get tricky. Before learning […]

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]]> https://www.patriotsoftware.com/blog/accounting/credit-card-chargeback-fraud-process-prevention/ Thu, 03 Nov 2022 17:02:00 +0000 https://pslohio.wpengine.com/uncategorized/credit-card-chargeback-fraud-process-prevention/ Without sales, your business’s bottom line would be in the negatives. But if a customer issues a chargeback after you make a sale, you might have to pay up. And sometimes, customers falsely make a chargeback claim. Chargeback fraud is a hassle nobody wants to deal with, but it could happen when you own an […]

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]]> https://www.patriotsoftware.com/blog/accounting/tangible-assets/ Wed, 02 Nov 2022 19:09:29 +0000 https://pslohio.wpengine.com/uncategorized/tangible-assets/ Business assets are items of value that significantly contribute to your small business net worth. You need to properly calculate, take care of, and record your business’s tangible assets. Learn about tangible assets below. What are tangible assets? Tangible assets are physical items of value that you can see and feel. Tangible assets include land, […]

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