The budgets for employee salary increases have grown by an average of 4.4% in 2023, the highest increase in more than two decades. Tune in to this episode to learn how this increase could impact your business.
In this episode, we are discussing the essential elements of the general ledger and the trial balance. From the comprehensive record-keeping in the general ledger to the crucial role of the trial balance in ensuring accuracy and balance in financial statements, we explore how these concepts are pivotal in maintaining financial health for businesses.
Contra accounts are an essential concept in accounting, primarily used to record and represent the true financial state of a business. In this episode, we will cover what contra accounts are, how to use them, and discuss some common examples.
Let’s discuss a crucial decision for business owners: how to choose between S-Corporations, C-Corporations, and Limited Liability Companies (LLCs). If you are starting a new business and you’ve been wondering which business structure is right for your new company, this episode is for you!
In this episode, we discuss the crucial aspects of setting up your company’s chart of accounts. We explore the fundamental principles and best practices that lay the foundation for an organized and efficient financial system. From categorizing income and expenses to creating meaningful account codes, this episode provides invaluable guidance for both newcomers and seasoned […]
Today we’re diving into a subject that every solopreneur needs to know about – common tax write-offs. Whether you’re just starting your business or you’ve been self-employed for a while, understanding tax deductions is crucial for optimizing your finances. Today, we’ll explore the world of tax write-offs specifically tailored to all of you solopreneurs out […]
Today we’re exploring the choice between cash basis and accrual basis accounting. We’ll talk about the differences between the two methods, how you choose between the two, and what the legal requirements are for each method. This is a decision that can significantly impact your financial reporting and tax obligations, so it’s important to understand […]
In this episode, we’ll be diving deep into the world of travel expense approval and reimbursement, exploring three powerful strategies to accelerate the process.
In this episode, we’ll explore a pressing issue that’s impacting businesses of all sizes—the shortage of skilled accountants. More specifically, we’ll focus on how this shortage is hitting small businesses even harder and how a solution like outsourced finance departments, such as Accountable Numbers, can help alleviate the problem.
In this episode, we will explore the consequences of making serious errors on your tax returns.
