Category Archives: Accounting
What is a Chart of Accounts?
As small businesses we each have different needs. The accounting systems we choose may be different, the specific reports we use to make decisions may be different, even how often we do our accounting may be different. But at the … read full post
Putting a value on a small business
As a business owner, being able to tell just how much your business is worth comes in handy. The most obvious case is if you want to sell your business — after all, you have to know how much you … read full post
What is Bad Debt?
Bad Debt When it comes to running a business we know by now it isn’t all fun and games (unless you are one of those lucky video game testers…than maybe it IS all fun and games!). Invoicing and receiving payments … read full post
What are Accounts Payable?
Most entrepreneurs create accounts payable (AP) in the normal course of operating their business. Working with vendors that offer you credit in the form of accounts payable, can be a great way to manage the cash flow of your business. read full post
The 7 Characteristics of the Best CPAs
Having a CPA can make a world of difference in how your business grows — assuming you have the right accountant working with you. If you’re still in the searching phase, looking for the right numbers guy or gal to … read full post
How to Account for Store Refunds in Outright
Today’s Outright Guest Post is brought to you by friend of Outright George Sleeman, known in the Outright Community as Tax Man to You. Lately on the Outright Community we’ve been seeing an increase in questions about how to deal … read full post
Cash v. Accrual Accounting: An Overview
The accounting system you use for your business is greatly personal. The software, the tracking and the frequency can (and should!) all be adjusted and tweaked to work for you and your business. Another choice that must be made when … read full post
How does Depreciation Work?
Depreciation is one of those ‘off the wall’ accounting concepts. It is useful to your business, but many business owners don’t know what it means or how to account for it. Let’s take a good look at what depreciation is … read full post