Archive for 'Accounting'
Heed Tougher 403(b) Plan Rules
February 19th, 2009. Published under Auditing. No Comments.
The IRS recently issued final regulations that are significant for not-for-profit organizations with 403(b) retirement plans (also called “tax sheltered annuities”.)
Essentially, not-for-profits will have to comply with many of the same reporting and auditing requirements that apply to businesses that operate 401(k) plans.
Be prepared. The new regulations are generally effective for tax years beginning after […]
Importance of Accessing Your Business Needs Before Getting A Customized Accounting Software
February 7th, 2009. Published under Accounting. No Comments.
Not every company needs a customized accounting software for their operations. For small and medium enterprises, you will not be using most features of a customized accounting software which does make any business sense for you to buy it. An off-the-shelf accounting software will be good enough for small medium enterprises.
Therefore, before you purchase […]
Accounting Software - Things To Consider Before Getting Accounting Software
February 7th, 2009. Published under Accounting. No Comments.
Accounting software is something that businesses will need at some point of time. This is because good accounting software can help track important areas in a company like costs, sales, and payroll. When your company grows, these tasks will be too tedious for you to do it manually. This is when accounting software comes in […]
Starting a Small Business in Tough Times
February 6th, 2009. Published under Bookkeeping. No Comments.
As lenders tighten their credit restrictions, entrepreneurs are frustrated that traditional sources of small business funding are disappearing. Money is still out there but it requires more than just consulting with bookkeeping services to prepare a quick business plan and applying for a loan at your local bank. Business owners need to find funding designed […]
Accounting Basic: What is the Accounting Cycle?
February 5th, 2009. Published under Accounting. No Comments.
The accounting cycle is the series of steps that take place in order for financial statements to be accurately and uniformly produced at the end of an accounting period which is typically the length of one month, quarter of a year, or a whole year. Below is a list of the steps you would […]
Accounting Basic: What is Accounting?
February 5th, 2009. Published under Accounting. No Comments.
Accounting is the use of a system of terms, formulas, and other record-keeping devices that allows businesses to calculate, track, and compare their financial growth, or recession in some cases. The basic concept of accounting, the accounting equation, involves recording and calculating assets of the business, liabilities, and equity. That way, financial status of the […]
Small Business Accountants - Do They Have More Than One Role in Your Small Business?
February 5th, 2009. Published under Accounting. No Comments.
For small businesses the roles of their business accountants depend, more often than not, on the size of their company. In the case of a very small company, the small business accountant may handle everything: payroll, internal auditing, taxes, keeping the books up to date, etc. In the case of a larger company these […]