Business Accounting

Keeping your books in order is key to running a successful business. Learn how to do it right with tips on managing debt, tax obligations, and more.

What is retained earnings? How to calculate them
Retained earnings are the profits that remain in your business after all expenses have been paid and all distributions have been paid out to shareholders.
February 5, 2024 · 3 min read
What is gross profit?
Gross profit is a key profitability figure for a small business. It's calculated by subtracting cost of goods sold from sales revenue. Here's how you can use gross profit, and the gross profit margin, to measure your business' production efficiency.
February 5, 2024 · 3 min read
What is a profit and loss statement?
At its most basic, a profit and loss statement gives users information about a business's revenue, its expenses, and its net income.
February 5, 2024 · 3 min read
What is cost of goods sold and how to calculate it
Your cost of goods sold (COGS) consists of all the direct costs associated with producing your goods or services. Calculating costs of goods sold helps you determine the true cost of the merchandise or services you sell.
February 2, 2024 · 3 min read
Everything a CPA can do for your business besides tax prep
When business owners think about services CPAs can provide, preparing tax returns may be on the top of their lists. There are a number of other services CPAs offer that are relevant and can be very helpful.
February 2, 2024 · 3 min read
What are the codes in Form W2 Box 12?
Form W-2 can appear overwhelming, particularly Box 12 with its long list of technical codes. As an employer, it is up to you to furnish accurate information with the correct presentation. Start with an understanding of what the codes represent.
February 2, 2024 · 3 min read
What are your financial statements telling you?
Your small business's financial statements provide a wealth of relevant information for measuring your progress. Each one—balance sheet, income statement, cash flow statement, and statement of equity—provides another piece of your financial puzzle.
February 2, 2024 · 3 min read
What is a cash flow statement, and how do you make one?
A cash flow statement provides essential information for anyone seeking a snapshot of a company's financial footing. Here's how to understand and create one.
January 31, 2024 · 3 min read
Are you using your personal accounts for your business?
Whether you're freelancing from home or building a brick-and-mortar business, having a business bank account proves that your business is legitimate and not a hobby.
January 31, 2024 · 11 min read
Business basics: How to open an LLC bank account
Opening a bank account for your LLC is an important step for your business. Learn how to open an LLC bank account using our guide.
January 26, 2024 · 8 min read