Tue, 25 Jul 2023 13:34:31 +0000 en-US hourly 1 https://wordpress.org/?v=6.2.2 https://www.patriotsoftware.com/wp-content/uploads/2020/01/cropped-site-favicon-32x32.png 32 32 https://www.patriotsoftware.com/blog/accounting/business-receipts-taxes/ Thu, 09 Feb 2023 16:52:49 +0000 https://www.patriotsoftware.com/?p=61468 Tax season might be once a year, but preparing for tax season is a year-round process. To back up your tax deduction claims, you need to keep business receipts. But, what kind of receipts for taxes do you need? And which small business receipts can you pitch?  Read on to learn about types of business […]

Read More

]]> https://www.patriotsoftware.com/blog/accounting/common-irs-audit-triggers/ Thu, 05 Jan 2023 18:15:15 +0000 https://www.patriotsoftware.com/?p=60891 You have a lot to deal with to keep your company operating. One thing you don’t want to have to handle? An IRS audit. While some audits happen randomly, others trigger from red flags in your records. What are these IRS audit triggers, you ask? There are common red flags that could trigger an audit, […]

Read More

]]> https://www.patriotsoftware.com/blog/accounting/simple-recordkeeping-small-business/ Thu, 22 Dec 2022 15:42:12 +0000 https://www.patriotsoftware.com/?p=60657 For 40% of small business owners, handling bookkeeping and taxes is the worst part of owning a business. Sound familiar? If so, you might consider shirking your recordkeeping responsibilities. It’s not a big deal, right? Wrong! Recordkeeping is one of the most important things you can do. And to make things easier on yourself, there […]

Read More

]]> https://www.patriotsoftware.com/blog/accounting/how-to-find-accounting-errors/ Thu, 17 Nov 2022 14:05:00 +0000 https://www.patriotsoftware.com/?p=49217 Accounting errors are inevitable, especially if you’re rushing to add information into your small business accounting books. To detect accounting errors sooner rather than later, learn which ones to keep an eye out for and how to find them in the first place. 5 Types of accounting errors Some accounting mistakes are small, while others […]

Read More

]]> https://www.patriotsoftware.com/blog/accounting/small-business-recordkeeping-seasonal/ Wed, 09 Nov 2022 20:00:58 +0000 https://pslohio.wpengine.com/uncategorized/small-business-recordkeeping-seasonal/ All companies need to record business activities to avoid an IRS tax notice or penalties, and to track progress. But, do seasonal companies have the same rules for small business recordkeeping as year-round companies? What records do seasonal businesses need to keep? You need to track accounting, file government forms, and pay taxes. Seasonal businesses must […]

Read More

]]> https://www.patriotsoftware.com/blog/accounting/5-ways-to-organize-your-small-business-finances/ Wed, 09 Nov 2022 16:37:00 +0000 https://pslohio.wpengine.com/uncategorized/5-ways-to-organize-your-small-business-finances/ The lifeblood of any business — large or small — is financial integrity. Efficiently managing your small business accounting can help determine your success. If you don’t know where to start, consider leveraging accounting software. By getting your finances in order, you will save a lot of hours, headaches, and dollars. Getting your books organized takes […]

Read More

]]> https://www.patriotsoftware.com/blog/accounting/bookkeeping-vs-accounting-difference/ Wed, 09 Nov 2022 16:24:00 +0000 https://pslohio.wpengine.com/uncategorized/bookkeeping-vs-accounting-difference/ As a small business owner, paying close attention to your finances is vital to the survival and growth of your company. You can handle much of your accounting program on your own with some time and resources. But when you look at your books and feel lost, it might be time to call an expert. […]

Read More

]]> https://www.patriotsoftware.com/blog/accounting/what-are-intangible-assets/ Wed, 09 Nov 2022 14:56:00 +0000 https://pslohio.wpengine.com/uncategorized/what-are-intangible-assets/ If you’re like many small businesses, you account for company assets that you can see and touch. But, what about the items of value that aren’t physical? You may be undervaluing your business by forgetting your intangible assets. What are intangible assets? What are intangible assets? Intangible assets cannot be touched. While intangible assets do […]

Read More

]]> https://www.patriotsoftware.com/blog/accounting/outstanding-deposit-basics-small-business/ Tue, 08 Nov 2022 21:15:00 +0000 https://pslohio.wpengine.com/uncategorized/outstanding-deposit-basics-small-business/ To keep your small business’s finances on track, reconcile your books and bank account statement. Sometimes, transactions are only recorded in one financial record when you reconcile the balances. If your books and bank account balances don’t match, you might have an outstanding deposit. What is an outstanding deposit? An outstanding deposit is a receipt […]

Read More

]]> https://www.patriotsoftware.com/blog/accounting/what-is-amortization-expense-definition-journal-entry-example/ Fri, 04 Nov 2022 19:49:00 +0000 https://pslohio.wpengine.com/uncategorized/what-is-amortization-expense-definition-journal-entry-example/ To protect your business and operate under the law, you might obtain licenses, trademarks, patents, and other intangible assets. These items can be costly to a small business. You can use amortization to reduce your taxable income throughout the life of intangible assets. What is amortization? Amortization definition: In accounting, the amortization of intangible assets […]

Read More

]]>