Business Accounting

How Long Should You Keep Business Records?

Often swamped with paperwork, many entrepreneurs wonder how long you should keep business records.

Which Type of Business Entity Needs an Employer Identification Number (EIN)?

The purpose of an employer identification number (EIN), also known as a taxpayer i.d. number, or TIN, is to allow the IRS to track wages and other pay...

Choosing the Right Business Record-Keeping System

Cash vs. Accrual Accounting

The cash method and the accrual method of accounting differ in the timing of when transactions are credited or debited. The accrual method counts inc...

Bookkeeping and Accounting Basics

Many new business owners are daunted by the mere idea of bookkeeping and accounting. But in reality, both are pretty simple. Keep in mind that bookkee...

Accounting Terms Every Businessperson Should Know

A big part of understanding the financial side of your business consists of nothing more than learning the language of accounting.