Our Articles Blog

Invoicing Best Practices Your Complete Guide to Professional Billing  Effective invoicing is the backbone of healthy business cash flow. Whether you're a freelancer, small business owner, or managing accounts for a larger organization, implementing proper invoicing...

Accounts Receivable Management Best Practices Get Paid Faster and Improve Your Cash Flow Effective accounts receivable management separates thriving businesses from those drowning in unpaid invoices like swimmers without life jackets. Poor accounts receivable...

Protecting Your Financial Data Essential Security Best Practices for Small Business Accounting and Bookkeeping  Small businesses handle sensitive financial information daily, from customer payment details to proprietary business records. A single data breach can...

Small Business Accounting Software Feature Comparison GuideCore Bookkeeping Features Income & Expense Tracking Invoice Creation & Management: Customizable templates, recurring invoices, payment tracking Bill Management: Vendor bill entry, payment scheduling,...

Best Bookkeeping Software for Small BusinessFind Your Perfect Digital Financial AssistantChoosing the right bookkeeping software for small business can feel like dating in your 40s – lots of options, but most disappoint you before dessert arrives. The perfect...

Home Office Deduction Calculator The Ultimate Guide to Not Overpaying Uncle Sam  Welcome to the wild world of home office deductions, where your spare bedroom can suddenly become a tax-saving goldmine, and your monthly utility bills transform from budget-busting...

The Business Traveler's Guide to Not Getting Audited(While Getting Every Penny Back)  Picture this: You're sitting in a cramped airplane seat, eating a $17 airport sandwich that tastes like cardboard seasoned with regret, when suddenly it hits you—this terrible meal...

The Ultimate Expense Categorization Guide for Small Business Stop Playing Accounting Roulette With Your Business Expenses Introduction Creating an effective expense categorization guide is like organizing your sock drawer – everyone knows they should do it, but most...

Small Business Bookkeeping MistakesAnd how to avoid themSmall business bookkeeping mistakes can turn your entrepreneurial dreams into financial nightmares faster than you can say "tax audit." Every year, countless business owners discover that their small business...

Why Your Bookkeeper Is More Important Than Your Best Friend (And Less Likely to Judge Your Spending) Small business bookkeeping mistakes can turn your entrepreneurial dreams into financial nightmares faster than you can say "tax audit." Every year, countless business...

Scaling Isn’t Just About Sales It’s About Systems You sold more this year than ever before. Great! But if your back office is duct-taped together with manual spreadsheets, scaling could crush you. What scaling really means: More clients = more complexity More...

Why Your Business Needs a CFO —Even If It’s Fractional You might not be able to afford a full-time CFO, but you absolutely need someone thinking like one. That’s where a fractional CFO comes in—part-time strategy, full-time impact. What they do: Strategic planning...

Profit First Paying Yourself Doesn’t Make You Greedy Some business owners think they have to wait until “the business makes more” to pay themselves. Others pay themselves last. Both are wrong. Enter: Profit First. What is it?A cash management method created by Mike...

Your Business Isn’t a Hobby (Even If You’re Having Fun) Sure, you love what you do—but if you’re not treating it like a real business, the IRS might not either. Plus, it’s hard to scale something you treat like a side project. What separates a business from a hobby?...

The Art of Chasing Invoices Without Losing Your Dignity No one likes chasing money. But if you do it right, you can collect what’s owed without turning into a villain in a soap opera. Your 3-step chase plan: Friendly Reminder: 3–5 days after due date Firm Follow-Up:...

Deposits, Prepayments, and Retainers —Oh My!Taking money upfront isn’t greedy—it’s just good business. Whether you’re a photographer or a consultant, deposits and retainers protect your time and sanity. Benefits of upfront payments: Better cash flow Fewer last-minute...

Clients Who Don’t Pay Strategies That Won’t Land You in Jail Let’s be real—chasing late payments is like trying to herd cats. But you don’t need to threaten, bribe, or sob (well, maybe a little sobbing). What to do: Set expectations early with clear contracts and...

Why Your Invoices Are Being Ignored (and How to Fix Them) You sent the invoice. You waited. You heard nothing. Are your clients rude, or is your invoice a digital black hole? Common invoice mistakes: No due date Confusing layout or vague services No payment link or...

Data Backups and Accounting Because “Oops” Isn’t a Strategy Picture this: It’s tax season. You open your laptop to pull a year’s worth of records. Then—nothing. Your hard drive died. Your receipts? Gone. Your accountant? Hyperventilating. Why backups matter: Prevent...

Tech Stack for Accounting: What You Really Need (and What’s Just Fancy Noise) Let’s face it—shiny apps are fun. But when it comes to your accounting tech stack, less is more. You need a system that works together, not a collection of disconnected tools throwing data...

Is Your Accounting Software a Dinosaur?Signs You Need to Upgrade Still using a spreadsheet from 2013 named “Final_Budget_v10_FIXED”? You might need a software upgrade. Modern accounting tools can save you time, money, and your last shred of sanity. Signs your software...

AI in Accounting Should You Trust a Robot With Your Books? We’re not saying a robot is coming for your job... but it might be better at reconciling accounts than your intern. AI in accounting is here—and it’s not going anywhere. Where AI shines: Auto-categorizing...

Forecasting Isn’t Fortune Telling (But It’s Close) Wouldn’t it be nice to know if you can afford to hire, expand, or finally splurge on that office espresso machine? That’s where financial forecasting comes in. It’s not magic—it’s math, with a dash of hope. Why...

The Ugly Truth About Unreconciled Accounts (and How to Fix Them) You know that feeling when you ignore your bank statement for three months and just hope everything is fine? Yeah—your accounting software feels that too. Unreconciled accounts are ticking time bombs. If...

Why You Need a Financial Dashboard (and Not Just Because It Looks Cool)If spreadsheets give you hives, a financial dashboard might just be your new best friend. It's like Instagram, but for your business finances—pretty charts, key numbers, and no political arguments....

KPIs for Small Business Owners Stop Guessing, Start Measuring Running your business without tracking key performance indicators (KPIs) is like flying a plane with your eyes closed and hoping for the best. Sure, you might land safely, but odds are you’ll crash...

S-Corp Salary Rules Pay Yourself, But Not Like a Game Show Host Electing S-corp status for your LLC can be a tax-saving move. But with great savings comes great responsibility—mainly paying yourself a “reasonable salary.” That’s IRS-speak for: Don’t try to get cute....

Mileage Tracking for Tax Deductions Yes, Even for Taco Runs (Maybe) If you use your vehicle for business, you may be driving right past deductions every day—literally. Mileage tracking is one of the simplest ways to reduce your tax bill, but only if you do it right....

Quarterly Taxes Like a Root Canal, But You Can Prepare for It Ah, quarterly estimated taxes—the recurring nightmare of freelancers and business owners. Miss them and the IRS treats you like someone who skipped grandma’s birthday. Repeatedly. Who has to pay quarterly...

Business Deductions You Didn’t Know You Could Take (And a Few You Absolutely Can’t)Tax time can feel like trying to solve a riddle written by an evil wizard with a calculator. But knowing what deductions you can (and can’t) take turns that riddle into a roadmap—one...

Receipts vs. Regret Why Documentation Is Your Real Best Friend Receipts: tiny pieces of paper that hold the power to save you thousands or ruin your tax season. Lose them, and you lose your deduction. Keep them, and you gain peace of mind (and maybe some extra money...

Spotting Financial Fraud Before It Wears a Mustache and Disappears Financial fraud doesn’t always wear a black ski mask. Sometimes it wears khakis and refills the coffee. Whether it’s internal theft or external scams, fraud costs businesses billions. But with a few...

How Automation Saved My Sanity (and Thousands in Bookkeeping Costs) Once upon a time, I manually entered every invoice, expense, and receipt. My hands hurt. My soul withered. Then I discovered automation, and suddenly, I was not crying on the first of every month....

Payroll Pitfalls Funny Fails and How Not to Be One of Them Let’s talk payroll—because if you think it’s as easy as writing a check and calling it a day, you may also believe unicorns do your taxes. Payroll mistakes are some of the most common (and hilarious, if you’re...

Reconciling Bank Accounts The Adulting Skill You Didn’t Know You Needed Let’s talk about the sexiest part of accounting: reconciliation. (Kidding. Unless your idea of fun is cross-referencing Excel with bank statements while sobbing into your spreadsheet.) Bank...

Mixing Business and Personal ExpensesHow Mixing Business and Personal Expenses Turns You Into a Tax-Time Tragedy“Look, it’s all my money anyway,” you say, buying a $7 latte with your business card while also paying your Netflix bill with your “company” debit. Yes,...

Chart of Accounts Not a Treasure Map, But Close “Chart of accounts” sounds like something that belongs in a fantasy novel (“Sir Ledger, take this sacred chart!”), but in the business world, it’s your financial command center. Here’s what it is: a list of categories...

Why Your Business Needs an Accountant Before You Even Make a Sale Let’s set the scene: You’ve got a big dream, a killer business idea, and maybe even a domain name. You’re ready to take over the world—or at least your niche market. But hang on. Before you sell a...

Building an Accounting System That Doesn’t Make You Cry at 2 AM You don’t need a fancy finance team to get organized—you just need a system that works and doesn’t involve 87 spreadsheets named “final_final_THISONE3.xlsx.” Start with: Accounting software: Get something...

Use a Payroll Calendar It Can Save You Thousands in Fees Missing payroll deadlines is costly for businesses. In addition to late fees, you might face penalties from the IRS. By using a payroll calendar, you can streamline your payroll process and avoid these fines. A...

Payroll or Contractor? Misclassification Can Cost You Big Classifying your workers properly as employees or contractors is essential for avoiding costly penalties. The IRS is strict about worker classification, and misclassifying a worker can lead to significant...

Watch out for fraud scams Preventing Small Business Fraud Starts With Your Books Internal fraud is a significant issue for many small businesses, but you can take proactive steps to minimize your risk. When you outsource your bookkeeping or implement a clear process...

Outsourcing Bookkeeping Isn’t Just Cheaper — It’s Smarter Outsourcing your bookkeeping is often pitched as a way to save time and reduce costs. But beneath the surface are deeper strategic benefits that can transform how your business operates. 1. Fraud Detection: A...

Missing Receipts? Here’s What the IRS Accepts Tracking receipts is essential for keeping accurate records, especially when claiming deductions. But what if you lose a receipt? Don’t panic. The IRS allows alternatives, though it’s important to keep these records as...

1099 vs W-2Classifying Workers the Right WayOne of the most common mistakes small business owners make is misclassifying their workers. The IRS distinguishes between employees (who receive a W-2) and independent contractors (who receive a 1099). Misclassifying...

LLCs and EINsDo You Need One for Each Entity?Setting up an LLC (Limited Liability Company) offers many advantages, including personal liability protection and tax flexibility. However, if you’re running multiple businesses, it’s important to understand when you need a...

What Counts as a Business Expense?Avoid These Common MistakesUnderstanding what qualifies as a business expense is essential to maintaining clean records and maximizing your tax deductions. In the eyes of the IRS, a business expense is one that is “ordinary and...

The Secret to Surviving an IRS Audit?Your Bookkeeper.An IRS audit isn’t always triggered by wrongdoing—but poor records make it far more painful. A detail-oriented bookkeeper is your first line of defense. What auditors look for: Categorized expenses with supporting...

Cloud Accounting Isn’t Just TrendyHere’s What Most Firms MissCloud platforms like QuickBooks Online, Xero, and FreshBooks have become the norm, but most businesses only scratch the surface of their capabilities. Underused features: Bank Rules: Automate recurring...

Owner Draws and Loans The Misunderstood Tax Risk for Small Business Owners Small business owners often treat company funds as their personal piggy bank, but failing to document draws or loans properly can lead to IRS issues. What to watch for: Taking money without...

Drive Business GrowthHow to Use Your Chart of Accounts to Drive Business GrowthThe chart of accounts (COA) is often treated as a basic accounting tool—but when structured well, it becomes a growth engine. Tips to optimize your COA: Segment Revenue Streams: Break down...

Beware of sales tax The Sales Tax Mistake That Costs U.S. Businesses Thousands One of the biggest tax compliance traps for U.S. businesses is sales tax nexus. Selling online? Serving customers in other states? You may owe sales tax—even if you don’t have a physical...

Dormant LLCsThe Compliance Traps That Could Cost You BigThink your inactive LLC is off the hook? Think again. Many business owners assume that if an LLC isn’t operating, it doesn’t require any maintenance. That assumption can lead to fines and state penalties. Here’s...

Catty Shack Ranch Wildlife SanctuaryA night feeding tour of Catty Shack Ranch Wildlife Sanctuary.In fall of 2023, Bookkeeping and Accounting of FL went to a night feeding tour of Catty Shack Ranch Wildlife Sanctuary. Office staff had the added benefit of host Juliya...