Day-to-Day Accounting Articles

Are You an Employee or a Contractor?

You may ask what difference it makes if you are considered an employee or a contractor, as long as you get paid. The fact, is that it makes a big difference! If your employer is considering you a contractor improperly, you will pay far more taxes than if you were considered an employer. Learn how to identify which you should be and how to properly classify those that might work for you.
Learn If You Are an Employee or a Contractor

Cash Versus Accrual Accounting

When can you use a simple Cash Accounting method and when do you need to use the Accrual Accounting method?
Find Out if Cash or Accrual Accounting is Right For You

The Daily Cash Report

Especially important when you use the cash accounting method is the Daily Cash Report. Learn what it is and what its benefits are.
Learn About the Daily Cash Report

Year-End Closing (13th Month)

Learn what kinds of processes that you will need to perform to properly close out the year. Do you use a fiscal year or calendar year? Learn when each might be appropriate.
Learn More About the Process of Year-End Closing

Checking Your Work - The Internal Audit

Checking your own work internally before risking an external audit can uncover problems when they are the easiest to fix. The journals should be regularly audited to find problems and inconsistencies.
Checking Your Work - The Internal Audit