Owner's Equity: Subtracting Liabilities from Assets
How do you compute owner's equity in your small business? How does it relate to market value, assets, and liabilities?| Patriot Software
How do you compute owner's equity in your small business? How does it relate to market value, assets, and liabilities?| Patriot Software
Are your books balanced? What's the accounting equation and how does it help? Use the accounting equation to see the balance of your books.| Patriot Software
If you sell goods at your small business, understand the four stages in the product life cycle: development, growth, maturity, and decline.| Patriot Software
When it comes to your small business, do you know how to price a product for the most revenue? There are several strategies you can use to boost sales.| Patriot Software
A discount pricing strategy can help attract customers and increase sales. Learn about different discount pricing strategies.| Patriot Software
As a business owner, you might send invoices to customers or receive them from vendors from time to time. What is an invoice?| Patriot Software
What is an audit trail? Why is it important for my small business? Find out how an audit trail can help you prevent fraud and keep your books accurate.| Patriot Software
A transposition error occurs when someone reverses the order of two numbers (e.g., 81 vs. 18). Find out more about these easy-to-make errors.| Patriot Software
Keeping accounting records organized can be difficult. Learn how to organize business receipts with a few simple storage solutions.| Patriot Software
Separating business and personal funds helps you organize records and avoid overspending. Learn how to open a business bank account to get started.| Patriot Software
Bank statement reconciliation is the process of comparing your bank statement to your accounting books to see if they match. Learn more here.| Patriot Software
As a small business owner, you need an organized way to track your accounts. The small business general ledger can help you.| Patriot Software
The EBITDA equation is an important part of finding your company's profitability. Read here to learn more about what is EBITDA.| Patriot Software
Profit and profitability might sound similar, but they're different. To make financial decisions, understand profit vs. profitability.| Patriot Software
Is your small business using all of the accounting tools available? Check out six accounting tools for small businesses to consider.| Patriot Software
Net income helps you determine your business's profitability, plan budgets, and make decisions. Learn what net income is and how to calculate it here.| Patriot Software
One type of budget you may need for your business is an operating budget. So, what is an operating budget?| Patriot Software
What is an overhead cost? Your business needs overhead costs to run, but they can take over. Learn the types of overhead costs and more.| Patriot Software
Your business incurs expenses during daily operations, including selling, general, and administrative expense, or SG&A. What is SG&A expense?| Patriot Software
What is business net worth? We break down the asset and liability figures found on your balance sheet to determine your net worth.| Patriot Software
Your business balance sheet helps you organize your assets. But before you can begin accounting for them, you have to learn about assets. What are assets?| Patriot Software
From multi-level approval workflows to leveraging technology, learn how effective timesheet management can help your business.| Patriot Software
There are several ways businesses can learn how to survive a recession, such as cutting costs and focusing on relationships.| Patriot Software
Knowing margin vs. markup helps you price your products. Get the most out of your pricing strategies by understanding how to calculate both.| Patriot Software
If you have a great entrepreneurial idea, you need to know how to start a small business. Follow our steps and checklist to get going.| Patriot Software
Should you give your employees a salary or hourly wages? Learn about the laws, pros, and cons the affect salary vs. hourly employees.| Patriot Software
Do you know how to handle payroll for 3-paycheck months? Prepare ahead of time for months with extra payroll.| Patriot Software
A business emergency fund is money you set aside to cover unexpected expenses or financial emergencies. Learn how to build an emergency fund.| Patriot Software
What is considered working time and what isn't? Learn the FLSA hours worked definitions and find out when you must pay employees.| Patriot Software
If you pay employees for partial hours worked, you need to learn how to convert minutes for payroll and methods to track converted minutes.| Patriot Software
Starting an LLC in Ohio has liability protection, pass-through taxation, and reasonable tax rates. Learn how to start an LLC in Ohio here.| Patriot Software
Some businesses process payroll internally, while others outsource to a third party. Learn more about in-house payroll vs. outsourcing.| Patriot Software
What's the average age to start a business? Check out the average age of successful entrepreneurs and tips to start a business at any age.| Patriot Software for Small Business
As a small business owner, you need to keep track of the liabilities that your business is responsible for. What are liabilities?| Patriot Software
Businesses use strategic pricing strategies to increase customer traffic and maximize profits. Learn about seven strategies and more.| Patriot Software
Accounting errors can happen to anyone. To catch accounting mistakes as soon as possible, learn how to find accounting errors in your books.| Patriot Software
What's a profit and loss statement for small business and why is it important to you? Learn what a P&L statement includes and how to make one.| Patriot Software
Business owners can use a simple equation to find gross profit. Gross profit shows profitability and helps with decision-making.| Patriot Software
You need to know how to increase your business's bottom line to keep your business financially healthy. What is the bottom line in business?| Patriot Software
Operating costs fall into two categories: COGS and operating expenses. Learn the difference between cost of goods sold vs. operating expenses.| Patriot Software
Have you made some big purchases for your small business? You can use depreciation to spread the cost out over time.| Patriot Software
A cell phone reimbursement is an employee benefit where an employer covers work-related mobile phone expenses. Find out if it's taxable.| Patriot Software
At some point as an employer, you might decide changing payroll frequency is necessary. Learn how to do it here.| Patriot Software
Beginning July 1, 2025, all employers must provide Alaska paid sick leave (one hour per 30 hours worked). Learn more here.| Patriot Software
Knowing the average cost of living by state can help you set product or service prices, salaries, and budgets. Find out more here.| Patriot Software
Do you own a business in a service industry? Tip pooling can help make sure your tipped employees are paid equally for their work.| Patriot Software
How does a tip credit affect how you pay your tipped employees? Learn your tip credit requirements and what the current tip credit is.| Patriot Software
Federal income tax withholding is an important part of having employees. Learn more about how to calculate, withhold, and report income tax.| Patriot Software
Not sure which of your allowable business expenses might qualify for tax deductions? Check out this list of allowable expenses.| Patriot Software
You need to know how to prepare and use a business balance sheet for your company. So, what is a balance sheet?| Patriot Software
What is an income statement? Do I need one for my small business? Find out how income statements can help you control your financial health.| Patriot Software
If you own a small business, you need to know how to file a small business tax return. Learn more about filing a business tax return here.| Patriot Software
To keep your finances in order and stay on track, you need to learn about the four basic financial statements for small business.| Patriot Software
Learn how to get the cost of goods sold (COGS) with our guide. Discover the COGS formula, calculation steps, and how it impacts pricing.| Patriot Software
How do you get an Employer Identification Number (EIN) from the IRS? This article breaks down how to apply for EIN.| Patriot Software
You need three financial statements: balance sheet, income statement, and cash flow statement. What is a cash flow statement?| Patriot Software
Creating the articles of incorporation is a the first step a business takes when forming a new corporation. Here's an overview of the document.| Patriot Software
As a small business owner, there are accounting terms you should know, including net profit. What is net profit? Learn more here.| Patriot Software
You might wonder, "Do I need to open a business bank account?" Read on to learn which businesses need to, and why all should consider it.| Patriot Software
As a small business owner, you must know when your cash flow is negative. What is negative cash flow? Find out how to manage cash flow here.| Patriot Software
All business owners need to know about their company's cash flow. But, what is cash flow? Read our article for the scoop.| Patriot Software
What should employers know about workers' compensation insurance? Learn what benefits it provides workers, your state requirements, and more.| Patriot Software
As a business owner, you need to keep track of your company's financial statements. What is a financial statement? Find out here.| Patriot Software
Thinking about getting a business loan? First things first, you need to learn how to apply for a business loan with these seven steps.| Patriot Software
Need a way to build up business credit and simplify cash flow? Learn how to get a business credit card in a few simple steps.| Patriot Software
Employers use a lookback period to determine how frequently to deposit Social Security, Medicare, and federal income taxes.| Patriot Software
What are business expenses? Which business expenses are deductible? Keep your taxes as low as you can and boost your profit. Record your expenses!| Patriot Software
Do you need help planning future finances? Learn how to create a cash flow projection so your small business finances can be stress-free.| Patriot Software
Employers need to withhold payroll taxes from employee wages. So, what are payroll taxes, and how much are they?| Patriot Software
Pay frequency is how often you pay employees. Learn more about each type of frequency (e.g., biweekly) and how to choose.| Patriot Software
Knowing how to finance a small business can put your business idea into action. Take a look at these nine small business financing options.| Patriot Software
A business plan is essential for understanding your market and obtaining outside funding. Do you know how to write a business plan?| Patriot Software
A robust employee benefits package includes competitive, in-demand, and legally required benefits. Check out this article to get started.| Patriot Software
Some states require employers to have state disability insurance for their employees. Learn more about state disability insurance (SDI) here.| Patriot Software
Is it possible to streamline your HR processes to stay compliant with federal, state, and local regulations? Yes! Get started here.| Patriot Software
An employee handbook builder is a tool that guides you through creating, managing, and maintaining a federal- and state-compliant handbook.| Patriot Software
Many businesses track employee hours using an employee time clock. Learn what it is, common types of time clocks, and common pros and cons.| Patriot Software
Some salaried employees should earn overtime pay. Find out if you owe salaried employees for overtime hours and how to calculate their wages.| Patriot Software
Giving employees meal and rest breaks from work is beneficial. Find out which employee break laws you have to follow.| Patriot Software
Learn about holiday pay, how much to give workers, what to do if employees work or have time off, and how to create a holiday pay policy.| Patriot Software
Make sure you follow the FLSA timekeeping requirements. Learn about the FLSA rounding rules, what records you need to keep, and more.| Patriot Software
Learn what to know about the Fair Labor Standards Act (FLSA). Discover how it impacts your business and what can happen if you don't comply.| Patriot Software
You must follow FLSA rules on employee status. Learn the differences between exempt vs. nonexempt employees here.| Patriot Software
Exempt employees are not subject to overtime and minimum wage laws. So, what is an exempt employee? Find out here.| Patriot Software
Employers should retain complete and accurate timekeeping records, such as hours worked. Do you know how to track employee hours?| Patriot Software
Businesses need a budget to project revenue, expenses, and profits. Some companies use zero-based budgeting. What is zero-based budgeting?| Patriot Software
Learn how to conduct a market analysis if you're looking for a lender, or want a better understanding of your target customer.| Patriot Software
Companies can use business texting for customer service, internal communications, and more. Learn how to get started with business texting.| Patriot Software for Small Business
Mental health initiatives in the workplace may help employees combat stress, increase engagement, boost productivity, and more.| Patriot Software for Small Business
You must calculate hours worked to run payroll and pay your employees. Learn how to calculate hours worked with an easy-to-follow example.| Patriot Software
On November 15, a federal court voided the new overtime rule that was going to increase the FLSA salary threshold to $43,888 annually.| Patriot Software
Learn all about overtime. Explore legal requirements, state laws, overtime rates, & more, as defined by the Fair Labor Standards Act (FLSA).| Patriot Software
A pain point is a problem a customer is dealing with. Learn how to identify and handle customer pain points in your small business here.| Patriot Software for Small Business
Federal, state, and local governments can determine the minimum amount you can pay employees. Learn the answer to what is minimum wage here.| Patriot Software
You need to keep track of accounts payable in your accounting books. What is accounts payable? Get the scoop here.| Patriot Software
Understanding accounts receivable will help you know how much customers owe you. What is accounts receivable?| Patriot Software
Review the various types of business structures and factors you should consider when selecting your type of business structure.| Patriot Software
As a small business owner, you work with vendors to get the goods you need to run your company. Understand what is a vendor here.| Patriot Software
Do your employees earn tips? You may be able to pay them the federal or state tipped minimum wage. Learn federal and state rates here.| Patriot Software
If you own a business, you might have wondered, "What is a corporation?" Learn what a corporation is and how to establish one.| Patriot Software
