How to Set Up Your Accounting Books for the First Time - Patriot Software
Setting up your accounting books is key to business success.| Patriot Software
Setting up your accounting books is key to business success.| Patriot Software
To run your business, you need a taxpayer identification number. So, what is a taxpayer identification number?| Patriot Software
Need an all-in-one resource detailing 1099 state filing guidelines? Download our free guide for state-by-state requirements on both Forms 1099-NEC and 1099-MISC.| Patriot Software
Learn what is state income tax, which states have it, types of tax rates, and more. Plus, check out the state income tax chart.| Patriot Software
Did you hire independent contractors to work for you this year? If so, you need to use Form 1099-MISC. So, what is Form 1099-MISC?| Patriot Software
If you pay contractors nonemployee compensation, you must learn how to fill out a 1099-NEC form. Use this guide to get started.| Patriot Software
A profit and loss statement summarizes revenue and expenses over a specific time. Learn how to create a profit and loss statement here.| Patriot Software
Typically, employers get to choose whether they want to offer types of paid time off, like sick leave, to employees. But depending on your business location, you might not have a choice. Little by little, paid sick leave laws by state are on the rise. If your employees work in a state with mandatory sick […]Read More| Patriot Software
Set up your chart of accounts with an IRS-ready COA template. Organize your COA so your books match tax forms to make filing easier.| Patriot Software
Check out the latest payroll tips, training, and news right here with Patriot Software’s Payroll Blog for small business.| Patriot Software
Some employers might be eligible to provide a Qualified Small Employer Health Reimbursement Arrangement (QSEHRA). Do you qualify?| Patriot Software
Employers of all sizes can reimburse employees for the cost of their health insurance coverage with an ICHRA.| Patriot Software
Excepted benefits are types of coverage that are typically not included in a traditional health insurance plan. Learn more here.| Patriot Software
Taking time off work is possible, even if you're an accountant. Use these five tips to get started and enjoy time away from your firm.| Patriot Software
Want to expand your client base? Learn how to get more clients for your accounting firm with these eight tips.| Patriot Software
The Patriot Software 2025 State Startup Index ranks all 50 U.S. states for business-friendliness. Discover the best states here.| Patriot Software
Find out how to pay yourself from your business. Learn how to determine pay and how business structures affect wages.| Patriot Software
Get a snapshot of your financial health with a variety of accounting reports, including the general ledger. Track income, expenses, invoices, and more.| Patriot Software
You can use cash-basis accounting to record your books. What is cash-basis accounting? Learn about this simple accounting method here.| Patriot Software
Modified cash-basis accounting is a mixture between cash-basis and accrual accounting. Learn about modified cash-basis and how it can benefit your business.| Patriot Software
Learn more about fixed and current assets, examples of fixed assets vs. current assets, and recording assets on your balance sheet.| Patriot Software
Is accrual or cash-basis accounting better for your business? Learn the ins and outs of accrual vs. cash basis accounting here.| Patriot Software
State-mandated retirement plans require eligible employers to enroll employees in a state-sponsored program or offer another retirement plan.| Patriot Software
Thanks to the SECURE Act, eligible small businesses that offer retirement plans to their employees may be able to claim 401(k) tax credits.| Patriot Software
Read our reviews from thousands of businesses who trust our accounting and payroll software. Find out how our solutions saved them time and money!| Patriot Software
Check out the latest accountant professional tips to help you grow your firm, right here on Patriot Software's blog for accountants.| Patriot Software
In 2024, the median pay for accountants and auditors was $81,680 annually. But the highest 10% of accountants earn over $141,420. And if you’re like most hard-working accounting professionals, you may wonder how to make more money as an accountant. To make more money, you need to amp up your income. And as we all […]Read More| Patriot Software
In July 2025, the government passed a massive bill (“The One Big Beautiful Bill”). The bill made sweeping changes like no tax on overtime and no tax on tips. It also established “Trump Accounts” for children. So what is a Trump Account, and what does it have to do with employers? What are “Trump Accounts?” […]Read More| Patriot Software
Software can make payroll, and your life, much easier. But, choosing a payroll system can be overwhelming. And as a savvy business owner, you want to find the best payroll software for a small business. You can look at small business payroll software reviews to help you choose. Read on to learn about the best […]Read More| Patriot Software
As an employer, you have different options to choose from when it comes to paying employees. One option you have is to print payroll checks. Printing payroll checks comes with a few decisions, like purchasing supplies and selecting a check layout. Learn what steps you need to take to get your employees’ wages from computer […]Read More| Patriot Software
“Do you handle payroll too?” It might be time to say yes if your clients have asked this question. And here’s the best part: offering payroll services provides a new revenue stream with minimal effort, thanks to cloud-based payroll systems. Payroll services calculate payroll taxes, handle tax filings and deposits, and streamline benefits management with […]Read More| Patriot Software
A PTIN is a taxpayer identification number that paid tax preparers need to file clients' federal tax returns. Learn how to get a PTIN.| Patriot Software
Setting a fair and competitive price for accounting services is key to sourcing and retaining clients. So, how much do accountants charge?| 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
How to find your margin, markup, and more. | 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
Check out the latest accounting tips, training, and news right here with Patriot Software’s Accounting Blog for business.| 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
Patriot Software’s accounting, payroll, and press release blogs provide news and tips, and explains payroll and accounting topics for small business owners.| 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
Patriot Accounting software customers using Stripe for payment processing on their customer invoices can view Stripe FAQs.| Patriot Software
Patriot Software accounting customers can read this helpful article for guidelines on how they can manage imported bank transactions. Click to learn more!| Patriot Software
Affordable accounting and payroll software for small business owners in the USA.| 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
If you struggle to collect receivables, it may be time to hire a collection agency. You can get paid and back to running your business.| Patriot Software
Do you include an allowance for doubtful accounts, or bad debt reserve, in your recordkeeping? Here are facts about ADA, examples, and more.| Patriot Software
If you want to keep accurate books, you need to be familiar with the types of accounts in accounting (and their sub-accounts).| Patriot Software
Are you new to tracking, reviewing, and reporting your business's finances? Find out how to set up accounting books for small business here.| Patriot Software
Do you think your books need double-checked? Double-entry accounting requires you to use at least two accounts to record each transaction.| Patriot Software
Slips and falls, cuts, and other injuries happen in the workplace. Learn how to prepare for and respond to a workplace injury here.| Patriot Software
PPE in the workplace is required clothing or gear that employees wear to decrease their chances of injury or illness in the workplace.| Patriot Software
Washington Saves is a state-sponsored retirement program for employees in Washington. Learn about the Washington retirement mandate here.| Patriot Software
Straight-time pay is the standard rate an employee earns for each hour worked, typically up to a maximum of 40 hours per workweek.| 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 employees work multiple positions with different pay rates. If they work overtime, employers must calculate the weighted overtime.| Patriot Software
Do you have an employee who works a fluctuating workweek? If so, you might be able to use the fluctuating workweek overtime method.| Patriot Software
Do you know how well your business uses incoming money? Learn how to calculate profit margin to see how effective your processes are.| Patriot Software
Learn about Michigan's paid sick leave law, including eligibility, accrual, and employee rights. Understand your responsibilities here.| Patriot Software
Patriot Software announces employee self-onboarding, available for all payroll customers who use Patriot Software to pay employees.| Patriot Software
As your business grows, so do the complications of payroll management. Learn why you need a flexible payroll service to grow with you now!| Patriot Software
Nonemployee compensation is the money you pay to independent contractors. Learn how to classify workers and report nonemployee compensation.| Patriot Software
Find out what is backup withholding, who is subject to it, who is exempt, and what business owners need to do.| Patriot Software
Business owners that report nonemployee compensation must use the revived Form 1099-NEC. Learn about your Form 1099-NEC responsibilities.| 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 difference between an HRA (health reimbursement arrangement) and an HSA (health savings account)? Find out here.| Patriot Software
Look at gross and net income to determine your business's profitability. But what is the difference between net income vs. gross income?| Patriot Software
An early payment discount is a price cut customers can receive if they pay for purchases before the due date. Learn more here.| Patriot Software
One accounting method you can use is accrual accounting. Learn what is accrual accounting and if it's a good fit for your business.| Patriot Software
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
