Accounting Tips, Training, and News for Small Business Tue, 18 Oct 2022 16:46:52 +0000 en-US hourly 1 https://wordpress.org/?v=6.0.2 https://www.patriotsoftware.com/wp-content/uploads/2020/01/cropped-site-favicon-32x32.png Accounting Tips, Training, and News for Small Business 32 32 What Is a Point of Sale System, and How Can It Improve Your Day-to-day Operations? https://www.patriotsoftware.com/blog/accounting/what-is-point-of-sale-system/ Tue, 18 Oct 2022 16:46:00 +0000 https://pslohio.wpengine.com/uncategorized/what-is-point-of-sale-system/ alt=""According to one source, over 60% of small businesses don’t have a point of sale system in place. Does your business fall into 60%+? If so, your small company could be missing out on a smoother system and in-depth sales reports. If you want to grow your business, efficiently track sales, and streamline your day-to-day […]]]> Strategies and Formulas for Pricing Services at Your Small Business https://www.patriotsoftware.com/blog/accounting/how-pricing-services-strategies-models-formula/ Tue, 18 Oct 2022 16:20:00 +0000 https://pslohio.wpengine.com/uncategorized/how-pricing-services-strategies-models-formula/ alt=""Do you own a service business? If so, you know that figuring out how to price services isn’t always easy. To make sure your small business is profitable, try these tips for pricing services.  Why is pricing services so hard? Many service-based businesses struggle to come up with a fair and profitable pricing strategy. Unlike […]]]> What Is a Cash Reserve? https://www.patriotsoftware.com/blog/accounting/what-is-a-cash-reserve-fund/ Tue, 18 Oct 2022 16:06:00 +0000 https://pslohio.wpengine.com/uncategorized/what-is-a-cash-reserve-fund/ alt=""According to a recent study, 60% of Americans don’t have enough money to cover an unexpected $1,000 expense. What about your business? Do you have enough money tucked away to deal with a sudden expense? If not, you need to give your cash reserve some love. Cash reserves for business can help you cover larger, […]]]> Step up Your Accounting Game With a Compound Journal Entry https://www.patriotsoftware.com/blog/accounting/compound-journal-entry/ Tue, 18 Oct 2022 15:54:00 +0000 https://pslohio.wpengine.com/uncategorized/compound-journal-entry/ alt=""If you use a double-entry bookkeeping system, you know that every account you debit requires you to credit the corresponding account, and vice versa. But what happens when the transaction affects more than two accounts? It’s time to create a compound journal entry. A compound journal entry may sound fancy, but it’s actually a pretty […]]]> What Is an Independent Contractor? https://www.patriotsoftware.com/blog/accounting/what-is-an-independent-contractor/ Tue, 18 Oct 2022 15:18:00 +0000 https://pslohio.wpengine.com/uncategorized/what-is-an-independent-contractor/ alt=""As a business owner, you might need to hire a worker at some point or another. And depending on your type of business, you might need to hire employees, independent contractors, or both to get the job done. But, how much do you really know about independent contractors vs. employees? Can you get away with […]]]> Going the Freemium Pricing Route: What You Need to Know https://www.patriotsoftware.com/blog/accounting/freemium-pricing-what-is-it/ Tue, 18 Oct 2022 14:40:00 +0000 https://pslohio.wpengine.com/uncategorized/freemium-pricing-what-is-it/ alt=""When Goldilocks broke into the Three Bears’ home, she needed a bed that was just right—not too small and not too large. Likewise, when you break into the market, you need to set prices that are just right—not too low and not too high. Could freemium pricing be your “just right” strategy? So, what in […]]]> “Do You Have a Permit for That?” Business Licenses and Permits You Need to Stay Legal https://www.patriotsoftware.com/blog/accounting/business-licenses-permits/ Tue, 18 Oct 2022 14:31:00 +0000 https://pslohio.wpengine.com/uncategorized/business-licenses-permits/ alt=""If you want to operate your small company legally, you likely need some business licenses and permits. There are federal, state, and local licenses and permits you might have to apply for. It all depends on your business. So, do you know which types of business licenses and permits you need to keep things legal? […]]]> Welcome to Your Go-to G&A Expenses Guide https://www.patriotsoftware.com/blog/accounting/general-and-administrative-expenses/ Tue, 18 Oct 2022 12:05:00 +0000 https://www.patriotsoftware.com/?p=58045 alt=""Part of being a business owner is dealing with all kinds of expenses. One of the expenses you incur and manage are general and administrative (G&A) expenses. Never heard of G&A expenses? Need a brief refresher? Here’s the rundown on what is G&A and how it works in your business. What are G&A expenses? So, […]]]> One Isn’t Always the Loneliest Number. What Is a Disregarded Entity? https://www.patriotsoftware.com/blog/accounting/what-is-a-disregarded-entity/ Thu, 13 Oct 2022 20:21:18 +0000 https://pslohio.wpengine.com/uncategorized/what-is-a-disregarded-entity/ alt=""There are plenty of things to do before you open your new business. One of the most important tasks is choosing a small business structure. If your business is a single-member limited liability company (LLC), you may have heard the term disregarded entity. If you haven’t, don’t worry! A disregarded entity isn’t bad news. So, […]]]> What Is Disposable Personal Income? https://www.patriotsoftware.com/blog/accounting/what-is-disposable-personal-income/ Tue, 11 Oct 2022 20:13:00 +0000 https://pslohio.wpengine.com/uncategorized/what-is-disposable-personal-income/ alt=""How much money do you really have to spend? What about your employees? To figure out your available spending money, you need to find your disposable personal income. What is disposable personal income? What is disposable personal income? A worker’s disposable personal income (DPI) is how much money they have to spend after subtracting taxes, […]]]>