Remove accounted Remove accrual accounting Remove online accounting Remove tax planning
article thumbnail

The Difference: Cash Basis Accounting vs. Accrual Accounting

xendoo

As a business owner, accounting methods may not rank that high on your list of passions, but understanding cash basis accounting vs. accrual accounting can be vital to your company’s health. . Cash basis and accrual accounting represent the two major methods of accounting used by financial professionals.

article thumbnail

3 Tips for Catching Up Your Books

xendoo

Some owners handle their own accounting, thinking they can do it all. Here are some of the reasons why you need current books: Tax Planning. Overdue books will cripple your business once tax season rolls around. You’ll also need to pay attention to your company’s accounting method. Vendor Accounts.

article thumbnail

What Type of Accountant Does Your eCommerce Business Need?

xendoo

Chances are that your accounting and bookkeeping needs are low on your list of priorities, but that can come back to bite you. Managing your own books may seem like a cost-saving strategy, but many online merchants lack the time or expertise to stay up-to-date and in compliance. Types of Accounting for Your eCommerce Business.

Account 52