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A profit and loss (P&L) statement summarizes a company's revenue, expenses, and profits or losses over a given period of time. Learn what a P&L statement is and why you need one.
Retained earnings are the funds remaining from a company's net income after all profit distributions are paid to shareholders. Learn how to calculate, track and use retained earnings.
When you understand the relationship between revenue and income, you'll have a better grasp of company expenses and your overall business value.
Financial accounting is documenting your business's finances, often with the help of software. Here's what every business owner needs to know about how financial accounting works.
Restaurants have their own special accounting needs and quirks. Here's a look at what sets restaurant accounting apart.
Find out how much it costs to use a payroll company and how it compares to having a CPA run payroll for you.
Making proper payroll journal entries is a task with which all small business owners should be familiar.
Employers are required to submit multiple payroll forms to the IRS. Be sure you're filing the right forms correctly to avoid costly fines.
Find out what makes up a cash flow statement and why it's important for your business.
Modern accounting requires both hard and soft skills, and businesses want accountants with the most up-to-date skill sets.
Learn how a new POS system can help your restaurant manage orders, inventory, staff and a host of other back-office tasks.
Increase sales and minimize waste at your store with the data already in your POS system.
Doing payroll yourself can be as easy as these eight steps.
Just because your employees are hourly doesn't mean you can't plan for the long term. Here's how to budget annually for your hourly workers.
Understanding assets in accounting can help businesses obtain both short- and long-term financial goals.
Reconciling a business bank account means to ensure your books align with your bank statements. Here's how to reconcile your business bank account.
RPA can save your business time and money with error-free results. Learn how you can harness the power of automation to do more with less and make your business the best.
Schedule K-1 forms separate business income from personal income and are especially important for partnerships.
If you decide to offer compensation beyond employees' agreed-upon salary or wages, it's important to understand the tax implications and regulations of doing so.
Offering employees bonuses is a good workplace incentive and retention tool, but there are many things you should know before implementing a bonus structure.
Accounting software helps you record the flow of your company's money and examine your financial condition.
Knowing the money you owe to others, often referred to as liabilities, is an important part of keeping accurate financial records.
In order to understand whether your business will make or lose money, you need to know what your overhead expenses are.