Businesses can use one of two methods to report a bad debt on their taxes, the specific charge-off method and the nonaccrual-experience method. The IRS provides detailed instructions on both methods in its Publication 535, Business Expenses. The business only has to report the amount of the recovery equal to the amount it previously deducted. […]

Content Implement a late fee What should bookkeeping services cost? Seamlessly Integrate with Your Preferred Software Charge your worth when it comes to bookkeeping services What Is Tax Liability: Everything You Should Know The three costs of early-stage bookkeeping Financial Reporting Instead, you need to ask yourself how much value you provide for your client. […]

Content Choose your bookkeeping method Bookkeeping Examples Perform regular financial checkups. Computerized bookkeeping Excel bookkeeping vs. online bookkeeping What are the best tools for ecommerce bookkeeping? Even if a customer is having financial problems, you may be able to set up a payment plan to get at least some of what you’re owed. Entering data […]

This is especially important for businesses in industries that experience delays in payment—like construction and trucking. Accounts receivable factoring is a powerful financing option for businesses seeking to improve cash flow, manage operations, and drive growth. By leveraging unpaid invoices, businesses can access the funds they need without taking on additional debt or waiting for […]