Mary Girsch-Bock

Scarlettmidway

Expertise

Small business, Taxes

NUMBER OF PUBLICATIONS: 214 | LAST PUBLISH DATE: 01-16-2023

Past Experience

Over 20 years' experience writing about software, business, and accounting. Mary also writes for CPA Practice Advisor and blogs for several software companies.

Summary

Mary Girsch-Bock studied accounting and business at UIC. After working as an accountant for many years in various industries, including healthcare and property management, she returned to her first love, writing. She specialized in accounting and business articles, with an emphasis on software reviews, which she wrote for more than 20 years. She continues to write for the first publication she ever wrote for, CPA Practice Advisor, while blogging for several software companies.

Career Highlights

Mary's article from CPA Practice Advisor was cited in the Supreme Court of the United States case SOUTH DAKOTA vs. WAYFAIR, INC.

Completed two books: "Carcinoid Cancer, Zebras, and Stardust" and "Christmas on Addison Street."

Mary's Recent Articles

• 10 Small Business Ideas That Can Turn a Profit in Year One
  Jan 16, 2023
  If you're ready to be the boss but are concerned about profits, consider one of these 10 businesses that can turn a profit your first …
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• 7 Ways to Prepare Your Business for a Recession
  Oct 23, 2022
  With a recession looming, business owners are concerned. Here are some ways to prepare your business to survive and emerge even stronger after a recession.
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• How Managerial and Financial Accounting Differ
  May 18, 2022
  Managerial accounting is used for internal purposes, while financial accounting provides financial information based on accounting standards.
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• How to Use Double-Entry Accounting
  May 18, 2022
  Double-entry accounting can help track your finances and keep your books in balance. Learn how your business can utilize this financial technique.
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• The 5 Top Expensify Alternatives
  May 18, 2022
  Expensify is a popular expense management platform with great features, but it might not be for you. Here we give you our top five Expensify …
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• How to Process Expense Reports for Your Small Business
  May 18, 2022
  Are you unsure how to process expense reports and need a few tips to get started? Here are five expense reporting best practices that will …
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• A Guide to Reimbursing Expenses
  May 18, 2022
  Setting up an employee reimbursement policy can alleviate a lot of employee frustrations. Here are six tips for recreating an expense reimbursement plan.
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• Expense Management Best Practices for Your Small Business
  May 18, 2022
  Good expense management can help your small business control issues like overspending and fraud. Here are 10 best practices to implement in your business.
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• What You Should Know About Payroll Advances
  May 18, 2022
  If your employee runs into cash problems, a payroll advance could help. However, this can be abused if you're not careful. Follow these tips to …
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• Why Payroll Reconciliation Is Important for Your Small Business
  May 18, 2022
  Payroll is a big business expense, and it's important to get it done right to keep employees happy. The Ascent explains how to do a …
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• The 10 Best Payroll Services for Your Small Business
  May 18, 2022
  For small business owners, payroll can feel like an overwhelming task. The Ascent lists the top payroll services for small businesses.
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• Exempt vs. Non-Exempt Employee: How it Impacts Your Business
  May 18, 2022
  All employees are divided into two categories: exempt and non-exempt. The Ascent's guide to exempt employees explains everything you need to know for your business.
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• What Is Imputed Income?
  May 18, 2022
  Small business owners with employees need to understand imputed income and how to report it. This guide provides everything you need to know about imputed …
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• Is Biweekly Pay Right for Your Business?
  May 18, 2022
  As a new business owner, you should decide what the best payroll cycle is for your business. Learn why many small business owners choose biweekly …
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• The 7 Best Payroll Software Options for Accountants
  May 18, 2022
  Looking for a payroll software for accountants that will make your life easier? The Ascent narrows it down to see which payroll applications are right …
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• How to Run Payroll for Your Restaurant
  May 18, 2022
  Not sure where to start with setting up payroll for your restaurant? Learn how restaurant payroll works and how payroll software can make your life …
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• How to Process and Run Your Own Payroll
  May 18, 2022
  Running payroll is one of your most important tasks as a business owner. The Ascent breaks down how to do payroll with our step-by-step instructions.
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• 10 Steps to Creating an Invoice in QuickBooks Online
  May 18, 2022
  One of the most used features on QuickBooks Online is the invoice tool. We'll show you how to create an invoice, make recurring invoices, send …
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• How to Handle an NSF Check
  May 18, 2022
  A common method customers use to pay is with a check, but you run the risk of receiving an NSF check. Here are five things …
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• Is Non-Recourse Factoring Right for Your Business?
  May 18, 2022
  Non-recourse factoring is when the factoring company accepts responsibility for any non-payment. Here are the pros and cons of non-recourse factoring.
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• How to Create a Cash Flow Projection
  May 18, 2022
  A cash flow projection estimates the amount of cash that is expected to flow in and out of the business. Learn how to create a …
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• Is Debt Factoring Right for Your Business?
  May 18, 2022
  Debt factoring may be a viable temporary solution if your business is having some cash flow problems. Here's how to find a reliable debt factoring …
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• 6 Easy Ways to Build Your Business Credit and Your Business
  May 18, 2022
  Having good business credit is a must-have if you're planning to lease office space or take out a loan. Learn how you can build credit …
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• Should You Use Cash Against Documents (CAD) Financing in Your Small Business?
  May 18, 2022
  Cash against documents financing is used for international transactions to protect the buyer and seller. Here are three best practices when using CAD financing.
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• QuickBooks Online vs. Sage Business Cloud Accounting: Accounts Receivable
  May 18, 2022
  QuickBooks Online's accounts receivable feature is packed with advanced tools that you may not need. We cover Sage Business Cloud Accounting as an alternative.
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• What Are Assets? A Primer for Small Business Owners
  May 18, 2022
  Assets are tangible or intangible things your business owns, like furniture or patents. Here we outline the different types of assets and how to record …
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• QuickBooks Online vs. AccountEdge Pro: Inventory Management
  May 18, 2022
  QuickBooks Online's inventory management feature is limited; you might need more advanced functionality. We cover AccountingEdge Pro as an alternative.
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• QuickBooks vs. Sage 50cloud: Managing Accounts Payable
  May 18, 2022
  QuickBooks Online accounts payable feature is limited, and you might need something with more flexibility. We cover Sage 50cloud Accounting as an alternative.
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• QuickBooks Online vs. Zoho Books: Reporting
  May 18, 2022
  QuickBooks Online offers great reports, but it is expensive for small business owners. Here are four reasons why you should consider other reporting options.
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• Why Spot Factoring May Be Right for Your Business
  May 18, 2022
  Spot factoring lets you contract with a factoring company on an as-needed basis to finance your invoices. Here we discuss the pros and cons of …
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• What Is a Subledger, and Why Is It Important?
  May 18, 2022
  A subledger provides details for the general ledger account and makes it easy to pay your bills and collect money owed. Here's how to manage …
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• QuickBooks Online vs. Xero: Which Wins in the Invoicing War?
  May 18, 2022
  Quickbooks Online and Xero are two invoicing solutions rich with features, but which is better? The Ascent compares both head-to-head and chooses a winner.
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• How to Prepare a Working Budget for Your Business
  May 18, 2022
  A working budget is designed for flexibility and allows you to change your budget as circumstances change. Learn how to write a working budget for …
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• The Top 25 Business Terms You Need to Know
  May 18, 2022
  If you're just starting your business, you might encounter some new terminology. Here are some common business and accounting terms you should be familiar with.
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• How to Reconcile Your Bank Statements in QuickBooks Online
  May 18, 2022
  Bank reconciliation ensures your bank account's balance and your general ledger match. Learn how to reconcile your bank statement using QuickBooks Online.
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• What Are Prepaid Expenses and How to Record Them Properly
  May 18, 2022
  Prepaid expenses are expenses that have not yet been recorded but have already been paid in advance. Learn how to record prepaid expenses in four …
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• Why Cost Control Is Important for Your Small Business
  May 18, 2022
  When managing a project, you want to keep costs under control so the project stays on track. Here are five tips to help you control …
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• The Best Accounting Software for the Self-Employed
  May 18, 2022
  Are you self-employed and looking for an accounting software solution for your business? Here we cover our top accounting software picks to help you decide.
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• Is Zero-Based Budgeting Right for Your Business?
  May 18, 2022
  Zero-based budgeting uses strategic goals to align what expenses you want to add to your business budget. Follow these five steps to create a zero-based …
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• Check Fraud: What It Is and How to Avoid It at Your Business
  May 18, 2022
  If your business accepts checks, you need to be on the lookout for check fraud. Learn how your business can protect itself from check fraud …
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• 10 Unexpected Costs Your Business May Encounter
  May 18, 2022
  If you're running a business, chances are that you've come across some unexpected costs. Here are 10 unexpected costs your small business may stumble upon.
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• Why You Need to Create an Emergency Fund for Your Business
  May 18, 2022
  Is your business ready for those unforeseen and possible tough times ahead? Learn how to cut unnecessary expenses and stash cash into a business emergency …
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• Form 2553: What It Is and Why You May Want to File It
  May 18, 2022
  If you are looking to lower your tax liability, consider filing a Form 2553 for your small business. Here are three reasons why you want …
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• Budget Variances: How They Can Help You Create an Accurate Budget
  May 18, 2022
  Budget variances are instances where your budgeted costs differ from the actual costs. Here's how to use your budget variance to create an accurate budget.
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• Why You Need to Understand Margin
  May 18, 2022
  Profit margin measures the profitability of your business and should be calculated regularly. Here are three profit margins that your business should calculate.
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• Return on Investment (ROI) and What It Means For Your Business
  May 18, 2022
  ROI is a ratio that determines how effective your investment is in generating income. Here are the pros and cons of calculating ROI for your …
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• 3 Non-Cash Expenses Your Business Can Experience
  May 18, 2022
  Depreciation is a non-cash expense that is used to expense big-ticket items over time and doesn't affect cash flow. Here's how to record a non-cash …
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• How to Record Your Accounting Transactions
  May 18, 2022
  Recording your business transactions is part of accounting and must be recorded in a timely and accurate way. Here are six ways to record your …
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• Early Payment Discounts: Should You Use Them in Your Business?
  May 18, 2022
  Offering early payment discounts to customers can incentivize them to pay their bills early and increase business cash flow. Here we outline the pros and …
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• A Guide to the Current Ratio and How to Use It in Your Business
  May 18, 2022
  The current ratio determines the financial health of your company and helps you make adjustments as necessary. Find out how financially stable your business is.
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• How Should You Classify Office Expenses?
  May 18, 2022
  Office supplies fall in the asset category, but they are purchased for consumption, meaning it can fall into an expense category. Here's how to classify …
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• Calculating Cash Flow From Investing Activities
  May 18, 2022
  The cash flow statement shows all long-term investing activities and how well cash is being managed. Here are some examples of investment activities to track.
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• Goodwill Accounting: What It Is and How to Calculate It
  May 18, 2022
  Goodwill accounting is the difference between the purchase price of a business and its book value. Learn what it is and how to calculate it …
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• Billable Hours: What They Are and How to Track Them
  May 18, 2022
  Billable hours are the number of hours a contractor charges for performing a specified service for a client. Learn how to track billable hours properly.
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• How to Allocate Functional Expenses for Your Nonprofit
  May 18, 2022
  The statement of functional expenses is a detailed list of expenses such as salaries, rent, and utilities. Here are four ways to allocate functional expenses.
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• CPA or Accountant: Which One Does Your Business Need?
  May 18, 2022
  CPAs and accountants perform similar tasks, but which one do you need for your business? Learn when it makes sense to use a CPA versus …
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• The Debt Service Coverage Ratio and How to Calculate It
  May 18, 2022
  The debt service coverage ratio (DSCR) determines your ability to take on additional debt. Learn how to calculate your DSCR before applying for a loan.
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• How to Track Your Time in FreshBooks
  May 18, 2022
  When you don’t bill your clients properly, you’re losing money. Freshbooks' time-tracking features make it easy for you. Here are three popular features to use.
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• How to Create an Invoice With FreshBooks
  May 18, 2022
  Creating an invoice can be simple if you're using accounting software like FreshBooks. Learn how easy it is to create a FreshBooks invoice in just …
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• What Is a Cost Center and Why Are They Important to Your Business?
  May 18, 2022
  Cost centers are designed to add value to the company by managing accounting and financial analysis tasks. Learn how they work and the benefits they …
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• How to Analyze Your Financial Statements
  May 18, 2022
  Analyzing financial statements helps small business owners understand the financial health of their company. Learn how to perform financial statement analysis.
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• A Guide to Paying Yourself From Your LLC
  May 18, 2022
  As the business owner of an LLC, you might be asking yourself, how do I pay myself? Learn the benefits of starting an LLC and …
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• Accounting for Startups: What You Need to Know
  May 18, 2022
  Accounting for startups is important since you’re likely operating your small business on a limited budget. Here are 10 accounting basics you need to track.
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• What Is a Pro Forma Invoice, and When Should You Use One?
  May 18, 2022
  Businesses use pro forma invoices to provide customers with an estimate for goods or services. Learn when to use a pro forma invoice in your …
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• Understanding Audit Assertions and Why They’re Important
  May 18, 2022
  Audit assertions serve as management's claim that the financial statements are accurate. Here are eight audit assertion categories used to verify financials.
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• Understanding the Payback Period and How to Calculate It
  May 18, 2022
  The payback period formula determines how long it takes for a business to recoup its initial investment. Learn how to calculate it plus see an …
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• The Cash Conversion Cycle and How to Calculate It for Your Business
  May 18, 2022
  The cash conversion cycle (CCC) is a metric that measures the number of days it takes to convert inventory into cash. Learn how to calculate …
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• Why the Post-Closing Trial Balance Is so Important for Your Business
  May 18, 2022
  A post-closing trial balance report makes sure your temporary account balances are reset to zero to begin the new accounting period. Here's a detailed example.
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• Bookkeeping vs. Accounting: A Small Business Guide to the Differences
  May 18, 2022
  Bookkeeping and accounting are similar, yet also very different. In this article, The Ascent explains the importance of the differences to small businesses.
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• Why You Need To Know Your Overhead Rate
  May 18, 2022
  The overhead rate is determined by calculating how much indirect overhead is spent to produce products or services. Learn how to calculate it plus see …
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• How to Set Up Petty Cash for Your Business
  May 18, 2022
  Petty cash is the money a small business keeps on hand to pay for miscellaneous things. Learn how to set up and use petty cash …
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• Net 30: Good or Bad for Your Business?
  May 18, 2022
  Net 30 is a credit term that gives customers up to 30 days to make full payment. Here we explain the pros and cons so …
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• SG&A Expenses and Why They’re Important
  May 18, 2022
  SG&A expenses are all the non-production costs of running a business. Learn how to calculate and track SG&A expenses to get better insights into performance.
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• Top 10 Payment and Invoicing Terms You Should Know
  May 18, 2022
  Depending on your customer's profile, you might offer different payment terms based on certain criteria. Learn which payment terms to use in your small business.
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• How to Calculate Net Profit Margin for Your Business
  May 18, 2022
  Net profit margin determines the percentage of profit your company generates from total revenue. Learn how to calculate it, and learn from these two examples.
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• Understanding the Cash Coverage Ratio and How to Calculate It
  May 18, 2022
  If your business is carrying debt, the cash coverage ratio identifies if your business has sufficient funds to pay it. Learn how to calculate it …
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• Margin vs. Markup: Why You Need to Calculate Both
  May 18, 2022
  Both margin and markup are used by companies to measure profit margin or to set pricing strategies. Learn how both metrics can improve profitability.
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• How to Calculate Days Sales Outstanding and Why It Matters
  May 18, 2022
  Days sales outstanding (DSO) is a ratio that measures how many days it takes your customers to pay you. Learn the significance of DSO and …
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• What Is Accounting?: A Guide for New Business Owners
  May 18, 2022
  Accounting gives you in-depth financial knowledge about your company. Here's why it’s important to use it in your small business -- plus learn the four …
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• Why Small Business Owners Should Always Estimate an Allowance for Doubtful Accounts (ADA)
  May 18, 2022
  Creating an allowance for doubtful accounts (ADA) allows you to offset your accounts receivable account balance. Learn how to estimate the ADA with these examples.
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• What Is a Not-for-Profit Business and How Does It Differ From a For-Profit Business?
  May 18, 2022
  While most nonprofits serve the good of the general public, not-for-profit organizations benefit a certain group of people, such as social clubs and civic leagues.
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• What Is Account Reconciliation and Why Is It Important for Your Business?
  May 18, 2022
  Account reconciliation ensures the amount of money spent matches the amount shown leaving an account. Learn why it's important to regularly check for errors.
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• Should You Use Cash Discounts in Your Small Business?
  May 18, 2022
  You can get customers to pay invoices early by offering a cash discount, but is it a viable option for your business?
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• How to Use Contra Asset Accounts
  May 18, 2022
  A contra asset account is an asset account in which the balance of the account has a credit balance. Learn the benefits of using it …
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• What Are Control Accounts?
  May 18, 2022
  Control accounts take the balance of the accounts in the subsidiary ledgers and post the total into a general ledger. Learn how to use them …
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• Why Allocating Costs Is Important for Your Small Business
  May 18, 2022
  Part of running a successful business is tracking and allocating costs. Learn what cost allocation is and why you should be using this accounting measure …
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• Current Ratio vs. Quick Ratio: Learn the Difference
  May 18, 2022
  Both the current ratio and the quick ratio measure a business's ability to generate enough cash to pay its debts. Here's how they differ and …
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• Understanding the Cost Principle Is Important to Your Business
  May 18, 2022
  The cost principle requires that assets be recorded at the original purchase price, but what is it? Here are three examples of when to use …
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• A Guide to Properly Managing Plant Assets
  May 18, 2022
  Plant assets are long-term assets that produce goods and services for customers. Here are some common examples of plant assets and how to depreciate them.
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• The Accounting Equation: How to Use It in Your Small Business
  May 18, 2022
  The accounting equation helps you understand how assets, liabilities, and owner's equity relate. Here's how to calculate this key equation -- and how to use …
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• 11 Common Types of Liabilities
  May 18, 2022
  Managing liabilities is part of being a business owner, but did you know there are different types of liabilities? Here's a primer on each type.
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• Deferred Revenue: How to Recognize It Properly
  May 18, 2022
  Any revenue received in advance of the delivery of goods or services is considered deferred revenue. Here's how it works and why it's so important …
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• The Importance of the Times Interest Earned Ratio
  May 18, 2022
  The times interest earned ratio is a measure of a company's ability to make interest payments on its debt obligations. Learn how this ratio can …
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• The Asset Turnover Ratio: An Important Ratio for Small Businesses
  May 18, 2022
  Asset turnover is a financial ratio that measures a company's ability to generate sales from its assets. Learn how to calculate this ratio in three …
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• What Is the Double Declining Balance Depreciation Method?
  May 18, 2022
  Double declining balance (DDB) depreciation is an accelerated depreciation method that depreciates expenses faster in the early years of an asset's life.
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• What Is Capex and How Do You Calculate It?
  May 18, 2022
  Capex, or capital expenditures, are an investment in the future growth of the business. Here we explain what it is and how to calculate capex …
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• Product Cost vs. Period Costs: What Are the Differences?
  May 18, 2022
  Product and period costs are both associated with product manufacturing. Learn the difference between them so you can better track costs for your business.
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• How to Record a Depreciation Journal Entry
  May 18, 2022
  Using depreciation allows you to depreciate assets and certain costs over time. This guide discusses how to calculate the depreciation expense journal entry.
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• Direct vs. Indirect Labor: What Are the Differences?
  May 18, 2022
  In order to get a clear picture of your labor costs, you should know your direct labor and indirect labor costs. Learn how to calculate …
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• What Are Overhead Costs and How to Track Them
  May 18, 2022
  A business has overhead costs that should be tracked to make sure the business is covering those costs. Learn how to track overhead costs for …
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• What Is a Classified Balance Sheet, and Do You Need One for Your Business?
  May 18, 2022
  A classified balance sheet breaks down assets, liabilities, and equity into categories. Learn how to use the accounting equation with a classified balance sheet.
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• What Is Full-Time Equivalent (FTE) and Does It Affect Your Business?
  May 18, 2022
  Full-time equivalent (FTE) determines how many full-time and part-time employees your business employs. Learn how to calculate full-time equivalent and why it matters.
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• Horizontal Analysis: Should You Be Using It in Your Business?
  May 18, 2022
  Horizontal analysis compares financial statements to get an in-depth look at financial performance. Here's how horizontal analysis can help you spot key trends.
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• The Difference Between Sales and Revenue
  May 18, 2022
  Sales and revenue are two terms often used interchangeably, but in reality, they often mean different things. Learn the differences between these two terms.
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• Top 5 Accounts Payable Software Applications for Your Small Business
  May 18, 2022
  If your business is using the accrual accounting method, you need to manage accounts payable properly. Here's best software for processing accounts payable.
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• How to Prepare a Statement of Retained Earnings
  May 18, 2022
  Retained earnings is the net profit your business generates that's retained for future use. The Ascent covers how to prepare a statement of retained earnings.
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• 5 Best Bookkeeping Software Solutions for Small Businesses
  May 18, 2022
  Do you need a good bookkeeping software solution for your business? Here are The Ascent's picks for the top five bookkeeping solutions for small businesses.
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• How to Create a Master Budget for Your Business
  May 18, 2022
  A master budget is a helpful tool for smaller manufacturing businesses. The Ascent explores how to prepare a master budget for your small business.
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• Accounts Payable vs. Accounts Receivable: Learn the Differences
  May 18, 2022
  Accounts payable and accounts receivable are regularly used in double-entry accounting. Here's how to use them to keep your small business running smoothly.
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• Why You Should Calculate Your Net Working Capital
  May 18, 2022
  Net working capital (NWC) gives you a snapshot of the financial health of your business. The Ascent outlines how to calculate net working capital.
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• Should You Use the Periodic Inventory System for Your Business?
  May 18, 2022
  Periodic inventory systems are used by smaller businesses that do a physical inventory. The Ascent covers the benefits of the periodic inventory system.
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• How to Record Unearned Revenue
  May 18, 2022
  Unearned revenue is money that has been received when the product or service has not yet been provided. The Ascent explains how to record unearned …
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• The 5 Best Accounting Systems for Small Businesses
  May 18, 2022
  Finding the right accounting software can be a big challenge for small businesses. The Ascent outlines five accounting systems and how they stand out.
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• Variable Costs: How They Affect Your Business
  May 18, 2022
  Variable costs rise or fall with production levels. Learn about the different types of variable costs and how to calculate them for your small business …
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• FreshBooks Alternatives: Which One Is Right for Your Business?
  May 18, 2022
  FreshBooks is an intuitive business accounting solution, but it’s not the right fit for everyone. The Ascent details 10 Freshbooks alternatives.
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• Xero Alternatives: Which One Is Right for Your Business?
  May 18, 2022
  Xero is a great accounting solution, but you may want to consider other options. The Ascent covers the best Xero alternatives for your small business.
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• 7 Activity Ratios to Run for Your Small Business
  May 18, 2022
  Activity ratios are designed to measure the financial health of the business. Learn how to calculate this key financial metric in this guide from The …
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• Direct vs. Indirect Costs: What's the Difference?
  May 18, 2022
  Learn the difference between direct vs. costs indirect costs. The Ascent helps you categorize them properly. (Hint: Direct costs are specific to a product.)
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• How Management Accounting Can Help Your Business
  May 18, 2022
  Management accounting focuses on internal business operations and is used for decision-making. The Ascent covers the main functions of management accounting.
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• How to Get Started with Financial Accounting
  May 18, 2022
  Financial accounting records transactions and summarizes those transactions using financial statements. The Ascent covers the types of financial statements.
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• A Beginner's Guide to Trade Receivables
  May 18, 2022
  Managing trade receivables is vital for the stability and profitability of your small business. The Ascent goes through how to reduce trade receivables.
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• How to Calculate Net Sales For Your Small Business
  May 18, 2022
  Net sales is reported on your income statement, but how do you calculate it? The Ascent shows you how to calculate net sales for your …
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• LIFO vs. FIFO: Which Should You Use?
  May 18, 2022
  LIFO and FIFO are inventory valuation methods that will directly affect your financial statements. The Ascent compares using LIFO vs. FIFO.
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• Income Statements: Which Format Is Best for Your Business?
  May 18, 2022
  The income statement gives businesses a clear snapshot of financial performance. The Ascent goes through the various formats of the income statement.
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• Multi-Step Income Statement: Is It Right for Your Business?
  May 18, 2022
  The multi-step income statement gives detailed information about the health of your business. The Ascent covers how the multi-step income statement works.
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• How to Calculate Gross Profit Margin
  May 18, 2022
  Determine the profitability of your business by calculating gross profit margin. The Ascent goes through how to calculate the gross profit margin.
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• A Guide to Solvency: What It Means For Your Business
  May 18, 2022
  Solvency examines a business’s ability to pay its debt by meeting long-term obligations. The Ascent discusses solvency and how it differs from liquidity.
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• Everything Small Businesses Need to Know about Business Expenses
  May 18, 2022
  What is a business expense and how do you know if it’s deductible? The Ascent goes through the different ways to track your business expenses.
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• 5 Steps to Preparing a Market Analysis for Your Small Business
  May 18, 2022
  Before selling a new product or starting a new business you should prepare a market analysis. The Ascent goes through how to perform a market …
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• A Guide to Small Business Accounting for Beginners
  May 18, 2022
  Accounting can be intimidating for small businesses. The Ascent goes through how to do accounting for your small business.
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• Fund Accounting: A Must for Nonprofits
  May 18, 2022
  Fund accounting is used by entities to properly account for funds received from various sources. The Ascent goes through how fund accounting works.
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• Why Operating Income is Important for Small Businesses
  May 18, 2022
  Operating income is a valuable metric when determining the profitability of your business. The Ascent shows you how to calculate the operating income.
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• How to Calculate Your Cost of Goods Sold (COGS)
  May 18, 2022
  Knowing your cost of goods sold is a must for selling products and calculating net profit. The Ascent goes through how to calculate cost of …
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• Activity-Based Costing: Is It RIght For Your Small Business?
  May 18, 2022
  Activity-based costing is a method used to track the actual cost of producing a product. The Ascent goes through how activity-based costing works.
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• The Direct Write-Off Method: Should You Use It In Your Business?
  May 18, 2022
  The direct write-off method is a convenient way to remove bad debt from your books. The Ascent goes through how to use the direct write-off …
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• Accrued Expenses: What They Are and Why They’re Important
  May 18, 2022
  Small businesses need to account for incurred expenses and you do this by accruing expenses. The Ascent covers how to record accrued expenses.
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• What is Profitability and How Do You Measure it?
  May 18, 2022
  Profitability is the measurement that can be used to determine the financial health of a business. The Ascent goes through how to measure profitability.
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• Why Expense Recognition Principle is Important to Small Businesses
  May 18, 2022
  Expense recognition is a key component of accrual accounting. The Ascent covers how the expense recognition principle works.
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• What Is a Trial Balance and Why Is It Important?
  May 18, 2022
  A trial balance serves as a way to check for posting errors and to ensure that debits and credits match. The Ascent goes through how …
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• The Top 10 Accounting Tools for Your Small Businesses
  May 18, 2022
  There are many tools on the market designed to help small business owners manage their accounting. The Ascent goes through some of the best accounting …
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• A Beginner's Guide to Nonprofit Accounting
  May 18, 2022
  Nonprofit organizations need to track donations, handle tax receipts, and much more. The Ascent goes through how to set up bookkeeping for your nonprofit.
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• Ratio Analysis: Why it’s Important for Your Small Business
  May 18, 2022
  Ratio analysis is most often used to analyze trends and get insights into the financial well-being of a company. The Ascent shows you how to …
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• Financial Leverage and How it Can Help Your Business
  May 18, 2022
  Financial leverage can be beneficial under certain conditions. The Ascent discusses how financial leverage could be a good option for your business.
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• Why a Flexible Budget May Be a Good Option for Your Business
  May 18, 2022
  A flexible budget can be a useful resource to budget around variable costs. The Ascent goes through how a flexible budget can help your business.
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• A Guide to Inventory Accounting Methods
  May 18, 2022
  When you keep inventory in stock, you need to ensure that it’s accounted for accurately. The Ascent goes through different inventory accounting methods.
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• Manufacturing Overhead: What You Should Know
  May 18, 2022
  An integral part of business profitability is to understand manufacturing overhead. The Ascent covers how to calculate and allocate manufacturing overhead.
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• Why the Matching Principle is Important for Small Businesses
  May 18, 2022
  The matching principle states that revenue and expenses should be reported at the same time. The Ascent covers the benefits of the matching principle.
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• Cash Basis vs. Accrual Basis: What's the Difference?
  May 18, 2022
  Cash and accrual basis accounting are similar, but differ in how they report revenue and expenses. The Ascent discusses both accounting methods.
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• Chart of Accounts: Why It’s So Important For Your Business
  May 18, 2022
  Managing your chart of accounts is extremely important for small business owners. The Ascent goes over how these accounts work.
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• How to Calculate Gross Margin Ratio
  May 18, 2022
  The gross margin ratio helps businesses understand their profitability, considering gross profit and net sales. The Ascent shows you how to calculate this ratio.
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• A Small Business Guide to T-Accounts
  May 18, 2022
  T-accounts are a useful aid for processing double-entry accounting transactions. The Ascent goes through what T-accounts are and how T-accounts are used.
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• Temporary Accounts: How to Use Them Properly
  May 18, 2022
  Temporary accounts are an important part of the accounting process. The Ascent goes through how to handle temporary accounts properly.
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• What Are Financial Statements?
  May 18, 2022
  Financial statements are reports that provide information regarding a company’s financial position. The Ascent goes through different financial statements.
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• What Are EFT Payments?
  May 18, 2022
  EFT payments are designed to move money between bank accounts using a computerized network. The Ascent explains how EFT payments work.
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• How to Calculate Free Cash Flow
  May 18, 2022
  Free cash flow is a measure designed to let you know the profitability of a company. The Ascent explains why free cash flow is important …
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• What Operating Margin Tells You About Your Business
  May 18, 2022
  Operating margin is used to determine the profitability of a business. The Ascent goes through how to calculate operating margin and why it is important.
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• How to Create a Retained Earnings Statement
  May 18, 2022
  Retained earnings are an important part of any business. The Ascent provides you with 4 simple steps on how to create a retained earnings statement.
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• How to Process Accounts Receivable for Your Small Business
  May 18, 2022
  Accounts receivable helps you recognize your current revenue stream. The Ascent gives you a step-by-step instructions on how to process accounts receivable.
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• Accounting Methods: Which One is Best for Your Business?
  May 18, 2022
  Depending on your business needs, you may use different accounting methods for your finances. The Ascent looks at each method and how it works.
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• How to Calculate Straight Line Depreciation
  May 18, 2022
  Straight line depreciation is ideal for small businesses that need to depreciate fixed assets. The Ascent shows you how to calculate this accounting measure.
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• Why Break-Even Analysis is Important for Your Small Business
  May 18, 2022
  For small businesses, a break-even analysis lets you know when you can expect to start earning a profit. The Ascent explains how to calculate it.
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• Adjusting Entries: What They Are and Why You Need Them
  May 18, 2022
  For your financial statements to be accurate, you must prepare and post adjusting entries. The Ascent explains what they are and why they’re so important.
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• What Is Depreciation and How Do You Calculate It?
  May 18, 2022
  Depreciation is the allocation of the cost of a fixed asset over a specific period of time. The Ascent explains depreciation basics and how does …
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• What Is a Balance Sheet and How Do You Prepare One?
  May 18, 2022
  A balance sheet is one of the three financial statements that businesses need to prepare. The Ascent explains what a balance sheet reveals about your …
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• Your All-Encompassing Guide to Bank Reconciliations
  May 18, 2022
  Completing a bank reconciliation ensures your ending bank statement and your general ledger account are in balance. Here are the steps to complete this key …
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• Preparing an Adjusted Trial Balance: A Guide
  May 18, 2022
  Preparing an adjusted trial balance is an important part of the accounting cycle. The Ascent walks you through the steps to create an adjusted trial …
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• Fixed Cost vs. Variable Cost: How to Tell the Difference
  May 18, 2022
  Businesses incur both fixed costs and variable costs on a regular basis. In this guide, The Ascent explains both and how to tell the difference.
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• Operating Expenses and Business Operations for Your Small Business
  May 18, 2022
  Operating expenses reflect the cost of keeping your business running. Find out how rent, utilities, marketing, and other operating costs affect your income statement.
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• A Beginner's Guide to Working Capital
  May 18, 2022
  Working capital is an important business metric since the calculation determines the ability of a company to pay off current debts within a year.
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• Cash Flow Statements: What They Tell You About Your Business
  May 18, 2022
  Cash flow statements are important financial reports to find profitable and problematic areas of your business. The Ascent shows you how to create a cash …
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• 8 Steps to Creating a Profit and Loss Statement
  May 18, 2022
  A profit and loss statement provides businesses with a view of important financial data. In this step-by-step guide, The Ascent explains how to create one.
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• How to Calculate Margin: A Guide
  May 18, 2022
  It’s important for every business owner to understand how to calculate profit margin. The Ascent's guide explains the importance of the profit margin ratio.
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• What are Intangible Assets and How Do You Record Them?
  May 18, 2022
  The Ascent reviews what intangible assets are, demonstrates how to value them, and provides an example of how to record the amortization of an intangible …
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• Operating Cash Flow and What it Means for Your Business
  May 18, 2022
  The operating cash flow formula can provide you with insight into your business's profitability. The Ascent walks you through understanding operating cash flow.
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• When to Use Debits vs. Credits in Accounting
  May 18, 2022
  Understand the difference between debits vs. credits with this guide from The Ascent, which also provides multiple examples and a handy reference chart.
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• Net Income vs. Net Profit: How They Affect Your Business
  May 18, 2022
  Net income and net profit are two terms frequently used by accountants and business owners alike. The Ascent explains each term and clarifies if there …
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• What the General Ledger Can Tell You About Your Business
  May 18, 2022
  The general ledger is the backbone of your accounting system. Learn how your general ledger is crucial to understanding the financial health of your business.
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• A Guide to Calculating and Interpreting Your Debt-to-Asset Ratio
  May 18, 2022
  If you’ve financed part of your business assets with outside debt, you should learn your debt-to-asset ratio. The Ascent breaks down how to use this …
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• How to Use and Track Notes Payable
  May 18, 2022
  Unsure of the difference between notes payable and accounts payable? Read our explanation of what notes payable is and how it differs from accounts payable.
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• A Small Business Guide to the Revenue Recognition Principle
  May 18, 2022
  The revenue recognition principle, or just revenue principle, tells businesses when they should record their earned revenue. The Ascent breaks down the RRP.
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• A Beginner's Guide to Quick Ratio
  May 18, 2022
  Do you know what the quick ratio measures? Learn how to calculate and interpret the quick ratio for your company, and how it may be …
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• A Guide to Accounts Receivable Turnover Ratio
  May 18, 2022
  As a small business owner, chances are you’ve never heard of accounts receivable turnover ratio. Learn how calculating this ratio can provide valuable business insight.
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• A Beginner's Guide to Recording Journal Entries
  May 18, 2022
  If you’re unfamiliar with recording journal entries, or need a refresher, The Ascent provides an explanation of what a journal entry is and why they’re …
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• What Invoice Software Is Right for Your Business?
  May 18, 2022
  Do you create a lot of invoices? Do you want to be able to create them quickly? If so, The Ascent provides the top picks …
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• QuickBooks Pro vs. QuickBooks Premier: Which Is Right for Your Business?
  May 18, 2022
  Not sure which version of QuickBooks to purchase? Compare QuickBooks Pro with QuickBooks Premier -- the two most popular small business accounting applications.
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• QuickBooks Online Tutorial: A Beginner's Guide
  May 18, 2022
  Not sure how to use QuickBooks Online? This QuickBooks tutorial provides easy step-by-step instructions to help you get up and running quickly.
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• A Beginner's Guide to Small Business Bookkeeping
  May 18, 2022
  Every business should have a system to properly manage your business budget. The Ascent covers how you can get started with your small business bookkeeping.
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• How to Create a Business Budget for Your Small Business
  May 18, 2022
  Budgets are useful for controlling spending and growing revenue. The Ascent breaks down how to create a business budget while strategizing for long-term success.
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• How to Categorize Business Expenses
  May 18, 2022
  Wondering what business expense category that bill you just paid falls into? The Ascent takes a look at business expenses and how you should be …
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• How to Manage the Accounts Payable Process
  May 18, 2022
  If you’re unsure about the correct accounts payable process and what it entails, be sure to read on for an in-depth explanation to help your …
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• How to Track Business Expenses: 7 Steps for Success
  May 18, 2022
  If you own a small business, you'll have to know how to track business expenses. The Ascent breaks down the steps to start tracking your …
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• Top Accounting Ratios to Help Manage Your Business
  May 18, 2022
  All businesses should understand how to apply accounting ratios to calculate business profitability, analyze cash flow, and even calculate your market value.
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• What Are the 8 Different Types of Accounting?
  May 18, 2022
  From financial to forensic, there are different types of accounting fields. Find out what they are, how they differ, and the one similarity they all …
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• The Top 25 Accounting Terms for Business Owners and Students Alike
  May 18, 2022
  If you can't separate an asset from a liability, you need to learn the basic accounting principles. Check out 25 accounting terms business owners should …
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• The 8 Best QuickBooks Alternatives for Small Businesses
  May 18, 2022
  QuickBooks Online is one of the most popular accounting software applications. If it isn’t right for you, check out some of the best QuickBooks alternatives.
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• How to Prepare Your Closing Entries
  May 18, 2022
  The accounting experts at The Ascent walk you through what closing entries are and how to close your books properly with a step-by-step guide.
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• The Beginner's Guide to the Accounting Cycle
  May 18, 2022
  The accounting cycle is completed at the end of the month, culminating in the close of that month’s books. The Ascent breaks down the steps …
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• How to Calculate and Use Accounting Cost and Economic Cost
  May 18, 2022
  Is accounting cost sufficient for small businesses, or should you also incorporate economic cost? The Ascent takes a look at which you should use.
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• Accounting 101: The Basics You Need to Know
  May 18, 2022
  Do you understand double-entry accounting? Struggling to recall debits vs. credits? The Ascent takes you through accounting 101.
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• What are Financial Projections and Why Do You Need Them?
  May 18, 2022
  Creating financial projections can help you map out the future of your business. The Ascent walks you through the financial projection process.
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• How to Create Your Own Expense Report
  May 18, 2022
  Need help creating an expense report? The accounting experts at The Ascent break down what you need to know, including templates to use.
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• Bookkeeping Basics for the Small Business Owner
  May 18, 2022
  Is cash an asset? What’s the difference between a liability and an expense? Learn the bookkeeping basics with our in-depth guide.
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• How to Write an Invoice for Your Small Business
  May 18, 2022
  If you’re a new business owner, you may be unsure how to write an invoice. We’ll guide you through the invoice process with our easy-to-follow …
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• Why Profit Planning Is Important for Your Small Business
  May 18, 2022
  Detailed profit planning is important, even for smaller businesses. Follow these four profit planning practices to start planning today and achieve profits.
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• Spotlight on Women-Owned Business: A Conversation With Rena Reiser, Owner of New Mexico MarketPlace and New Mexico Woman
  May 18, 2022
  Rena Reiser, owner of New Mexico MarketPlace and New Mexico Woman, tells The Ascent her story about the challenges and rewards of running a business.
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• Top 10 Best States to Start Your Small Business in 2024
  May 18, 2022
  Starting a business is difficult, but even more important is where you start it. Here we detail the top 10 states to start your next …
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• Double Taxation: What It Is and How to Avoid It
  May 18, 2022
  Shareholders that receive dividends can't avoid double taxation. However, if you have a corporation, here are three tips to help you avoid being double taxed.
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• What Tax Nexus Means for Your Small Business
  May 18, 2022
  If you're selling products online out of state, you need to collect sales tax in those states, thus creating a tax nexus. Learn how a …
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• IRS Form 14157: What It Is and Why You May Need It
  May 18, 2022
  If you suspect that your tax preparer is not reporting your taxes accurately, you can file an IRS Form 14157. Here's how to file a …
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• IRS Form 4562: What Is It Used For?
  May 18, 2022
  IRS Form 4562 needs to be submitted if you're depreciating or amortizing deductions on big-ticket items. In this guide, we break down the form part-by-part.
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• Is an EIDL Loan Right for Your Small Business?
  May 18, 2022
  Are you considering an EIDL loan? Make sure you understand the terms and requirements before applying. Here are the pros and cons of getting an …
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• How to Calculate Tax Liability for Your Business
  May 18, 2022
  Tax liabilities are the amount of taxes that you owe to a tax authority such as the IRS or the state. Here are a few …
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• How to Calculate Payroll Taxes for Your Small Business
  May 18, 2022
  Calculating employee payroll taxes can be challenging, so you might need some help. The Ascent covers how to calculate payroll taxes for your small business.
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• A Small Business Guide to Pretax Income
  May 18, 2022
  The Ascent's guide explains pretax income, a calculation businesses use to determine net income before taxes are deducted. Use this guide to calculate your business's …
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