An S corporation, no matter how small, must account for business transactions throughout the year. This is necessary to comply with federal and state tax reporting requirements at the end of the year.

Small-business bookkeeping involves setting up a framework, choosing your method and keeping track of details. Many, or all, of the products featured on this page are from our advertising partners who ...

Bookkeeping is a legal requirement. But from a business perspective, being able to balance the books is also fundamental for controlling your cash flow and keeping your business afloat. Fortunately, ...

This article is for educational purposes and does not constitute financial or legal advice. For specific advice applicable to your business, please contact a professional. Accounting and bookkeeping ...

While bookkeeping and accounting are both essential business functions, there is an important distinction. Bookkeeping is responsible for the recording of financial transactions. Accounting is ...

Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations. Accounting is the process of keeping track of all financial ...

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Joe Woodard of Woodard Events lays out the potential size of the market for deeper client accounting/advisory services and bookkeeping — and what firms need to do make the most of it. Well, massive is ...

Tax season catches the general public’s eye, and the future of auditing is very much a high-profile issue these days, but the third pillar of traditional accounting practices, bookkeeping, is facing ...

Learn how double-entry accounting records transactions twice, ensuring balance and accuracy by showing both a credit and a ...