Accounting

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Mastering the Payroll Journal Entry: Examples and Tips for Contractors

Discover the essentials of the payroll journal entry. Learn about types, examples, and best practices to streamline your employee payroll accounting.

5 min read
Business transactions recorded accurately by skilled bookkeeping services specialist

What the Percent of Sales Method is and How to Use it

What is the percentage of sales method for financial forecasting, and why is the percentage method used? Learn the formula to predict business success.

6 min read
percentage of sales increasing

Paid in Arrears: What Contractors Need to Know About Backward Payment Systems

Being paid in arrears means you’re being paid for work after it’s completed. Here’s a guide to understand if this payment method is right for you.

5 min read

How to Calculate Bad Debt Expenses: a Guide to Contractor Accounting

You expect clients to pay invoices on time. But unforeseen circumstances can lead to unpaid debts. Learning how to calculate bad debt expenses can help you avoid these issues

6 min read
couple-paying-expenses

10 Business Expense Categories Every Contractor Must Track for Taxes

Expense categories organize the costs related to doing business. Knowing where your money’s going can help you budget more effectively.

6 min read
expense categories organized at desk

Simplifying Retroactive Pay: What You Need to Know

Uncover the value of retroactive pay in correcting payroll mistakes. Learn how retroactive pay addresses payroll errors and boosts employee trust.

5 min read
happy employee receiving retroactive pay

A Simple Guide to Which Payroll Taxes Contractors Must Pay

Understanding which payroll taxes are paid by employers isn’t always easy. Learn about payroll tax rates and the taxes paid by employers in this guide.

6 min read
payroll taxes

Payroll Deductions Explained: Everything Contractors Need to Know for Compliance

Payroll deductions are mandatory and voluntary withdrawals employers make from employee paychecks. Learn more here about how they work with this guide

5 min read

What is Taxable Income? A Complete Overview

Get a better understanding of taxable income and how to calculate it. Plus, discover smart strategies to reduce it and keep more of your money.

6 min read
woman calculating taxable income

How to Issue a 1099 Form: Step-By-Step Guide

New to working with contractors? Here’s how to issue a 1099, including who gets one, filing deadlines, and best practices for a smooth process.

6 min read
filling 1099 form