Recent Articles

Cash Disbursements

Cash disbursements is the process of paying the bills for the small business. The most common format is to issue checks, but other methods include paying via direct debits to other accounts, paying by cash to vendors (get a signed receipt), issuing refunds to customers and electronic transfers (taxes).

Bookkeeping – Other Taxes (Lesson 59)


There are several more taxes that small businesses must adhere to each year.   This lesson explains these other taxes including: * Real Estate Taxes * Business Property Tax * State Franchise Tax * State Licenses or Fees * Unique Production or [...]

Bookkeeping – Controlling Cash (Lesson 48)


In small business, cash is almost always the number one issue.  There is simply never enough.  This is primarily attributable to growth.  Growth requires both physical assets to produce more and expansion of accounts receivable.  Technically [...]

Owner’s Draw in Business


When an owner of a small business operation transfers money from the business bank account to their personal bank account the transaction is commonly referred to as a ‘Draw’.  There are other terms but this is the traditional term used.   The [...]

Effective Internal Controls for Cash


All businesses should have internal controls to deter fraud, detect theft, and preserve assets.  Of all the assets, cash is the easiest to misappropriate.  Effective internal controls for cash prevent the proverbial hand in the cookie jar.   So [...]