Small business owners have more forms of financing available to them than ever before, including invoice factoring, also sometimes known as factoring receivables. Whether you’re new to accounts receivable financing or not, knowing how you should be accounting for factoring receivables in your accounting software is often a pain point for small business owners. This […]

The best small business accounting tools we’ve tested can help keep your company in the black. According to the IRS, the member will pay taxes for the LLC on personal income taxes using the 1040 tax return. Limited liability companies with a single owner or member accounting llc get taxed by the IRS as sole proprietorships. Financially […]

There are also some business entities (or special circumstances), like a tax shelter for example, that regardless of the gross receipt test need to use accrual basis. That’s a necessary element for an adequate recording of cash flow but not an accurate revenue/loss recognition according to GAAP (Generally Accepted Accounting Principles). Wave also offers both […]