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Tax Reform: Meal & Entertainment Changes

As many of you are aware, Washington has made important changes to tax law. The new tax reform impacts how businesses and individuals are taxed, including limitations on meal and entertainment deductions for businesses. Businesses often rely on entertainment and meals as a way to build rapport…

The Benefits of Direct Deposit

In today’s automated age we expect everything to have an almost immediate response rate, from the countless coffees we order via mobile to the posts we share on our social media accounts, we expect immediate results. Sending and receiving funds is not excluded from this common expectation and…

What is QuickBooks?

If you’re getting ready to start a small business or have recently begun working with a start-up you’ve probably heard of QuickBooks. If the word QuickBooks scares you, or for that matter the thought of bookkeeping and accounting in general, let us help you understand the tools available to…

Accounting Errors that are Difficult to Discover

Unfortunately, accounting errors happen to every company. A great accounting team and due diligence can help avoid it from occurring as often, but even the most minor of errors are inevitable. When that time does come it is crucial for your business to know and understand how to detect these…

Bookkeeping Basics: Commercial Banking

What is Commercial Banking? Commercial Banking offers services that are designed specifically for businesses. Commercial banks can help businesses – big and small – to help organize finances. Especially when owning your own small business, it is very important to have a business…

Bookkeeping Basics: Balance Sheets

We are continuing our overview of accounting essentials with our second blog in the Bookkeeping Basics series with a discussion on Balance Sheets! (If you would like to check out our first blog of the series, click here.) What is a balance sheet? A balance sheet is a financial document that…

Accounting for Law Firms

Bakersmith Bookkeeping is an expert on law firm bookkeeping. (You may have noticed that we’ve mentioned it before!) We understand that bookkeeping for law firms comes with its very own special set of hurdles. Law firm bookkeeping requires specialized software that is tailored to the unique…

Bookkeeping Basics: Chart of Accounts

We are bringing it back to basics with this blog, the first of a series revolving around basic terms that you hear in the bookkeeping and accounting world. Today we want to discuss Chart of Accounts. What is it? What role does it play? Why is it important? We’ll be clearing all of these up…

Petty Cash 101

Many businesses need to have petty cash on hand. Beyond keeping a sum of cash at the ready for small purchases what else do you need to know about it? Here is an overview… Petty Cash 101! What is petty cash? Petty cash is a small sum of company money that is on hand and […]

QuickBooks: Recurring Payments

At Bakersmith Bookkeeping we understand and value that you want to spend as much time as possible dedicated towards making your business better. A lot of that time can be taken up sorting through your books, sending payments, tracking invoices, etc. This is why we recommend QuickBooks! It is an…

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