Tag: expenses

Keeping Your Receipts Organized

Federal and State agencies require businesses to keep supporting financial documents for up to 7 years, depending on the circumstances. Receipts of all expenditures are required to keep in case of an audit. Over time, receipts can get lost, ink can fade, and the nature of the purchase can be forgotten. Suppose you want to...

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Detail your expenses!

A clear and organized chart of accounts will make your accountant very happy during the tax season. While there is no one size fits all template for a chart of accounts, many categories are standard. Remember, when setting up your chart of accounts in QBO, you will be offered a generic list of categories you...

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