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- Refer a Friend | Bench Accounting You'll receive a $150 Visa gift card and a free month of bookkeeping for each referral that becomes a Bench client. Get Started. Referral rewards available ... https://bench.co/refer-a-friend/
- Financial Statements 101 | Bench Accounting Jan 12, 2021 ... On our balance sheet example above, the only liability is a bank loan. But total liabilities can also include credit card debt, mortgages, ... https://bench.co/blog/accounting/financial-statements/
- Bank Reconciliations: Everything You Need to Know | Bench ... Reconciling your bank statements lets you see the relationship between when money enters your business and when it enters your bank account, and plan how you collect and spend money accordingly. 3. To detect fraud. Reconciling your bank statements won’t stop fraud, but it will let you know when it’s happened. https://bench.co/blog/bookkeeping/bank-reconciliation/
- General Ledgers: A Complete Guide | Bench Accounting The general ledger (also called a general journal or GL) summarizes all the financial information you have about your business. It lists every accounting transaction for you to review. In the past, the general ledger was literally a ledger—a large book where financial data was recorded by hand. Of course, it’s still possible to do your ... https://bench.co/blog/bookkeeping/general-ledger/
- Loan Principal and Interest (How To Pay It Off Quickly) | Bench ... Apr 8, 2021 ... Interest is usually a percentage of the loan's principal balance. ... credit card provider, or loan servicer to find out how the lender ... https://bench.co/blog/banking/loan-principal/
- The Best Apps for Managing Receipts [2021] | Bench Accounting QuickBooks: For the accounting-savvy business. QuickBooks offers a receipt-scanning function that plugs into the rest of the app’s powerful suite of accounting tools, allowing you to scan receipts, create expense reports, do your bookkeeping and create financial reports and statements all in one dashboard. QuickBooks has more features than ... https://bench.co/blog/accounting/best-receipt-apps/
- Chart of Accounts: A Simple Guide (With Examples) | Bench ... Nov 21, 2018 ... As you can see on the right, there are different financial statements that each account corresponds to: the balance sheet and the income ... https://bench.co/blog/accounting/chart-of-accounts/
- Drop Shipping and Sales Tax: A Simple Guide | Bench Accounting Jan 17, 2018 ... Sales tax 101; Explain it to me like I'm five; Resale certificates and drop shipping; Working with a drop shipper outside your state ... https://bench.co/blog/tax-tips/drop-shipping-sales-tax/
- What Are Assets, Liabilities, and Equity? | Bench Accounting Nov 25, 2019 ... A simple guide to assets, liabilities, equity, and how they relate to the balance sheet. https://bench.co/blog/accounting/assets-liabilities-equity/
- What I Learned as a Subscription Box Entrepreneur | Bench ... Jul 1, 2015 ... Jameson Morris shares six lessons he's learned from building multiple subscription box businesses. https://bench.co/blog/small-business-stories/subscription-box-business/
- Understanding a Balance sheet (Definition and Examples ... The balance sheet is one of the three main financial statements, along with the income statement and cash flow statement. A balance sheet gives a snapshot of your financials at a particular moment, incorporating every journal entry since your company launched. It shows what your business owns (assets), what it owes (liabilities), and what money ... https://bench.co/blog/accounting/balance-sheet/
- Pro Forma Financial Statements (with Templates and Examples ... Nov 7, 2019 ... While they all fall into the same categories—income statement, balance sheet, and cash flow statement—they differ based on the purpose of ... https://bench.co/blog/accounting/pro-forma-financial-statements/
- A Guide to Nonprofit Accounting (for Non-Accountants) | Bench ... Sep 2, 2021 ... How should you record that “gift”? In most cases, this will involve opening a separate income account in your books for in-kind donations ... https://bench.co/blog/accounting/nonprofit-accounting/
- The Top 19 Self-Employment Tax Deductions | Bench Accounting Nov 4, 2020 ... Advertising. All advertising costs are fully tax deductible. Some examples include the cost of printing flyers and business cards, running ... https://bench.co/blog/tax-tips/self-employment-tax-deductions/
- What is Petty Cash? | Bench Accounting Feb 14, 2020 ... Your company isn't big enough to have company credit cards yet, and you're big on keeping personal and business expenses separate. https://bench.co/blog/accounting/petty-cash/
- Fixed Costs: Everything You Need to Know | Bench Accounting Nov 18, 2019 ... We'll do one month of your bookkeeping and prepare a set of financial statements for you to keep. No pressure, no credit card required. https://bench.co/blog/accounting/fixed-costs/
- Overhead Costs (Definition and Examples) | Bench Accounting Feb 24, 2020 ... Overhead is the cost of staying in business—learn how to track how much you're really earning and build rock-solid profit projections. https://bench.co/blog/accounting/overhead/
- How To Calculate Your Business Valuation | Bench Accounting Jan 30, 2020 ... ... and other proprietary documents; An up to date balance sheet for the business. The more information you have about your business, ... https://bench.co/blog/accounting/business-valuation/
- The Big List of Small Business Tax Deductions (2021) | Bench ... Jul 30, 2021 ... Having separate bank accounts and credit cards for your business is always a good idea. ... A loan that doesn't have to be repaid is a gift. https://bench.co/blog/tax-tips/small-business-tax-deductions/
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A Simple Guide to Deducting Employee Benefits | Bench Accounting
Gifts and gift certificates
Gifts to employees can generally be deducted by your business if the gifts are of “nominal” value.
But even if you keep them small, there are exceptions. “Cash equivalent items” like gift certificates, for example, are considered a part of an employee’s income, so they’re usually not deductible.
Gavekortskjemaer
Gifts to employees can generally be deducted by your business if the gifts are of “nominal” value (read: small).
But even if you keep them small, there are exceptions. “Cash equivalent items” like gift certificates, for example, are considered a part of an employee’s income, so they’re usually not deductible.
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- A Simple Guide to Deducting Employee Benefits | Bench Accounting Dec 6, 2018 ... ... "De minimis" fringe benefits; Meals and lodging; Gifts and gift certificates; Bonuses and awards; Claiming these expenses ... https://bench.co/blog/tax-tips/deducting-employee-benefits/
- Form 1099-K: Everything You Need to Know | Bench Accounting Jan 17, 2020 ... This is any credit card, debit card or stored value (e.g. gift card) card income your business earns that is processed by a payment ... https://bench.co/blog/tax-tips/1099-k/
- 12 Passive Income Ideas to Grow Your Business | Bench ... If you’re a client, you can earn a $150 gift card and a free month of service. Learn more. Earn rental income (on real estate and more) If a closet in New York City can be considered a bachelor suite, you might have something you can rent out as well. https://bench.co/blog/operations/passive-income-ideas/
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- How Do Small Business Loans Work? | Bench Accounting Assuming you can pay your credit card balance in full in that time, it’s effectively a free loan. Credit cards can also give you short-term flexibility when you need to make a purchase today, but your client won’t pay their invoice until next week. Further reading: The Best Small Business Credit Cards [2021] What about online lenders? https://bench.co/blog/banking/small-business-loans/
- Startup Business Loans: 4 Main Options | Bench Accounting Assuming you can pay your credit card balance in that time, it’s effectively a free loan. Credit cards can also give you short-term flexibility when you need to make a purchase today, but your client won’t pay their invoice until next week. Further reading: The Best Small Business Credit Cards [2019] Business grants https://bench.co/blog/banking/startup-business-loans/
- The Top 7 QuickBooks/DIY Mistakes (and How to Fix Them ... Later in the month, when you pay off your credit card balance, you accidentally re-enter the same $50 as a second expense. Now that same client dinner is in your books twice, which means your books won’t balance and your accountant will likely bill you for the time it takes to go back and find the double charge. https://bench.co/blog/bookkeeping/common-quickbooks-mistakes/
- How to Pay Yourself From an LLC [2021 Guide] | Bench Accounting Jul 5, 2021 ... Write yourself a check from your business account for the amount you're taking out of your ... The trick is striking the right balance. https://bench.co/blog/accounting/pay-yourself-from-llc/
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