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Talking Shop

Welcome to Kashoo's blog.

What is an Expense Account?

Depending on the size and type of your business, you may have a long list of different accounts to keep track of, or perhaps just the bare minimum if you're just getting started or your business is very small. No matter how you categorize your accounts, they are going to fall into two basic accounting categories: income accounts and expense accounts. Let's take a closer look at the latter of these two and find out why keeping track of your expense account (or accounts) is so important for your company's financial well-being.

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Topics: Accounting

Tax Day Has Come and Gone

The passing of April 15 often brings a collective sigh of relief amongst the entrepreneurial small business owning community in the U.S. For many, it signifies a huge hassle taking its rightful place in the rearview mirror. But here's the thing: it doesn't have to be this way. Tax time does not have to be some painful annual ritual. Here's how...

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Topics: Accounting

Switching From Cash Basis to Accrual Basis Accounting

If you're a freelancer, sole proprietor, or small business owner who's just getting started with accounting, you may not know the difference between the cash basis of accounting (the "cash method") and the accrual basis of accounting (the "accrual method"). Maybe you weren't even aware that there were two different ways to track your company's accounting. But that's ok! We're about to look at a quick rundown of these two methods, including when you would be likely to use each of them, and how to switch from the cash basis to the accrual basis. This switch is a step that you may find yourself needing to make as your business grows and you want to get a more accurate picture of your company's financial situation.

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Topics: Accounting

Pro Tips for Getting Paid on Time (Video)

Kashoo CEO Jim Secord shares a few strategies on collecting overdue receivables (aka, getting paid on time!) with Inc. Magazine's "The Playbook." Check it out! And while you're at it, check out our tips on how to create a great invoice.

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Topics: Small Business Tips, Accounting

Why a Big Tax Refund Check Isn't All It's Cracked Up to Be

As Tax Day draws near in the U.S., many taxpayers are getting excited about a fat refund check from the government. Totally understandable, right? Well not exactly. Sure, a big refund may seem like a spring bonus, but there are a few deeper implications to consider... 

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Topics: Small Business Tips, Accounting