Tim Yoder, Ph.D., CPA

FreshBooks is a cloud-based accounting program that allows you to create and send unlimited invoices, manage clients and projects, and accept payments online. It offers a robust set of features, including double-entry accounting, recurring invoices, project management, and mobile accounting. It has four plans with monthly fees starting at $23 for one user. You can…

Zoho Books is cloud-based accounting software that streamlines various tasks, such as income and expense tracking, invoicing, project accounting, and inventory management. It offers a free plan for businesses making less than $50,000 in annual revenue and five paid subscriptions that start at $20 monthly per organization. Users find Zoho Books’ free plan great for…

QuickBooks Online is by far the most popular small business accounting software in the US. I find it suitable for most small businesses, especially those with inventory and projects or that collect sales tax in multiple states. The primary features are tracking income and expenses, paying bills, invoicing customers, and running reports to prepare a…

The best ecommerce accounting software must integrate with your ecommerce platform to eliminate time-consuming duplicate entries and inevitable mistakes. Changes to inventory and sales recorded in your ecommerce software should flow automatically to your accounting software and vice versa. Another key feature is automatic sales tax tracking across all 50 states. Here are the best…

Section 1250 property is your depreciable real property—like buildings—owned for more than one year and used in your business, trade, or rental activity. It’s important to identify your 1250 property because the gain on the sale of such property is taxed differently than ordinary assets, capital assets, and other 1231 assets. What Is Section 1250…

Depreciation in accounting and bookkeeping is the process of allocating the cost of a fixed asset over the useful life of the asset. The cost of the asset should be deducted over the same period that the asset is used to generate income instead of deducting a large expense when it’s purchased. This provides a…

Section 1245 property is the depreciable personal property—like machinery, equipment, and furniture—that you have used in your business for over one year. It’s a subclass of section 1231 property, but unlike other 1231 property, gain on the sale of 1245 property must be recaptured as ordinary income to the extent that depreciation was claimed on…

The best accounting software for Amazon sellers offer inventory management, comprehensive reporting capabilities, and seamless integration with Amazon Seller Central. A must-have feature for Amazon sellers is accounting software that tracks COGS automatically, which is why our list below is quite short. Here are the four best accounting software for Amazon sellers: : Best for…

The best accounting software for small manufacturing businesses includes key features, such as inventory management, bill of materials (BOM) management, work order management, cost accounting, and inventory management. It could be an enterprise resource planning (ERP) solution, a general-use bookkeeping software with inventory integrations, or a specialized manufacturing software that integrates with QuickBooks Online or…

Managing your finances can be one of the most difficult parts of running a restaurant. Restaurant bookkeeping comes with special challenges—expenses can fluctuate wildly, and your profit margin is often very thin. But by monitoring your finances, you can ensure that your restaurant remains profitable. To assist you, we have collected 12 key restaurant bookkeeping…

Welcome to the Fit Small Business free FreshBooks tutorials. Whether you’re new to FreshBooks or could benefit from a more in-depth understanding of the software, we have provided five tutorials that will help you. Each FreshBooks tutorial includes an in-depth lesson, complete with text and images as well as a comprehensive video demonstration. You’ll find…

In this fifth and last FreshBooks tutorial, we’ll teach you how to print reports in FreshBooks—which includes accessing the Report section, locating the report you need, and printing it in a PDF format. We’ll also show you how to customize the report before printing it, as well as how to export it as a CSV…