Double-entry accounting, a fundamental accounting concept that has been used for centuries, is a systematic method of recording financial transactions that ensures accuracy and accountability. “Double entry” comes from the fact that every transaction involves at least two accounts, with debits and credits entered to maintain a balance. This approach follows the accounting equation where…
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What Is a Business Insurance Deductible?
A business insurance deductible is the amount of money that a policyholder and insurance carrier agree upon will be paid by the policyholder in the event of a claimable loss. This amount is paid first by the policyholder before anything is paid out under the policy. How a Business Insurance Deductible Works How a business…
Jury Duty Policy: State-by-State Guide (+ Free Sample)
When an employee receives a court-ordered document calling them for jury duty, you, as the employer, must provide them with time off to attend to it. This is where having a jury duty policy will come in handy—it will outline who is eligible, whether it is paid, and what process to follow. Although federal law…
What Is a Scrum Board? Everything You Need to Know
A scrum board is a visual tool that breaks down tasks in a project into sprints or specific periods of time in which the work must be completed. Often used in software development projects, it improves team collaboration, as everyone sees the tasks and progress in real time. It lets managers immediately spot bottlenecks that…
W-9 For Contractors: What It Is & How to Fill It Out
W-9 for contractors is a form that gathers basic information about independent contractors, like name and Social Security number. The W-9 form is used to verify a contractor’s tax ID number in order to report earnings (>$600) for the year. The form is easy to complete and doesn’t need to be submitted to the IRS….
What Is UCaaS? Defining Unified Communications as a Service
Unified communications as a service (UCaaS) is a cloud-based solution that combines calling, texting, conferencing, and collaboration tools within a single platform. Adopting a UCaaS solution enables businesses to access a wide range of communication tools from anywhere with minimal upfront costs. This article defines “what is UCaaS?” and explores the top providers, benefits, and…
Small Business Insurance Illinois, Costs & Requirements
In Illinois, small business owners play a key role in providing employment and contributing to the economy of the state. Illinois small business insurance requirements are workers’ compensation and commercial auto, with some exceptions for when other coverage may be required. However, owners need to take into account the type of business and the risks…
New Employee Welcome Email: How to Write, Templates & Types
A welcome email to a new employee is one of the most important communications you can have with a new hire. It not only gives them the information they need to start their new employment with your company but also sets the tone for their journey. As such, it should be friendly and informative but…