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Travel & Entertainment Reporting

Travel & Entertainment Reporting What do people hate worse than filling out an expense report? Answer: being audited by the IRS. While reporting all of your company’s travel & entertainment (T&E) expenses correctly will help you if you are audited, it will not help you avoid that all painful IRS audit. At worst, employees think

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Revenue — billed, collected, earned

Revenue — billed, collected, earned While not every business follows or, for that matter, needs to keep their books on an accrual basis or in accordance with Generally Accepted Accounting Principles (GAAP), I believe it’s very important for everybody running a business to know what the differences are. Let’s start with an example. You sell

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