BooksTime

Personalized, reliable bookkeeping and accounting — for businesses, nonprofits and individuals. Hassle-free bookkeeping for small businesses.

03/13/2026

In accounting, contra expenses often cause confusion because they behave differently from regular expense accounts. Instead of increasing costs, they do the opposite; they reduce total expenses on the income statement. These accounts carry a credit balance, offsetting specific expense categories to reflect the true net cost of operations. Common examples include purchase returns, purchase allowances, and purchase discounts. Explore our guide to learn more about this kind of spending: https://zurl.co/PNikP

03/06/2026

Mess in your books? Control accounts can fix that. They summarize all transactions from subsidiary ledgers, keeping your general ledger accurate and easy to read. This makes errors easier to spot and gives a quick snapshot of your finances.

Reconciliation between control accounts and detailed records ensures correctness. For businesses with lots of daily transactions, this simple tool saves time, improves oversight, and keeps accounting running smoothly. In our article, you can find more information about this topic.

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02/27/2026

Building a sales funnel and attracting new customers is not enough to keep your business profitable. Also, you need to track how money moves through your business. A Sales Journal gives you control over every credit transaction, helping you see who owes what and when payments are due. It is a valuable tool that might be used to oversee cash flow and forecast revenue.

Explore our guide to learn how to maintain a Sales Journal and use it to strengthen your financial management.

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02/18/2026

Therapists spend days helping others, but to build a profitable practice, they themselves need help with keeping books, checking billing codes, and tracking insurance coverage for each patient. These tasks cannot be sidelined, as they directly affect your income.

We prepared a practical guide revealing the basics of bookkeeping for therapists. If you need professional support with your books and financial management without hiring extra staff, the BooksTime team is here to help.

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02/12/2026

In business, every financial decision relies on accounting data, which must be accurate and error-free. Posting is a critical process of transferring journal entries to the general ledger, ensuring every transaction is correctly reflected across accounts. Without it, financial statements lose reliability, and your decisions risk being based on misleading information. Disciplined posting is a strategic edge that supports confident decision-making. Learn more about this accounting procedure in our article: https://zurl.co/9QA10

02/05/2026

As your business grows, financial management becomes more demanding. At some point, entrepreneurs face the same question: whether to keep accounting in-house or outsource it.

In-house accounting offers control but is associated with hiring costs and limited scalability. Outsourcing gives you access to expertise, automation tools, and flexible support without the overhead.

Explore our latest guide to learn the ins and outs of each option and select the best fit for your case.

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01/28/2026

Every business should maintain strict control over cash flow, and the Cash Disbursement Journal is one of the most effective tools for doing so. It tracks every dollar that leaves your company, from vendor payments to operating costs.

The goal behind the well-maintained Cash Disbursement Journal is to reveal spending patterns, improve budgeting decisions, and reinforce internal control. Explore our guide to know the ins and outs of this accounting tool.

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01/21/2026

Modern software helps small business owners handle their books without relying on outside help or hiring in-house specialists. It lets you easily automate tax calculations, track expenses, and organize financial records on your own.

If you’re looking for a platform to manage your bookkeeping, explore our guide devoted to one of these options to see if it fits your needs, or maybe you need dedicated assistance from an experienced bookkeeping team like BooksTime.

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01/16/2026

At the end of each accounting period, firms must verify that their books correctly reflect their financial activity. This is done through a process called balancing off accounts, which helps determine the final balance of each ledger and confirms that all debits and credits are equal.

It’s a simple yet essential step in bookkeeping to keep your financial data accurate and ready for reporting. Learn more about how balancing off accounts works in practice in our latest article: https://zurl.co/mpRQ4

01/09/2026

The purchasing journal is a standard accounting practice. It is utilized to record all credit purchases made by a company. All entries must include essential details: the supplier’s name, invoice date, amount, and payment terms. This structured record ensures that every purchase is documented and can be traced easily during reconciliation or an audit.

In our article, you’ll find an example of such a journal and guidance on how to record transactions accurately.

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12/30/2025

Many companies focus on profit and loss, but cash flow is more insightful when you need to see an accurate picture of what’s really happening inside your business. The cash flow statement shows exactly how money moves: what comes in, what goes out, and what’s left to reinvest or save. Tracking it regularly helps you stay ahead, manage resources wisely, and build a stable foundation for long-term success.

Read more about how to interpret and use the cash flow statement effectively in our guide.

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