• What is a DBA? Do I need one for my business? If so, how do I get one?

  Wednesday, October 21, 2009

  DBA stands for “doing business as.” It’s known in some states as an “assumed name certificate.” Your DBA is an assumed or fictitious name under which you conduct business. In many instances, a DBA is required before you can obtain a state or local business license. With a DBA, you can use your assumed business name when opening a business bank account, making payments to suppliers, receiving payments from customers, and entering legal contracts. In some states, DBA registration is conducted with a state agency, such as the secretary of state. In other states, you register your assumed name at ...

• What is the Difference Between Accrual and Cash Accounting?

  Sunday, April 05, 2009

  Accrual and cash are the two most common methods of maintaining the books and records of your business. If your business is a sizeable company, your lenders or investors may require you to use the accrual method. The accrual method requires that you record business activity when it occurs not necessarily when money changes hands as in the cash basis. For example, if your business provides entertainers for children’s birthday parties, under the cash method you would record income only when you receive the cash. Under the accrual method, you would record income when the work that you were contracted to provide is completed and the obligation exists ...

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