Accounting and Payroll Articles & Guides

Published: 05/25/2021

If you spend any time learning about small business accounting, you’ll likely come across the term “double-entry accounting.” But what is double-entry accounting?

Published: 05/08/2020

With business slowing down for so many, it may seem less urgent to keep your financial records current. But it’s more important than ever to stay up-to-date so your business has the best chance to stay healthy, too. Here’s how you can stay prepared during these unprecedented times.

Published: 09/01/2017

There has been a lot of change in the accounting software industry over the past ten years. If you or a company you know of has endured your software company’s being purchased, you know that the process can be painful. The software’s support, enhancements, training and other aspects of the company’s service can all be affected in the changeover. Here is ten things to keep in mind when choosing accounting software.

Published: 08/16/2017

Just as your business has its own set of jargon or industry-specific terminology, so does the software industry! If you are searching for accounting software or payroll software, the likelihood of hearing these terms is fairly high. Be prepared to speak with software representatives by understanding these key terms, and you will have a better chance of your needs being understood and met.

Published: 08/09/2017

Red Wing Software specializes in providing software at a reasonable price to companies who are outgrowing their current software and need more functionality, especially where inventory is concerned. Through this experience we have discovered many ways that our customers have saved valuable resources by improving their inventory management. This article shares some of the insight we have learned over many years of customer communications.

Published: 08/07/2017

As a former business owner, I can remember singing this tune over and over again. Owning your own business, no matter how big or small it is, comes with many opportunities and unfortunately, some headaches, okay a lot of headaches. I remember when my husband and I started our business with a couple who had been high school friends of my husband; we certainly lacked a basic knowledge of business. But what we didn’t know about business practices, we made up for in enthusiasm and ignorance. You know what they say, “ignorance is bliss”. I eventually learned this to be false.

Published: 08/07/2017

Remember the days in grade school when you were learning to calculate ratios, and wondered when it would ever benefit you in real life? Well, it turns out that using ratios can actually make a big difference within a business. Using accounting ratios can help you pinpoint areas of strength and weakness in your business, so you can increase profits and reverse negative trends. If an accounting ratios function is available within your accounting system, be sure to make use of it. Using ratios can make a big difference; here’s how.

Published: 08/04/2017

Business is rolling along just fine, and then suddenly you realize it’s year end! You think, “How does that sneak up on me every single year?”

Well, the answer is you are likely busy running your business! However, if you can get some preparation time in before year-end, being proactive will almost surely pay off. In fact you can save yourself a large dose of year-end panic by taking the following steps before year-end hits.

Published: 08/02/2017

This question is one Red Wing Software is asked frequently, being an accounting software company. Making the decision to move to a different software package can be tough, especially taking into consideration all the additional work in transferring data and learning the new system. Even so, your business needs change; software becomes outdated, and sometimes switching software is best for your business. So, when is the best time to switch?

Published: 07/20/2017

These days, technology enables us to choose from a wide variety of installation types for accounting software. Which option is best for your business? It’s hard to know the answer without understanding the difference between these three terms.

Published: 07/03/2017

Accounting is a crucial financial management component of any business. Good accounting records can help a business understand where money is going and where profits are coming from. However when errors are being made, things can take a turn for the worse in a hurry. Discover three accounting errors that can be easily avoided in an accounting program.

Published: 06/07/2011

Switching software might not be as fun as going skydiving or going out to dinner with friends, but it’s often a necessity. Still, many businesses put it off and avoid the issue for as long as possible because they simply cannot bear the thought of disrupting the whole office with the transition. Nobody would blame you if you were one of them! There are some key things you can do to make the transition easier.

Published: 06/07/2011

Handling the accounting for a business can be time-consuming, and that’s why it’s important to use any tools at your disposal to reduce unnecessary additional work. Accounting systems contain features that can help reduce work and also increase accuracy. Here are some of the features included in accounting systems that can help streamline accounting.

Published: 04/13/2011

This worksheet can be used as a guide to help your organization find the best accounting software application for you. Consider each field of information and fill in the appropriate answer for your needs. Send this check list to accounting software vendors you are interested in, or simply use it as a guideline when talking to vendors.

Published: 01/30/2011

The newly passed and signed 2010 Tax Act, formally named the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, includes several provisions that will affect taxpayers. Here is the information you need to know now about this legislation, formally named the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010.