Accounting Mosaic

Inventory

Any business that buys and sells products has inventory. eCommerce businesses by definition have inventory. If you look at a simple retail business, they buy products from a wholesaler or

Read More »

Section 179

This is a special election a business can make to take advantage of the full expenditure as a deduction in the first year. Most companies will elect to do this

Read More »

Purchase Order

A purchase order is just that and nothing more. It’s an order to purchase something. No money has changed hands, and no expense has been incurred. Accordingly, a purchase order

Read More »

Cash Basis Accounting

Cash Basis Accounting means income and expenses are only recorded when paid. In the strictest sense, this means no accounts receivable and no accounts payable exist. In theory, this means

Read More »