Remember that accuracy is crucial when filling out 1099 forms, as errors can lead to penalties. Be sure your system is set up to track payments to subcontractors throughout the year. Ours is – we make it E-Z! Trying to gather these amounts at the last minute can be a daunting task!

Right after the year has ended, be sure you’ve reconciled the checkbook to prove your records are accurate, and then use those totals to prepare your 1099s.

To fill out 1099 forms accurately and meet the IRS deadlines, you’ll need the following information:

• Recipient Information:
  • Full name or business name
  • Address (including street, city, state, and ZIP code)
  • Taxpayer Identification Number (TIN) or Social Security Number (SSN)
  • Business entity type (individual, sole proprietor, partnership, corporation, etc.)
• Payer Information:
  • Your full name or business name
  • Your address (including street, city, state, and ZIP code)
  • Your TIN or EIN (Employer Identification Number)
• Payment Details:
  • Total amount paid to the recipient during the tax year. This includes all forms of compensation, such as nonemployee compensation, rent, interest, dividends, or any other reportable payments.
  • If applicable, indicate whether backup withholding is required.
• Form Type:
  • Specify the type of 1099 form you are filing. Common ones include 1099-MISC, 1099-NEC, 1099-INT, 1099-DIV, and others, depending on the type of income being reported.
• Provision Deadline:
  • Most 1099 forms must be provided to recipients by January 31st of the following tax year. The 1099-B and 1099-S forms must be provided by February 15th. If either deadline falls on a weekend or holiday, the deadline is the next business day.
• IRS Filing Deadline:
  • Paper filing of 1099 forms with the IRS is due by February 28th (or the next business day if it falls on a weekend or holiday). If you file electronically, the deadline is March 31st.
• Electronic Filing:
  • If you have more than 250 forms to file, the IRS requires electronic filing. However, electronic filing is also an efficient option for smaller numbers of forms.

After you complete the forms, provide copies to the recipients and submit the required copies to the IRS before the specified deadlines. It’s important to keep copies of all 1099 forms and related documentation for your records, as well as maintain a record of the dates when you provided the forms to recipients and filed them with the IRS.

Read this overview of your year-end tax opportunities before you meet with your tax planner to strategize.

First, organize your financial records

Effective tax planning begins with well-organized financial records and good tax planning strategies. As the year comes to an end, take the time to ensure your financial documents are in order and completely up-to-date. This simplifies the tax preparation process and helps you identify potential added deductions and credits. Start by categorizing and reconciling your receipts, invoices, and other financial documents. Accounting software like Big E-Z streamlines this process considerably. Ensure all your transactions are accurately recorded, and reconcile your accounts to catch any discrepancies. Big E-Z includes built-in bank account reconciliation, and our system will show you if your records are out of balance or you have missing transactions. Once you have all your records together, you’re ready to talk to your accountant about your year-end tax planning strategy. The following are some topics and actions you might discuss with them:

Make retirement contributions

Review your current contributions to retirement accounts, such as 401(k)s or IRAs. Maximize your contributions to take advantage of available tax deductions. If you have employees, ensure that any employer contributions are in line with your business strategy. Understand the contribution limits and deadlines for each type of retirement account.

Review employee benefits and payroll

The end of the year is a good time to review and address payroll and employee benefits. Verify that your employee payroll records are accurate and up to date. Ensure compliance with tax withholding requirements and make any necessary adjustments. Review employee benefits, such as health insurance and retirement plans, and communicate any planned changes for the upcoming year. Contributions to employee retirement plans, health insurance premiums, and year-end bonuses are often deductible. Ensure that these expenses are accurately recorded and comply with applicable tax regulations.

Evaluate your expenses to maximize tax deductions

Tallying up all your expenses for the year not only ensures accurate financial records but also positions your business to take advantage of all the available deductions. Categorize your expenses into the relevant tax categories. Common categories include: office supplies, utilities, rent, insurance, marketing, and professional fees. Big E-Z makes it easy to categorize your transactions when you import them each month (or at your own pace). Now, summarize the total expenditures in each category to get a clear view of what deduction categories would be most impactful to you. Check out our extensive  List of Tax-Deductible Expense Categories for Small Business Industries and click through to see the deduction list for your own industry.

Decide on major purchases

Toward the end of the year, small businesses often face the decision of whether to make major purchases now or defer them to the next calendar year. This decision is not just about business needs but can significantly impact your tax position.

Assess current and future financials

Before you decide on major purchases, evaluate your current financial standing and projected income for the next year. If your business had a profitable year and you anticipate a similar or increased income in the upcoming year, making major purchases before year-end could provide immediate tax benefits by offsetting your taxable income. On the other hand if the current year has been financially challenging, and you anticipate a more profitable upcoming year, it might make more sense to defer major purchases. That way you can maximize deductions at a time when your business is in a higher tax bracket.

Understand Section 179 and depreciation deductions

Consider the tax implications of the Section 179 deduction and the depreciation deduction. Section 179 of the tax code allows businesses to deduct the full purchase price of qualifying assets purchased or financed during the tax year. However, the Section 179 deduction has annual limits. If your Section 179 deduction is already maxed out for year, further deductions are taken over the lifetime depreciation of the asset purchased. You can choose not to take the full Section 179 deduction and get a larger depreciation deduction instead. Consider the Section 179 limit and the depreciation methods that will be used for your asset, so you and your accountant can determine what manner of deduction is available to you.

Analyze market conditions and vendor incentives

Research the current market conditions and vendor incentives. Some industries offer end-of-year discounts or promotions to stimulate sales. Consider these, and ensure that the purchase aligns with your long-term business strategy and needs. The decision of when to make major purchases involves a careful consideration of your business’ current financial status, future projections, and the potential tax implications. By weighing these factors, you can make informed choices that align with your business goals and optimize your tax position. Remember to consult with your financial advisor / tax professional.

Capitalize on your year-end tax opportunities

By understanding the state of your business and the tax deductions available you, you and your advisor(s) can optimize your tax strategy. It all starts with having organized financial records that tell a complete story. Big E-Z is here to make that part easy, so when December comes around you have everything you need to make those year-end decisions.

While we hope and search for free things, nothing can ever truly be free. As the old adage goes, “You’ve gotta spend money to make money.” When starting and running a small business, staying on top of your finances is absolutely essential. There is no shortage of varying accounting software, ranging in price from top to bottom. And while a few claim to be “free,” there are hidden charges, upselling tactics, and frustrating pop ups designed to fund their businesses. Your time is valuable; as we’ve all heard, time is money. Since your time is money, these free services are actually costing you. Using the right accounting software can also save you time, nearly an hour a day. Accounting software doesn’t have to break the bank, and there is real value in finding the correct paid service for your needs and comfort level.

Free Accounting Software

Accounting software can be pricey, ranging from $9 to $999 per user, per month.  By 2026, the global market for accounting software will be valued at $11.8 billion. Many accounting software companies promote either a free option in their suite of products or a lite version of their software. In either scenario, the end game is the same. These free options are designed to operate at a lower standard, and upsell you into other services. In a lite version of a software, you will be subject to continuous pop-ups to purchase the full version, while also lacking the functionality you need. With standalone free services, money-making options can often be hidden to you. Services may charge for credit card transactions, payroll, or other services. In a small business, profit margins can be minute. These small 2.9% fees can be the difference between your profit and being in the red. Long term, there is no guarantee that these services will stay free. A business needs revenue to function. By choosing a correct paid service now, and budgeting for that expense, you save yourself in the future from an unexpected change or cost. When comparing these options, they always leave out one or more important functions you will need. From limiting your accounts to device availability, these are functions you don’t want to compromise. Most small business owners have multiple accounts. Some of these free services might limit you to only one account, causing confusion and frustration when you try to reconcile. Creating your own spreadsheets might seem appealing, but they lack advanced features you need. Other free services might prohibit you to only one device. When you’re on the go, it’s helpful to have access to your accounts on any device necessary.

Protection

There is added protection when using paid versions of software. In your initial setup process, finances can be overwhelming. You could find yourself paying 2-3x the software price on a consulting firm or CPA to simply get the software rolling.  Free versions do not offer the customer support of paid services. They are not backed by professionals to assist you, nor do they have the experience this knowledge provides. Big E-Z, for example, has checks and balances in place to prevent you from going down a wrong path with your accounting. Through years of trial and error, we’ve worked through kinks and bugs to make your life simpler. With AI on the rise, technology poses to replace nearly 94% of accountants and auditors (Source: Accounting Today). Being ahead of this trend, and working with educated professionals now, only poses to aid the longevity of your small business.

Accounting Expenses

On average, American small businesses spend between $1000-$5000 a year on accounting expenses. These overhead costs are a necessary expense that cannot be overlooked. With well-kept records, you save both time and money. Nearly 75% of accounting firms charge extra for poorly kept records. Being ahead of the curve will serve you greatly long term. Saving yourself time and frustration only leads to benefit your business, as your mental state can affect other areas within your business. Most small business owners are spending 40+ hours on tax preparation. With the appropriate software, support, and records, you can find yourself with more time to dedicate to what really matters in your business: generating income.

Big E-Z Accounting Software

At Big E-Z, we have spent years streamlining to create a highly efficient bookkeeping software. With decades of bookkeeping experience, we know the ins and outs of these frustrating systems. We have worked tirelessly, with the help of CPAs, to make sure this software is the best it can be for you. Our flat yearly rate is set in place to help you maximize your profits and aid in removing stress from your life and with fewer bells, whistles, and popups. We offer a free consultation in initial setup, just one point of our top-tier customer service.

You have probably heard the expression “Cash (flow) is King”. This is precisely why you want to operate your business in real time and be able to view a dashboard of accurate balances every day!  Otherwise, how do you know if you can afford to pay your bills next week, cover payroll, or purchase that next big item? Follow these three steps to see how you can operate your business in real time. 1. Use an accounting tool that is streamlined to save you data entry time. This can’t be stressed enough. If you are using a system meant for a larger business you could be wasting precious time. To correct entry errors in that large system can be daunting. You don’t have time for that!  If you view your current system as a time waster, you are less apt to use it. If the snowball keeps getting bigger and bigger, consider using a more streamlined and small-business-oriented system like Big E-Z. 2. Enter data as it happens. Whenever you write that check, record it in your accounting system that day. Whenever you make that deposit, record it that day. Whenever you transfer that money or put a purchase on that credit card, record it that day. Once your data entries are categorized and reconciled, be assured your balances are accurate. In reality, daily data entry can be time-consuming and difficult to accomplish. However, this is a very necessary task if you plan to meet with an accountant to forecast and budget for next year. 3.  View your dashboard for daily accurate balances. If you choose to record in real time, your dashboard will have daily accurate balances including a list of all pertinent totals to help you stay in control of your business. Examples include your current cash available, direct cash flow amounts, assets, liabilities, and profits, etc. You can view an example dashboard displaying daily accurate balances using our Big E-Z Sample Company Demo. Congratulations! Now you are operating in real time. Your records are completely up-to-date and you are totally in charge of your finances! You know exactly where you stand and can make better business decisions.

Our Low Cost Accounting Software is E-Z to Use

Use Big E-Z’s efficient spreadsheet template and the power of Google Sheets to collaborate with your clients. It’s the perfect solution that allows you to save money and provide excellent financial reporting too. Streamlined to save you time and make you more profitable. You will find the Google Sheets spreadsheet format is very familiar to you; importing is a breeze and seeing your client’s data in rows and columns all on one page really speeds up the categorization process (see our Sample Company Documents). It’s so E-Z to tell if you are in balance. Also we have three ways to spot and correct entry errors, and you’ll love the automatic reports (see our Reports video).

What is the Big E-Z System?

Big E-Z is a complete double-entry system with checks and balances designed for entities that operate on a cash basis. Bookkeepers use it for write-up, after-the-fact client accounting. Big E-Z Accounting for Google Sheets Add-on allows real-time collaboration with your client.

You can take advantage of this limited-time offer to have your client’s books up and running in 3 days. It’s all part of the stellar support we provide!

Ideal for All Your Small Business and Nonprofit Clients

This will best fit your small service-type business and nonprofit clients. Most of these entities will use an outside payroll service or are self-employed.

It is also for those who don’t have large inventories or print batches of checks, and it works for entities whether they follow a fiscal or calendar year. It’s a simple, streamlined, and affordable alternative to QuickBooks.

Stellar Customer Support for Over 30 Years

Big E-Z is known for stellar U.S.-based support and helping clients get set up and obtain organized accounting records. Extensive resources like our user guide, knowledge base, videos are included.

Your Clients Will Thank You Later

Want to discuss how we can help you in more detail? Schedule a Zoom meeting for a demo or try it Free for 14 days. Your clients will thank you later!

Tip #1: Start Early in the Morning

Start early in the morning when you are fresh. If you are working late at night when you are tired, you are more apt to make mistakes.

Tip #2: Keep a Steady Pace

Key your entries at a slow and steady pace. Trying to enter data too fast can lead to errors. Also, by switching around tabs too quickly, the program may not have enough time to protect the newly-opened sheet and at times will leave a cell unprotected for a split second.

Tip #3: Double Check as You Go

Common sense tells us to double check our work. Review your entries as you go. Look for signs that something is amiss. Take a look at the totals with a critical eye. The totals should make sense to you. If you knew your sales were about $100M for the month but your income statement says $10M you know something is wrong and need to check into this further.

Tip #4: Check for Transposition Errors

Transposition errors happen frequently and are caused by inadvertently switching two adjacent numbers.  For example if you enter the number as 528 instead of 582. Divide the amount you are off by 9 to determine if you made a transposition error. In this example you would be off by 54, and 54 is divisible by 9. Voila – you found the error!

Tip #5: Reconcile Every Month

Reconcile your checkbook each month. You should compare the entries you make on your books with what the bank shows and note any discrepancies. If you are still getting paper statements, ask your bank for statements that cut off at the end of the month instead of the middle. This will make the reconciliation process much easier.

Tip #6: Select a Program That Is Easy to Correct in the First Place

You’ve come to the right place. Our Big E-Z Accounting for Google Sheets has a built-in feature to help you find and correct errors. If you forget to categorize some transactions they will show up on the Uncategorized List, and if you make an error transferring between accounts the system will provide you with a list of errors on the Transfer List.

Hoping you find these time-saving tips helpful since your time is very valuable.

If you work from home, you should know about the home office deduction, which may allow you to reduce your tax liability.

What is the home office deduction?

The home office deduction is a type of tax deduction that allows you to deduct the portion of your home expenses that are directly related to your home office. The deduction reduces your taxable business income. This lowers your tax liability, getting you a smaller tax bill (or larger tax refund). However, it’s important to follow the IRS guidelines and keep accurate records of your home office expenses to ensure you’re claiming the deduction correctly.

All the Big E-Z accounting systems add your industry specific deductible category lists to make financial recordkeeping E-Z for you.

Am I eligible?

To be eligible for the deduction, you must be using your home office “regularly and exclusively for business.” That means you don’t use your home office for non-business activities (within reason—a good rule of thumb is to avoid activities that wouldn’t be permitted in a corporate office). Remember, this deduction is all about the expenses you’re paying to maintain an office in order to run your business. That leads into the second requirement: it must be your business. Employees are not eligible. It is not required that your office be in a separate room of the home (it can be in the same room as your bed, for example). However, you’ll still need to define the office area within that room, for the purpose of deduction calculations.

Calculate your deduction

There are two ways to calculate your home office deduction, referred to by the IRS as the simplified method and regular method.

The simplified method

The simplified method is the easier way to calculate your home office deduction. You simply deduct $5 per square foot of your home office space, up to a maximum of 300 square feet. So, for example, if your home office is 150 square feet, you can deduct $750 (150 square feet x $5) from your taxable business income.

The regular method

The regular method is more complex, but it may give you a larger deduction if your actual home expenses are high. You deduct a portion of all your home expenses, proportionate to the size of the office space in your home. Your home expenses include rent, mortgage interest, property taxes, utilities, insurance, repairs, and maintenance. To use the regular method, you need to calculate what portion of your home is used for business, by area. For example, if your home is 2,000 square feet and your home office space is 200 square feet, your home office is 10% of your home’s square footage. So you could deduct 10% of your home expenses from your taxable business income.

Which method should I use?

You’ll likely need to do the calculations with both methods to determine which is the larger deduction. As a rule of thumb, if you’re paying rent or are paying a mortgage with high interest, the regular method will probably be better for you.

How do I claim the deduction?

To claim the home office deduction, you must complete IRS Form 8829, Expenses for Business Use of Your Home when you do your taxes. Taking the home office deduction can draw more attention from the IRS and increase the possibility of a tax audit. So, be sure to follow all the rules and maintain accurate records to support your claim.

Note: Before you take a home office deduction for mortgage interest or depreciation, consider the long-term possibilities. If and when you sell your home, if you claimed the home office deduction, the deduction may affect your capital gains taxes. Keep in mind the depreciation you claimed for your home office may affect the capital gains tax exclusion allowed from the sale of your primary residence. We recommend you consult with a tax professional or review the IRS guidelines carefully.

Tip: Big E-Z makes it easy and affordable to track your business expenses, giving you easy-to-read financial documents that ensure your books are accurate.

Conclusion

The home office deduction can help you save money on your taxes if you work from home. Evaluate your eligibility, choose a deduction method, and make sure you have accurate records of your home office expenses throughout the year.

In This Article

• What is Direct Connect?
• Why not use Direct Connect?
• What are the advantages of Direct Connect
• Conclusion

Connecting your banks to your financial management software through Direct Connect bank feeds may seem convenient and secure at first glance, but the reality can often be disappointing. Security concerns, privacy concerns, and unpredictable outages routinely plague this technology, to the point that it may be time to return to a more manual approach.

What is Direct Connect?

Direct Connect, also known as “automated bank feeds” or just “bank feeds,” is a feature offered by many financial management programs that allows them to automatically import data from customers’ bank accounts.

Some popular users of the Direct Connect protocol are Mint (a budgeting and finance tracking web application), Quicken (a desktop application with similar features), QuickBooks (like Quicken but for small businesses), Personal Capital (financial management software focused on investments) and YNAB (“You need a budget”—also for individual finance tracking). These applications and many others use Direct Connect as the default way to get data from your banks. They often import account balances as well as transaction information on a regular basis.

Why Not Use Direct Connect?

Here, we’ll look at three main drawbacks to Direct Connect that we believe are seldom pointed out to customers.

Security Concerns

Using automated bank feeds involves sharing your bank login credentials with your third-party accounting software. The accounting software can then access your account(s) at will. That essentially means that if it ever gets compromised, your bank account(s) will be compromised as well. Ideally, the accounting software would have “read-only” access to your bank details, but often it requires full account access—theoretically, it could move money and make transactions in your account.

On top of that, the protocol that banks use to connect to accounting software is less secure than what they use for their customers. The accounting software often isn’t required to do multi-factor authentication, even when the bank does use that standard for ordinary customer login. You can read more about these issues in Your Bank’s Digital Side Door.

Privacy Concerns

It goes without saying that once you connect your banks to your accounting software, that software can view everything that happens in your bank account. That’s sure to include some information that you’d rather not share, such as personally identifiable information. When your accounting software has access to this, it increases the risk of that information getting leaked or stolen someday.

Service Failures

Perhaps the most relevant downside of automated bank feeds is the occasional unexpected failures to import the data from your bank. On any given day, you could log in to your financial software and find that it hasn’t pulled in the latest data, and you’re unable to trigger a fresh import.

Because automated bank feeds happen “behind the scenes” between two institutions, there’s very little you can do as a user to “fix” a broken or blocked connection. That’s why you can find many support posts all over the Internet of users asking what to do to fix their connections.

This situation can be especially frustrating. You often won’t know why the outage occurred, nor when it will be fixed. You’ll have to wait for a support rep at the bank, or the accounting software, or both, to resolve the issue.

What are the Advantages of Direct Connect?
While the drawbacks of Direct Connect are kind of hidden, the advantages are more obvious: your data is imported without any work needed on your end, and it’s very accurate.

It should be noted, however, that the alternative to Direct Connect is not entering every transaction by hand. That would indeed be labor-intensive and prone to mistakes. Rather, most banks offer file-based import which is a process where you download a document from your bank, upload it to your accounting software, and then the software interprets the information in that document. It benefits from the accuracy of automation, and it doesn’t give your accounting software login access to your bank. It also doesn’t take long at all, especially if you only need to refresh your data monthly (which is often recommended).

Conclusion

It might be time to ditch Direct Connect bank feeds. They may appear to be a convenient and secure way to bring your financial data into your accounting software, but there are significant drawbacks to this technology that you should consider before you use it. Security concerns, privacy concerns, and service outages are a few of the issues that could come up. On top of all this, some financial institutions actually charge additional fees for the privilege of using Direct Connect!

These drawbacks may make it worth considering a more manual approach to managing your finances, such as file-based import.

File-based import is available in Big E-Z accounting software. After you set up and label the data columns the first time, you can import subsequent documents with ease.

Writing financial statements can be daunting, especially if you’re a small business owner. Maybe working with numbers and spreadsheets isn’t your area of expertise, or maybe you’re just new to all of this and need some help getting started. “What goes into a balance sheet?” “What do I count as an asset?” “How should I categorize these expenses?” This short post will take you through all the basics, with examples, so can conquer the paperwork and get back to doing what you love. Financial reports and statements are important tools that help business owners understand the financial health of their companies. They provide information on a company’s revenues, expenses, assets, liabilities, and cash flow, and can be used to calculate key financial metrics like the net profit and the net value of the company. By preparing these documents, small business owners can stay on top of their finances and make informed decisions about their companies.

Types of Financial Documents

One of the tricky aspects of financial documents is that there are several kinds, and they often contain some of the same information. This seems redundant at first, but different documents have different purposes. Each one presents its information in a way that’s easy to read and understand for the given purpose. This post will cover the three most-used financial documents: balance sheets, income statements, and cash flow statements. See other less common but very useful financial statement samples. Note: Big E-Z Accounting handles the redundancy for you. Enter your information once at the beginning of the year. Then, enter new figures as needed, and Big E-Z will generate multiple documents using the same source of information, saving you time and ensuring accuracy. See other common financial statements that small businesses and nonprofits use.

The Balance Sheet

The most common type of financial statement is the balance sheet. This document reports the financial health of a company on a particular date. It’s conventional to prepare one at the end of each year, but businesses often write them at various points within the year as well, as a way to verify that everything is accounted for. The balance sheet shows a company’s assets, liabilities, and shareholder equity at a specific point in time.

• Assets are anything of value that the company owns: that includes things like savings accounts, investments, as well as equipment and real estate.
• Liabilities are a company’s financial obligations (debts). They include things like taxes owed, mortgage, and other loans.
• Shareholder equity is the amount of money held by all shareholders. In other words, it’s the total value of the company. This number should be the same as the assets minus the liabilities. So, when Shareholder equity = Assets – Liabilities, then your books are balanced

It can be hard to remember all the categories of assets and liabilities. Big E-Z provides pre-formatted sheets that are customized to your business type, so you won’t leave anything out.

Income Statement

The next type of financial statement is the income statement, also called the income & expense statement or profit & loss statement. This document shows a company’s revenues and expenses over a specific period of time, typically a quarter or a year. It includes information on sales, cost of goods sold, operating expenses, and net income. It’s used to determine how much money a company is making and how much it’s spending. Ultimately, it gives you the company’s profit margin – the percentage of revenue left over after all the expenses have been paid.

Cash Flow Statement

The third type of financial statement is the cash flow statement. This document shows the overall cash movement into and out of a business, usually over a monthly period. It gives a detailed breakdown of cash transactions so you can assess the profitability of different business activities and identify potential cash flow problems. The cash flow statement is broken down into three sections: cash flow from operating activities, cash flow from investing activities, and cash flow from financing activities.

• Operating activities, the most common, are the ordinary day-to-day transactions of the company. They include inflows from sales, as well as outflows from wages, overhead expenses, and taxes.
• Investing activities are the buying and selling of investments such a real estate, equipment, or shares of other companies. This section, combined with operating activities, shows how much of a company’s income is due to investing in appreciating assets, versus buying assets that generate income.
• Financing activities mark the cash flows due to your company selling shares or debt to others, or buying back shares / repaying debt / issuing dividends. This section shows how the company is financed, from external sources like debt versus internal sources like retained earnings. It also shows how the company’s dividend or stock buyback policies would affect its cash position.

Big E-Z’s Direct Cash Flow document comes with more features than the standard cash flow statement. It compares the summarized cash flow to the starting and ending balances of the year, in order to verify that the books are balanced. It also breaks cash flow down by month so you get a more granular look at your data.

Others

In addition to these main types of financial statements, there are other documents that may be helpful to a small business. These include:

• Budget: A budget is a financial plan for a company that outlines expected revenues and expenses for a specific period of time, usually a year. It’s used to help a business manage its cash flow and to identify potential financial problems.
• Invoice history: An invoice history document is a record of all the invoices that a company has issued to its customers. It typically includes information such as the invoice number, the date the invoice was issued, the customer’s name and contact information, the total amount due, and the due date for payment.
• Sales tax: This is a spreadsheet that a business can use to track the taxes it owes for the sales it has made. It ensures that the business won’t face any surprising fees or penalties when taxes are due.

Big E-Z helps you write all of the above documents, and more. Subscribe by email to access the full list of sample financial documents.

Conclusion

In summary, financial reports and statements are important resources for small business owners, as they measure the financial wellbeing of the business and provide important information for high-level decisions. Big E-Z Accounting takes all the guesswork, memorization, data entry, and formatting off of your hands, so you can get your own financial statements quickly and painlessly.

No Two Clients Are the Same

There are probably 100 different ways to keep your books, as you are probably aware. We provide 3 simple, affordable ways for the do-it-yourself type who wants to save money: online, desktop, and paper ledger system. We find that some users are just more comfortable with the spreadsheet format; seeing their data in rows and columns all on one page instead of viewing page by page of transactions (see our Sample Company Documents). Clients find it very easy to tell if they are in balance and to correct entry errors, and love the automatic reports produced without having to know accounting. (see our Reports video).

What is the Big E-Z System?

Big E-Z is a complete double-entry system with checks and balances designed for users that operate on a cash basis. It is also for those who don’t need to track large inventories or print batches of checks, and it works for entities whether they follow a fiscal or calendar year. It’s a simple and affordable alternative to QuickBooks, FreshBooks, Wave Accounting, Xero, etc.

Online – Big E-Z Accounting for Google Sheets is an Add-on to Google Sheets and allows real-time collaboration with your client (if the sheet is shared with you). Your clients can take advantage of this limited time offer to be up and running in 3 days or they can use it Free for 1 year. It’s all part of the stellar support we provide!

Desktop – Big E-Z Books is a stand-alone Windows based system that doesn’t require the client to have Excel installed. Clients can export reports and email to you to prepare their tax returns.

Paper Ledger Sheets – Big E-Z Bookkeeping has been around for over 30 years and some clients still swear by it. Ideal for the client that prefers a paper system.

Ideal for Small Business and Nonprofits

The clients who use this program are small service-type businesses and nonprofits. Most of these entities will use an outside payroll service or are self-employed. Your clients will still rely on you for tax preparation and the other accounting services you provide. Big E-Z just offers a simple tool to bridge the gap between you and your client’s records.

Stellar Customer Support for Over 30 Years

Big E-Z is known for stellar support and helping clients get set up and obtain organized accounting records. All staff is U.S. based and have bookkeeping knowledge.

Your Clients Will Thank You Later

Want to discuss how we can help you and your clients in more detail? Schedule a Zoom meeting for a demo or try it Free for 14 days. Your clients will thank you later!