Let me tell you something I’ve learned after years of working with small business owners: small business bookkeeping services aren’t optional —they’re essential. Yet, I can’t tell you how many times I’ve heard, “I’ll just handle it myself for now,” only for that same entrepreneur to call me months later, panicked because they’re behind on taxes, lost track of cash flow, or worse—being audited.

So if you’re a business owner juggling everything from sales to payroll to ordering inventory, this one’s for you.

If you’re a small business owner, understanding the difference between an asset and an expense is crucial for maintaining accurate financial records. Properly categorizing these items can help ensure your financial statements reflect the true value of your business. But when should you capitalize an expense, and when should it be recorded as an asset? Our team at Clear Path Bookkeeping is here to help!