Will Trump’s “One Big, Beautiful Bill Act” Make or Break Your Business?

Holding crypto on your balance sheet doesn't automatically mean you can report it under ASC 350-60. The new standard offers fair value treatment, but only for assets that meet a strict set of criteria. If they don't, they must follow the older, more limited accounting rules. Feel free to reach out to Unified Global for a clearer distinction between the two.

We're huge advocates of building healthy, human relationships with clients. They're our bread and butter after all. But when payments come too early or too late -- which, by the way, 93% of organizations experience – you can only point to their patterns for so long. You have to check your own yard too. The next time you're caught up on invoices, ask yourself: “is client behavior to blame, or are my systems just struggling to speed up?”

In the world of business, there are only a few things more frustrating than delayed payments. No one wants the challenge of having to chase money that you’re entitled to – it’s like finishing a marathon, only to find out that the race host had run off with your medal. In fact, one-third of merchants claim that payment delays put their business at risk of closure.

Before Unified Global had to follow ASC 350-60, companies holding cryptocurrency faced a frustrating problem: there was no specific accounting standard to guide them. Most businesses defaulted to treating crypto as an intangible asset under ASC 350, not because it made the most sense, but because it was the closest match.

Once treated as a speculative experiment, cryptocurrency is now firmly on the radar of CFOs, controllers, and strategy teams. Whether your business holds it on your balance sheet, accepts it as payment, or simply tracks it for competitive awareness, crypto is slowly becoming a crucial knowledge.

While ASC 350-60 brought long-awaited clarity for cryptocurrency accounting, it didn't cover everything. In particular, it left out non-fungible tokens, or NFTs. For businesses that hold NFTs as part of their crypto activity, this exclusion means going back to the old framework. And because NFTs operate very differently from fungible tokens like Bitcoin or Ethereum, the accounting treatment reflects that complexity.

Congrats! All your financial records are finally caught up. Once your books are back in order, the next challenge is making sure they stay that way. Good bookkeeping is a process of perfection. The key is building a routine that keeps errors small, if not non-existent, and prevents major messes from forming in your financial anatomy. Unified Global's gold standard for bookkeeping consists of several complex tasks that keep our clients’ records in top shape. For the benefit of small businesses, we’ve managed to narrow them down to three knowledge tidbits.

Let’s face it: nobody raises capital with a pristine balance sheet. And if they do, they’re probably not the ones pitching investors; they’re the ones making the investments. The rest of us? We’re founders growing businesses, solving real problems, and trying to juggle customer demands, payroll, and investor decks on a timeline that always feels too tight.

Every owner will tell you that running a business is no small feat. You have to juggle sales, stuff, and basically survival, so it’s no surprise that bookkeeping sometimes falls through the cracks. But when mismatched numbers, missing invoices, or tax-time panic start piling up, it’s time to pause and figure out just how messy things have gotten.

Ever looked at your bank balance and wondered why it didn’t match what your books say? Such moments should have been resolved through account reconciliation. It’s the process of comparing your actual transactions against what’s recorded — and it’s one of the most critical steps in getting your bookkeeping back on track. This essential process helps uncover errors that need correcting and identifies missing transactions that must be added.