Bookkeeping

Sign up for accounting software to easily create and manage your opening balance equity account here. If you’ve checked everything over and can’t pinpoint an error, I’d recommend reaching out to an accountant. They can clear out accounts and ensure your opening balance is entered correctly. Once you create a bank account and enter an […]

For example, it automatically sends a client a message a few days before their payment is due. It is vital to keep track of invoices issued and received for accounting sales and purchases in the books of accounts. Hence, it is important to assign invoice numbers for each invoice for easy tracking. Because invoices are

Looking for an overview of credits, e-filing, or contesting your property assessment? We may be able to walk you through the filing process with a video demonstration, or get you up to speed with our educational videos for income, property, and business taxes. Log in to your Business Online Services account to Web File your

The amount of the bonus paid by the partnership is distributed among the partners according to the partnership agreement. The partnership agreement may specify that partners should be compensated for services they provide to the partnership and for capital invested by partners. As ownership rights in a partnership are divided among two or more partners,

Only public companies are legally required to prepare the P&L and other financial statements and file them with the SEC annually and quarterly. To ensure a proper understanding of profitability, accountants use accrual accounting to prepare the P&L statement. Accrual accounting recognizes revenue and expenses when they occur rather than when money is received or paid.

To make the best possible financial decisions, it’s important to fully understand your company’s financial position and analyze potential outcomes. These figures should serve as a rough guideline to estimate the range of your budget for outsourced finance services. Even if you have the numbers, not being able to interpret and understand them also calls

Then, effective January 1, 2025, most salaried workers who make less than $1,128 per week will be eligible for overtime pay. CWHSSA also applies to most federally assisted construction contracts. Extra pay for working weekends or nights is a matter of agreement between the employer and the employee (or the employee’s representative). Who is Eligible

Bookkeeping is the process of keeping track of every financial transaction made by a business firm from the opening of the firm to the closing of the firm. Depending on the type of accounting system used by the business, each financial transaction is recorded based on supporting documentation. That documentation may be a receipt, an

Bookkeeping is not a dying profession, but it is certainly undergoing a transformation due to advancements in technology and AI. I feel bookkeeping should be the recording of transactions using double entry methods, in whatever fashion – but that really should be using appropriate software these days. Actually I don’t like the name book-keepers as