Bookkeeping

During the year it charged depreciation of $10 and there were no fixed asset additions during the year. Calculate total asset turnover, fixed asset turnover and working capital turnover ratios. Publicly-facing industries including retail and restaurants rely heavily on converting assets to inventory, then converting inventory to sales. Other sectors like real estate often take […]Continue reading

This often happens when the checks are written in the last few days of the month. Regardless of how you do it, reconciling your bank account can be a priceless tool in your 40+ free invoice templates personal finance arsenal. Preparing a bank reconciliation requires a company to take a step by step approach. The […]Continue reading

Upon confirming the reconciliation, the process concludes, showcasing the financial harmony between the records and the bank statement. It’s recommended to reconcile your checking, savings, and credit card accounts every month. Once you get your bank statements, compare the list of transactions with what you entered into QuickBooks. You will then mark each transaction as […]Continue reading

As with performing payroll functions in-house, applicable taxes must be withheld by the provider before payments are made. The process of managing employee payroll is often time-consuming—unless, that is, another company is hired to take care of it instead. Payroll outsourcing can lead https://www.business-accounting.net/accumulated-depreciation-land-improvements/ to big cost savings and provide access to payroll management experts, […]Continue reading

However, not all accountants are cut out to spend their career working for someone else. It’s important to remember that, besides physical (or virtual) space, accounting firms need to find and install the necessary equipment and technology to help their practice run more efficiently. Once they’ve found a tax solution that can help them achieve […]Continue reading

If you want to void a check, ensure your bank account number and other personal banking information remain intact. As paper checks become less common in banking, organizations that normally require a voided check may be more receptive to another method. Try those first and you avoid the risk of your sensitive financial information falling […]Continue reading

While AI can perform specific tasks with remarkable precision, it cannot fully replicate human intelligence and creativity. AI lacks consciousness and emotions, limiting its ability to understand complex human experiences https://www.business-accounting.net/bond-discount-or-premium-amortization/ and produce truly creative works. There are many studies that show humans are productive only about 3 to 4 hours in a day. Humans […]Continue reading

This video shows you how we onboard a new client company and how we transform their books into a precision construction accounting system. This video shows you why it is essential that you have a precision construction accounting system and shows you the impact it will have on your growth and profits. Over 40,000 construction […]Continue reading