The money that a client holds until the project has been completed satisfactorily is generally put into an asset account called a Accounts construction bookkeeping Receivable Retainage or Retainage Dues account. Another key benefit of cloud-based solutions is that they… Weiterlesen →

It is very important to have robust data backup and security processes to ensure all sensitive information is safe and not at all in jeopardy. This is where you should get an independent auditor to help you conduct periodic audits… Weiterlesen →

Improving financial decision-making is crucial for small businesses aiming to thrive in competitive markets. This involves regularly reviewing financial statements, cash flow reports, and key performance indicators such as profit margins and accounts receivable turnover. Utilize financial forecasting to anticipate… Weiterlesen →

Many small businesses owners choose to do their own bookkeeping, then hire an outside CPA to generate and file their tax returns. Other businesses employ both bookkeepers and accountants — or one person who takes care of both their bookkeeping… Weiterlesen →

If you have information in QuickBooks already, your bookkeeper will help clean it up in the first month of service. If you work with a popular subscription service such as QuickBooks Live Bookkeeping, you can pay as little as $200… Weiterlesen →

If you are investing your money, ratherthan saving it in fixed rate accounts, the reality is that returns on investments will vary year on year due to fluctuations in interest rates, market conditions, inflation, and other economic factors. We’ve discussed… Weiterlesen →

I’m hoping you can help with my Undeposited Funds issue. There was an undeposited $50 when I started working with a company. I recorded a negative entry in Journal Entries and then made the $0 deposit. Now my Undeposited Funds… Weiterlesen →

For example, a blank endorsement might make sense if you’re in a bank lobby or making a mobile deposit at home. To do this, log into your bank account via the financial institution’s website or mobile app. Typically, you can… Weiterlesen →

The intent behind doing so is to approximately match the revenue or other benefits generated by the asset to its cost over its useful life (known as the matching principle). This change is reflected as a change in accounting estimate,… Weiterlesen →

Accounts receivable refers to money due to a seller from buyers who have not yet paid for their purchases. The amounts owed are stated on invoices that are issued to buyers by the seller. The issuance of an invoice implies… Weiterlesen →