These deposits are checks or cash received and recorded by a company but not yet reflected in the bank statement. Understanding this concept helps businesses maintain accurate financial records and manage cash flow effectively. Such discrepancies can impact the accuracy of financial statements and the overall accuracy of the company’s financial position. In cash management, …
The firm offers bookkeeping and accounting services for business and personal needs, as well as ERP consulting and audit assistance. These are the Generally Accepted Accounting Principles that are used to standardize accounting practice across the US. GAAP helps provide clear information on your business’s financial health. Some businesses account for income and expenses as …
Accounting for Startups The Ultimate Startup Accounting Guide Read More »
If you need some help with that, check out my free Pricing Strategies for Bookkeepers and Accountants as well as my Simple Pricing System. I also encourage you to set up an Instagram account and a LinkedIn account. As you can see, you can do a lot even on your own if you’re handy with …
How to get started as a virtual bookkeeper in 7 steps Read More »
Here are answers to the most frequently asked questions about labor burden rates and employment costs. Payroll burden will include any and all expenses you pay to keep your employees—from their paycheck to their benefits. These direct and indirect costs give you a picture of the true cost of your workforce. The burden rate is …
Annuities play a vital role in financial planning, particularly for retirement and long-term investments. They provide a steady stream of payments over time, making them a preferred choice for individuals seeking consistent income. However, understanding the present value of an annuity is crucial for evaluating its true worth. The present value reflects what a series …
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We work in partnership with you to provide a bookkeeping service that is tailored to your needs, with a low fixed monthly fee – so no unexpected bills. On top of that, we use technology that gives you 24-hour access to your accurate and up-to date books and records, giving you a clear picture of …
Horsforth, West Yorkshire Accounting & Bookkeeping Services Horus University Egypt Read More »
Each journal entry consists of at least one debit and one credit, with the total debits equaling the total credits. Journal entries are used to update the general ledger accounts and form the foundation for financial statements. No, you cannot debit and credit the same account within a single transaction. On the other hand, credits …
When doing the bookkeeping, you’ll generally follow the following four steps to make sure that the books are up to date and accurate. Remember that each transaction is assigned to a specific account that is recording transactions later posted to the general ledger. Posting debits and credits to the correct accounts makes reporting more accurate. …
10+ Best Online Bookkeeping Services for 2025 Reviews Read More »
If you think FreshBooks might be for you but you’re still on the fence, you’re welcome to try the car dealer accounting software risk-free for 30 days. In order to increase productivity and streamline operations of small or midsize businesses, CDK Drive offers several capabilities, such as customer relationship management, appointment scheduling, parts ordering, and …