Arquivos de Categoria: Bookkeeping

They make up the bulk of marketing, leasing, financial and operational tasks you face. We will work with you to customize a solution stack that fits your unique business. We also offer customizable solutions like mobile apps and websites for your properties. Our continued innovation wouldn’t be possible without feedback from our clients. Maintaining multiple […]

When you compare the balance of your cash book with the balance showcased by your bank passbook, there is often a difference. One of the primary reasons this happens is due to which of the following is not a step in preparing a bank reconciliation? the time delay in recording the transactions of either payments […]

Deductions reduce the adjusted gross income applied to a corresponding tax rate.Tax credits apply to taxes owed, lowering the overall tax bill directly. Running a small business is undeniably expensive, which is one key reason the IRS lets small business owners deduct certain business expenses from their taxable revenue. These deductions — informally known as […]

Typically, you’ll need to void a check when you need to provide new account verification for setting up a direct deposit or direct withdrawal. You can provide written informaition about your account, but many companies require the voided check for verification. Similarly, if you use an online-only bank, you don’t need a voided check to […]

This financial metric gives businesses a detailed picture of their production expenses, leading to more informed decision-making and better financial management. The Cost of Goods Sold or COGS is the cost of only the finished products that were sold during a given period. It’s one of the most important rows on the income statement and […]

The average cost is found by dividing the total cost of inventory by the total count of inventory. This is why LIFO creates higher costs and lowers net income in times of inflation. Using LIFO can help prevent obsolescence by ensuring out-of-date items are sold or used before they become obsolete. Additionally, coupon rate formula […]

An ITIN may be assigned to an alien dependent from Canada or Mexico if that dependent qualifies a taxpayer for a child or dependent care credit (claimed on Form 2441). The Form 2441 must be attached to Form W-7 along with the U.S. federal tax return. Assuming you qualify for an Individual Taxpayer Identification Number […]

If you do the latter and have established a relationship with a payment processor, then your invoice can contain a stub explaining how the customer can return payment via credit card or bank withdrawal. You can sometimes create a PDF version of the invoice, copy it, record a payment on it, and set it up […]

But for most small-business owners in most industries, QuickBooks Online has better automation, better access, and a better price point. QuickBooks Desktop doesn’t offer the same multi-user accessibility, but it does have a more comprehensive assortment of features that provide an in-depth view of your accounting operations. QuickBooks Desktop offers more advanced inventory management features, […]

Shareholders, analysts and potential normal balance of retained earnings investors use the statement to assess a company’s profitability and dividend payout potential. Retained earnings are also known as accumulated earnings, earned surplus, undistributed profits, or retained income. At 100,000 shares, the market value per share was $20 ($2Million/100,000), however, after the stock dividend, the market […]