Category: Bookkeeping

Choosing the right bookkeeping services for your small business will also free up time for you to focus on your company, easing a lot of stress. A bookkeeping service can manage your accounting software for you, which takes a lot of administrative work off your to-do list. Many bookkeepers also offer filing services, but their…

Double-check your chart of accounts to ensure statement of cash flows items like credit card payments are classified correctly. A credit card payment itself isn’t an expense; it reflects settling a previous expense you categorized earlier. Finally, provide clear descriptions for fixed assets beyond simply listing them in the fixed asset accounts. Your tax preparer…

For example, all the debtors of an organisation are grouped together under just 1 head of sundry debtors in the balance sheet. Similarly, Inventory shows the net total of Raw Material, Work In Progress and Finished Stock. This presentation starts with assets and after that, equity & liabilities are listed. The format is categorized into…

Examples of activity ratios are inventory turnover ratio, total assets turnover ratio, fixed assets turnover ratio, and accounts receivables turnover ratio. Below the assets are the liabilities and stockholders’ equity, which include current liabilities, noncurrent liabilities, and shareholders’ equity. This means that the assets of a company should equal its liabilities plus any shareholders’ equity…

These positions demand a certain level of expertise, commitment, and, often, longer hours, which justifies the stability of a salary. In the bustling landscape of a restaurant, you’ll find salaried positions at the helm and in key operational roles. For Vang getting rid of tipping is not only a sustainable business model – it’s a…

As the name suggests, this restaurant payroll report provides information to your state’s reporting agency about the amount of tax your business withheld from employee paychecks. But when you use reliable payroll software, you can sleep better at night knowing that your software is keeping track of all those compliance details for you. Good software…

Union payroll for construction businesses involves wage calculation and management and other benefits for employees who work on union-affiliated projects. It requires a comprehensive understanding of labor contracts and collective bargaining agreements, along with implementing appropriate payroll and taxes based on those contracts. Construction accounting is an important part of any construction business because it…

Construction businesses that have annual revenues exceeding $25 million over the last three years are required to use the percentage of completion method. These larger businesses also include general overhead costs within each project, which has the advantage of providing clear insight into exactly how profitable each job is. An accountant will help you make…

We’re not just providers, we’re partners in your success, delivering value that extends far beyond traditional accounting. We understand the importance of core activities for businesses, and that’s why we step in to handle the complex world of accounting. This allows our clients to focus on what they do best while leaving the financial intricacies…

Indian outsourcing companies provide flexible staffing options, allowing firms to quickly adjust their bookkeeping needs. This eliminates the need for extensive hiring and training processes, making it easier for firms to accommodate a growing client base. These professionals possess the necessary technical skills and expertise to handle complex financial tasks, including general ledger maintenance, bank…