Category Archives: Bookkeeping

The Ascent is a Motley Fool service that rates and reviews essential products for your everyday money matters. The same principle applies for any month in which no office supplies are purchased or no advertising is bought. A business may be able to reduce utility expenses by negotiating for lower rates from suppliers. Understanding and […]

A QuickBooks ProAdvisor offers distinct advantages, bringing specialized skills and knowledge to the table. The QuickBooks ProAdvisor program gives you access to exclusive discounts, tools, training, and events to help you retain talent and expand your business. With both generalist and specialist certifications that increase your value to clients, QuickBooks certifications expand your skills and […]

On October 2nd, you sell to a client, a service worth $3,000. You receive the payment for the provided service, however, you forget to make a journal entry. When transactions affect more than two accounts, we make compound entries. These are common when the recordings are related in nature or happen during the same day. […]

Staying on top of your bookkeeping is important so that you don’t have unexpected realizations about account balances and expenses. Forbes Advisor has put together this guide to help you understand the basics of small business bookkeeping. Yes, you can use a free program like Wave if you only need basic accounting support for tracking […]

Double time, however, is like a special bonus level – it’s a substantial reward reserved for truly exceptional situations that require a higher level of commitment or sacrifice. A WHD investigation determined QualiT Healthcare LLC owed 62 employees $414,351 in back wages and liquidated damages for violating the overtime provisions of the FLSA. The court […]

Each step in the accounting cycle takes up precious time that can be better spent focusing on your business. Enter Bench, America’s biggest bookkeeping service and trusted by small businesses in many different industries across the country. We take your raw transaction information directly through secure bank and credit card connections and turn them into […]

A provider with industry-specific knowledge can ensure that these factors are handled accurately and efficiently. Infrastructure projects like roads, bridges, and utility installations require careful tracking of large-scale equipment costs, labor, and materials. These projects may also involve government contracts, which require detailed reporting and compliance with specific tax rules and regulations. Managing equipment depreciation, […]

This information shows that at the present level of operating sales (200 units), the change from this level has a DOL of 6 times. Next, if the case toggle is set to “Upside”, we can see that revenue is growing 10% each year and from Year 1 to Year 5, and the company’s operating margin […]

This can be assumed because straight-line rent expense is the average of all required payments. When the cash paid is greater than the straight-line expense, the accumulated deferred rent will be reduced each period by the excess of cash paid over the expense incurred. By the end of the lease term, the deferred rent balance […]

Make sure that you get the best out of your business by hiring a bookkeeper to help you along your journey. They save you time by handling all the daily financial work for you and allow you to concentrate on the running of your business. The real-time information they collect can help them offer you […]