Bookkeeping

You can create a dropbox for each client, and they can start submitting their information. This system is much more secure than sending files via email or flash drive. To access the information in the document-sharing program, you need a user ID and password. And more importantly, there’s no need for physical backup because files

Again, the amount closed from the income summary to retained earnings must always equal the net income/loss as reported on the income statement. The $36 debit to interest payable will cause the Interest Payable account to go to zero since the liability no longer exists once the cash is paid. Notice that the total interest

Hattrup encourages all of his clients to address little details from day one in order to start off on the right foot, such as transferring internet bills from a personal to a business credit card. Typically, it only makes sense to hire an in-house accountant after your startup has expanded significantly. At that point, you’re

If needed, make adjustments to your pricing to reflect costs in your locality or state. If you want your business to save time and money, then you should consider hiring a bookkeeping service. A bookkeeping service can help you stay organized and on top of your finances. For pricing, we considered whether a service offers

A non-cash charge is a write-down or accounting expense that does not involve a cash payment. They can represent meaningful changes to a company’s financial standing, weighing on earnings without affecting short-term capital in any way. Depreciation, amortization, depletion, stock-based compensation, and asset impairments are common non-cash charges that reduce earnings but not cash flows. Non-cash expenses such as depreciation reduce

BuyerCo informs SellerCorp that one of the units is defective. If you want to quickly create a credit note, you can use credit memo/note software and create unlimited credit memorandums. A Credit note is a written document stating sales return, where the seller intimates the buyer that the money for which the debit note is