When you use an in-house accountant, you’re often subject to a single person’s skills, experience and availability can lead to financial errors and missed deadlines. A virtual bookkeeping company often employs a team-based approach and a peer-review process which can lead to enhanced accuracy and timeliness of deliverables. Your virtual bookkeeper is now your partner, […]

Content Tide — Best Overall Online Business Bank Account for Sole Traders The Tax Advantages of Running a Business From Home How to choose the best deal for my sole trader bank account Qdos Accounting has a new name! Get started with simple business accounting with FreshBooks today. OneUp also includes easy product and service […]

For an example, let’s look at a hypothetical hair product company that makes $15 million in sales revenue. Retained earnings serve as a link between the balance sheet and the income statement. This is because they’re recorded under the shareholders equity section, which connects both statements. If a company decides not to pay dividends, and […]

Many businesses consider QuickBooks Premier over QuickBooks Online because of its advanced inventory management features and the availability of industry-specific features. QuickBooks has become a household name in the world of accounting software. With two main versions available, QuickBooks Online and QuickBooks Desktop, it’s important to understand the differences between them to make an informed […]

Content Support Groups About the FTC Safe Harbor What Is a Safe Harbor? Types, and How They Are Used A range of sanctions of varying degrees of severity will allow dispute resolution bodies to respond appropriately to varying degrees of non-compliance. Sanctions should include both publicity for findings of non-compliance and the requirement to delete […]

The key advantage of using horizontal analysis is that it allows for the visual identification of anomalies from long-running trends. By presenting data on a comparative basis, changes in the data are more readily apparent. In addition, the use of horizontal analysis makes it easier to project trends into the future. Yet another advantage of […]

Content Build a stronger business with a QuickBooks Certified ProAdvisor Step three: Interview a prospective CPA Services Why you need to be careful when choosing a CPA You’ll need an accountant to help with the finances Perfect your accountant job description When do I need a small business accountant? You should hire an accountant for […]

Content Components of Current Assets What Is the Difference Between a Fixed Asset and a Noncurrent Asset? What Are Examples of Current Assets and Noncurrent Assets? Cash Balance Sheet Liquidity Ratio Formulas What Are 3 Types of Current Assets? Examples of Current Assets To illustrate, treasury bills that mature in three months or less are […]

Businesses can use one of two methods to report a bad debt on their taxes, the specific charge-off method and the nonaccrual-experience method. The IRS provides detailed instructions on both methods in its Publication 535, Business Expenses. The business only has to report the amount of the recovery equal to the amount it previously deducted. […]

Content Implement a late fee What should bookkeeping services cost? Seamlessly Integrate with Your Preferred Software Charge your worth when it comes to bookkeeping services What Is Tax Liability: Everything You Should Know The three costs of early-stage bookkeeping Financial Reporting Instead, you need to ask yourself how much value you provide for your client. […]