Bookkeeping

Below-the-line deductions such as charitable donations or medical expenses can be subtracted from your AGI after it’s been calculated. These are itemized deductions and are listed on Schedule A and reported on Form 1040. On the other hand, the 16% net profit margin implies that for each dollar of revenue […]

Many payroll providers offer exclusive partner programs for accounting firms that deliver payroll services to multiple clients. Oftentimes, these programs include access to resources that help firms manage and grow their practice. These resources may include revenue share agreements, free firm software licenses and central client dashboards. Most charge a […]

When the staff receives these payments, they’re considered wages and are subject to withholding. Streamlining the accounts payable process into an AP automation allows you to quickly capture paper and electronic invoices and route them through customized workflows for approvals. Once the invoices are processed, payments can be sent directly […]

Send us your latest balance sheet and income statement, and you’re all set. With Bench, you get a team of real, expert bookkeepers in addition to software. You’ll always have the human support you need, and a mobile friendly platform to access your up-to-date financials. QuickBooks Online: Best Overall Small […]

Still not convinced Deskera is the right choice for your business? Well, don’t take our word for it – give equity t account the software a try out yourself. Company XYZ provides and collects $4,000 worth of repair services. What is a home equity loan? Once the draw period is […]

By resolving these discrepancies, you ensure that the company’s financial records accurately reflect its true financial position. In addition to managing accounts receivable, full charge bookkeepers are responsible for handling accounts payable. This involves keeping track of all outgoing payments to suppliers, vendors, and other creditors. By maintaining accurate records […]

Now, when you look at your income statement, you can see that the job was actually quite profitable. Accrual accounting creates a more accurate picture of profit or loss, so the salon’s owner can have a better understanding of its profitability from period to period. If the salon is small […]

A small, family-run restaurant that’s registered as a sole proprietorship might be able to get by with some bookkeeping software and an annual meeting with their local accountant. But a growing retail business that’s run as an LLC in multiple states probably needs more complex help. Speaking of CPAs, you […]