Kashoo offers a surprisingly sophisticated journal entry feature, which allows you to post any necessary journal entries. Expenses, including rent expense, cost of goods sold (COGS), and other operational costs, increase with debits. When a company pays rent, it debits the Rent Expense account, reflecting an increase in expenses. The term inventory refers to items […]
Category Archives: Bookkeeping
15-B, Employer’s Tax Guide to Fringe Benefits, contains information about the employment tax treatment and valuation of various types of noncash compensation. 15-T includes the federal income tax withholding tables and instructions on how to use the tables. If you file your employment tax return electronically, you can e-file and use EFW to pay the […]
These principles guide businesses on when to record revenue, ensuring consistency and transparency in financial reporting. Expense accounts run the gamut from advertising expenses to payroll taxes to office supplies. It’s imperative that you learn how to record correct journal entries for them because you’ll have so many. Revenue is known as the top line because […]
This is achieved by valuing the outstanding inventory at the cost of the most recent purchases. The FIFO method can help ensure that the inventory is not overstated or understated. Here is where the valuation method comes into play because you had 2000 cups in inventory and you sold 1000, but which ones? Using the […]
To mitigate this risk, set up invoice payment reminders using CheckYa. CheckYa lets you send automatic payment reminders to focus on growing your business. Sending error-free invoices is one of the best ways to ensure you get paid on time. Most good freelance relationships are based on a contract template. Whether you created one, the […]
In the worst-case scenario, someone could be making fraudulent transactions with your bank account. But even while using a software like QuickBooks, bank reconciliations will still take up a good chunk of your time. Hiring an outside bookkeeper to handle your bank reconciliation process will save you time and money. The larger your business grows, […]
Some of their solutions include CFO services, accounting and bookkeeping services, tax services, and financial reporting. Virtual and outsourced bookkeeping and accounting services are a happy medium between do-it-yourself software and pricey in-house bookkeeping. If that description accounting for artists fits what you’re looking for, one of the nine best virtual bookkeeping providers can save […]
Our business advisory services can be a tool to bring your financial books to an excellent level, and the professional accounting services offered by our employees could mark the beginning of your future success. Bookkeeping Services of Plano is an accounting firm located in Plano with well over 20 years of experience in the industry. […]
Removing those fraudulent streams from eligibility means all other tracks will receive a greater share of the royalty pool. Tackling fraudulent streams could have a larger impact than a minimum threshold. Spotify’s new royalty scheme also imposes financial penalties for music distributors and labels when fraudulent activity has been detected on tracks they uploaded. That […]
Treat property produced for you under a contract as produced by you up to the amount you pay or incur for the property. Interest on loans with respect to life insurance policies. Because points are prepaid interest, you generally cannot deduct the full amount in the year paid. However, you can choose to fully deduct […]