Category: Bookkeeping

This plan also gives you a dedicated expensing vs capitalizing in finance account team to help with training, troubleshooting and setup. Xero and QuickBooks are both great accounting software options for small businesses. They both offer a wide range of features, an easy-to-use interface and competitive pricing. While Bookkeeper360 provides bookkeeping services for Xero users,… Continue reading QuickBooks Online Review 2024: Features, Pros & Cons

He has worked as an accountant and consultant for more than 25 years and has built financial models for all types of industries. He has been the CFO or controller of both small and medium sized companies and has run small businesses of his own. He has been a manager and an auditor with Deloitte,… Continue reading Trump was warned that FBI could raid Mar-a-Lago months ahead of time, lawyer’s notes show

Her expertise is in personal finance and investing, and real estate. It is linked to allocating account dollars specific accounts and is reported as reductions from these accounts. Those who are struggling with recording contra accounts may benefit from utilizing some of the best accounting software currently available. By keeping the original dollar amount intact… Continue reading Contra Account Definition + Journal Entry Examples

While QuickBooks Online and Desktop have their strengths and weaknesses, they ultimately balance out—which makes them tied in terms of overall features. Below we provide a detailed comparison across each feature, where we also determine a winner for each category. A new and improved migration process gives you even more ways to move online. Move… Continue reading QuickBooks Online vs Desktop: Which Is Right for Your Business?

It is appreciated for its more comprehensive view of a company’s profitability picture for a particular period. The net income section provides information derived from the income statement about a company’s total revenues and expenses. By adding this statement to the financial statement package, investors have a more detailed view of revenue and expense items… Continue reading What Is Comprehensive Income? Deep Look at Company Earnings

A C corporation is required to hold at least one meeting each year for shareholders and directors. Minutes must be maintained to display transparency in business operations. A C corporation must keep voting records of the company’s directors and a list of the owners’ names and ownership percentages. Further, the business must have company bylaws on… Continue reading Advantages and Disadvantages of Forming a Corporation

When a company’s equity ratio is less than 50% (i.e. debt ratio is higher than equity ratio), it is known as a leveraged firm. Conservative companies are considered less risky compared to leveraged companies. Leveraged companies pay more interest on loans while conservative companies pay more dividends to stockholders. Businesses are contractually required to pay… Continue reading How to Calculate Return on Equity ROE

Negative retained earnings occur if the dividends a company pays out are greater than the amount of its earnings generated since the foundation of the company. Negative retained earnings, on the other hand, appear as a debit balance. A net loss would decrease retained earnings so we would do the opposite in this journal entry by… Continue reading Closing Entry: What It Is and How to Record One

Ensuring that resources are used efficiently and in alignment with the organization’s goals is essential. Effective expense management plays a central role in this endeavor, enabling nonprofits to maximize the impact of every dollar spent. Another way to determine your operating budget is by splitting up the work. Consult your board, staff, and volunteers to… Continue reading SBA Economic Injury Disaster Loans Available to Wyoming Small Businesses U S. Small Business Administration

The Gross Margin is a profitability ratio that measures the percentage of revenue remaining after deducting the cost of goods sold (COGS) incurred in the period. The gross profit method is an important concept because it shows management and investors how efficiently the business can produce and sell products. That is why it is almost… Continue reading Gross Profit Margin: Formula and What It Tells You