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Category: Bookkeeping

  • 11 Bookkeeping Tips for Truckers: The Basics

    If you have investors, they’ll require that you provide financial reports. And if you are trying to get a business loan, you’ll need clear and easy-to-read financials so that potential investors can make an informed decision about investing in your vision. It simplifies the bookkeeping process, making it easier to track expenses, manage accounts payable…

  • Understanding Accounts Payable AP With Examples and How to Record AP

    Poor vendor management can lead to issues such as overpayments on invoices, missed early payment discounts, and even loss of contracts with key suppliers. Outsourcing vendor management tasks can ensure that vendor relationships are well-maintained. If your Accounts Payable process is falling short of any of the goals, then it is high time you fix…

  • How to reconcile a credit card where there is an outstanding credit?

    Accurate financial records are not just useful for internal decision-making. They are also essential during audits and when filing tax returns. Bank reconciliation in QuickBooks ensures that your books match your bank records. This can save a significant amount of time during an audit and reduce the likelihood of errors in your tax filing, potentially…

  • Bootstrap Business: The Role Outsourced Accounting Services Plays For Growing Startups

    Unsuccessful financial and accounting management accounts for a staggering 18% of their failures. Due to their small financial means, accounting for startups is a crucial one, and must manage their money carefully. Even if you have a fantastic company strategy, you still won’t succeed in the cutthroat job market if you don’t handle your money…

  • PK Management

    So you can bet that if you’re a rental owner who hasn’t deliberately entered into a career in management, you probably won’t find it relaxing either. If you need to access state-specific legal forms for your property, like for a lease agreement, you’ll need to pay an extra $25 to an overview of excise tax…

  • Interest Expense Journal Entry Example

    He has been a manager and an auditor with Deloitte, a big 4 accountancy firm, and holds a degree from Loughborough University. Using the computed debt balances from the prior section, we’ll now calculate the interest expense owed by the borrower in each period. The greater the percentage of the original debt principal paid down…

  • FICA explained: Social Security and Medicare tax rates to know in 2023

    This means that, when your rights in the stock are transferable or no longer subject to a substantial risk of forfeiture, you must include as an adjustment in figuring alternative minimum taxable income the amount by which the FMV of the stock exceeds the option price. Enter this adjustment on line 2i of Form 6251.…

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