Category Archives: Bookkeeping

For example, a $100 sale with $10 additional sales tax collected would be recorded as a debit to Accounts Receivable for $110, a credit to Sales for $100 and a credit to Sales Tax Payable for $10. Why use a general journal if we have all the special journals? The reason is that some transactions […]

All in all I couldn’t be more satisfied with what they offer. Everyone that I have dealt with so far is extremely knowledgeable, polite, and willing to spend time going over any questions you have. Any small business in need of affordable bookkeeping should use RemoteBooksOnline. Their team are professional, organized, and detailed. Their onboarding […]

The gross profit of a business is simply revenue from sales minus the costs to achieve those sales, or, some might say, sales minus the cost of goods sold. It tells you how much money a company would have made if it hadn’t paid any other expenses, such as salaries, taxes, copy paper, electricity, water, or rent. […]

Because your team cares about the outcome of a project, they’re more willing to step outside of their specialty and find creative ways to get things done. They may suggest ideas to make a project better or proactively fix issues before they become a problem. If you work with your in-house team, you can keep […]

Intuit also participates in established partnerships with multiple security organizations and alliances to help make sure that your data is protected by the best methods available. With advanced reporting, pricing, and inventory tools applicable across multiple industries, it doesn’t get any more powerful than this. QuickBooks Desktop is a one-time purchase installed on your clients’ […]

We are a complete outsourced solution and endeavor to ensure that the benefits we provide our clients always outweigh the costs. By handling tax, compliance needs, 13 accounting tips to keep the books balanced and accounting for churches, we help our clients keep their focus on ministry. Simply put, we’re here so you can be […]

The following is a list of other special instructions for group returns. An organization that has a permanent office, but has no office hours, or very limited hours during certain times of the year, must make its documents available during those periods when office hours are limited, or not available, as though it were an […]

At the same time, leverage is an important tool that companies use to grow, and many businesses find sustainable uses for debt. Financial data providers calculate it using only long-term and short-term debt (including current portions of long-term debt), excluding liabilities such as accounts payable, negative goodwill, and others. The concept of comparing total assets […]

Additionally, you can streamline the invoicing process with meticulous attention to detail. Often, the root cause of your collections and cash flow issues is what is an overdraft fee and how do you avoid them simply poor internal processes. One of the easiest ways to mitigate these constant issues is to make sure that each […]

A balance sheet explains the financial position of a company at a specific point in time. As opposed to an income statement which reports financial information over a period of time, a balance sheet is used to determine the health of a company on a specific day. In this example, Apple’s total assets of $323.8 […]