How to Use Undeposited Funds in QuickBooks Online

Using Pareto’s Principle, we know that 80% of the time, standard workflows are the order of the day. But when it comes to accounting, 20% of transactions are enigmatic. Those transactions could result in your sanity going right out the window—along with your ability to file an accurate tax return. For many QuickBooks do-it-yourselfers, it’s […]

Top IT outsourcing companies in India 2022-23

Latin America mostly offers a bunch of generic skills which features on the mid- to low-end of the expertise spectrum, Vohra says. The Philippines’ strength lies in voice-based nonfinancial assets support services rather than STEM skills because of their English-speaking competency. It is true, however, that India did lose out on some BPO market share […]

Answered: Product costs are also called:

Remember, when expenses incurred may not be when cash changes hands. If advertising happens in June, you will receive an invoice, and record the expense in June, even if you have terms that allow you to actually pay the expense in July. The cash may actually be spent on an item that will be incurred […]

Outsourced Accounting Staten Island Bookkeeping in Great Kills NY

Back office accounting duties are quick to eat up your time – and let’s face it, you didn’t start your business so you could manage payroll. It’s up to you to determine whether your business can afford an in-house bookkeeper. Their standard pay, according to Salary.com, ranges from $39,568 and $50,577 per year—before taking into […]

Why are interest expenses tax deductible?

To deduct interest you paid on a debt, review each interest expense to determine how it qualifies and where to take the deduction. Interest expense often appears as a line item on a company’s balance sheet since there are usually differences in timing between interest accrued and interest paid. If interest has been accrued but […]

Small Business Bookkeeping Services

With FIXE’s weekly vendor invoicing, you only need to take a picture of the invoice, and FIXE will file it and write a check to pay the vendor. There is no onboarding fee and, for most clients, onboarding to FIXE is completed within three days. At the time of writing, there were no third-party reviews […]

The Single Best Accounting Tip for Small Business Success

Under GAAP, even specific details such as tax preparation and asset or liability declarations are reported in a standardized manner. The balance sheet presents the assets, liabilities, and equity of a business as of the end of the reporting period. It presents the financial position of an entity as of a point in time, and […]

Bookkeeper360 Review: Features, Pricing & Alternatives

Bookkeeper360’s service does not require a contract, and you can cancel at any time. Meanwhile, Bench is designed to be a user-friendly service for small businesses with basic bookkeeping needs. These include access to financial statements and integrations to streamline business management processes, such as a payroll integration with Gusto and merchant accounts with Square. […]

Difference between Invoice and Statement

It represents a bill for goods and services provided and details the amount due. While a statement provides an overview of numerous transactions or purchases over a period of time, an invoice is usually a detailed description of a single transaction. As a business owner, it is essential to understand the differences between invoices and […]