It is also important to know what kind of resources it controls, e.g., cash, buildings or land. Financial accounting is identify the two main categories…
Category: Bookkeeping
Next, assume that Example Corporation distributed $110,000 of cash dividends to its stockholders. The $110,000 cash outflow has an unfavorable or negative effect on the…
The first step in setting up a chart of accounts is to determine what types are needed. This will vary depending on the size and…
Improving efficiency and outsourcing solutions can alleviate common challenges such as data accuracy and time management. As an engineering firm, you have unique financial needs…
In single-entry accounting, when a business completes a transaction, it records that transaction in only one account. For example, if a business sells a good,…
Download our data sheet to learn how you can manage complex vendor and customer rebates and commission reporting at scale. Download our data sheet to…
All drawing accounts are closing entries closed to the respective capital accounts at the end of the accounting period. This is closed by doing the…
When you hire us, you’ll find that the cost of bookkeeping services for small businesses is a small price to pay in exchange for excellent…
Accounting software streamlines the time-consuming and error-prone manual bookkeeping processes, simplifying the retrieval of necessary information for crafting financial statements. Compared to cash basis accounting,…
The third and thorniest challenge that lies ahead for the great eight is technological change. For many years clients sought their help to modernise creaky…