Category Archives: Bookkeeping

This purchase would fail the arm’s-length transaction test because the buyer’s and seller’s relationship likely influenced the property’s sale price. In this context, the principle means that prices should be the same as they would have been, had the parties to the transaction not been related to each other. A simple example of not at […]

Overall, the wages expense account helps companies record the hourly compensation paid to employees. The first is the hours worked by employees for a specific period. Usually, it comes to form the timesheets receptionists or other internal records within a company. Accrued income is listed in the asset section of the balance sheet because it […]

In January 2023, Noranda Income Fund finalized an agreement with Glencore Canada Corporation. Through a legal arrangement, Glencore Canada Corporation acquired all of Noranda’s current priority units for C$1.42 per unit, amounting to $53.2 million. David S. Chang, ChFC®, CLU® is an award-winning entrepreneur, keynote speaker, author, and consultant. He has over two decades of […]

Content Bookkeeping and Accounting Tools Bookkeeping Services Botkeeper Review Frequently Asked Questions No reviews yet. Then when it comes to digital marketing, you might want to consider embedding Google Ads, Salesforce, Kissmetrics, MailChimp, Constant Contact, HubSpot,  Insightly, etc. Deploying Botkeeper should be a walk in the park since it’s a very flexible platform. And most importantly, it comes with an extensive […]

They earned revenues of $5.1 billion for their fiscal year ended December 31, 2017. Having gone through a series of mergers dating all the way back to 1818, Dutch accounting giant KPMG has an established reputation in traditional audit and consulting. From an employee’s point of view, this means strong career and development opportunities, notable […]

Baker Tilly is number nine on the top 20 list in the largest firms in the world. They’re headquartered in Chicago and hold more than 580 offices in more than 110 countries. Recently, they’ve merged with PFK to bring more services and locations to its clients in the UK. With that lower of cost or […]

This is the federal act that consists of numerous laws meant to assure that employees are treated well and paid fairly. The federal minimum wage and overtime rules fall under this act as do recordkeeping rules and child labor laws. Accruals also often happen as part of an employee benefits package. Many employers offer paid […]

For hourly employees, this is calculated by multiplying hourly pay with the number of hours, including overtime. For salaried employees, this is calculated by dividing the total yearly or annual pay of the employee by a number of pay periods such as 12. Taxable wage base – The maximum amount of employee compensation subject to Social […]

Consider using one of the best bookkeeping services to make managing your books a breeze. Once the entries are assigned to the correct accounts, you can post them to the general ledger to get a bird’s-eye view of your current cash status. Most accounting software does this for you, so you don’t need to worry […]

Though often confused for each other, there are key differences between bookkeeping and accounting. At its core, bookkeeping is about recording financial data, while accounting is about interpreting financial data. If you’re worried about not having someone you can count on everyday, and don’t mind paying a bit more, a tangible assets financial definition of […]