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 […]
Category Archives: Bookkeeping
Payroll Terms To Learn Before Doing Payroll
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 […]
Payroll Terms: Heres What You Need to Know Paysquare Payroll
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 […]
How to hire a bookkeeper and tips
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 […]
My bookkeeper has my QB Online billed to them Two questions, how do I get the billing back to me? I am currently in read-only mode, how do I turn this off?
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 […]
Solved: QuickBooks Online: How do I adjust Payroll Tax Liabilities so that they match what the State is showing due? Page 2
Click in the box under Tag Name, and enter a tag label, i.e., EE (to represent employee transactions as discussed above). Click “Add,” and repeat to add any additional tags you need (like ER for employer transactions). I’m also including our Help articles for related references in managing your account and transactions in QuickBooks. Then they expect […]
What are the advantages and disadvantages of artificial intelligence?
A prominent example of this is taking place in stock exchanges, where high-frequency trading by machines has replaced much of human decisionmaking. People submit buy and sell orders, and computers match them in the blink of an eye without human intervention. So, what are the benefits of AI and how does it affect our day […]
How to Reduce Maintenance Costs the Right Way
If plants are completely different, it would be absurd to try to compare the maintenance costs. A coal mine will have very different maintenance costs compared to an electronics factory. If the reference period method of accrual is used, the holiday pay irregular hour workers and part-year workers receive will be their average pay over […]
Accounting for repair and maintenance costs
The proportion of fixed versus variable costs that a company incurs (and how they’re allocated) can depend on its industry. Fixed costs are allocated in the indirect expense section of the income statement, which leads to operating profit. Depreciation is a common fixed expense that is recorded as an indirect expense. Companies create a depreciation […]
15 5: Actual Vs. Applied Factory Overhead Business LibreTexts
The overhead is attributed to a product or service on the basis of direct labor hours, machine hours, direct labor cost etc. The overhead absorption rate is calculated to include the overhead in the cost of production of goods and services. It’s used to define the amount to be debited for indirect labor, material and […]