Category Archives: Bookkeeping

Once your bookkeeper receives all the necessary documentation, they’ll typically complete your cleanup within 30 days. In some cases, your cleanup may take longer depending on timeliness of documentation and the complexity of your books. QuickBooks also features several web-based attributes that enable online banking transactions like bill payments, online banking assessments, and payroll functions. […]

At the same time, Login.gov has also rolled out robust anti-fraud tools—similar to those used by the private sector—to better detect and stop people who are trying to steal benefits from the government. These enhanced tools build on top of Login.gov’s existing secure identity verification process, to better protect both users and taxpayer dollars. A […]

QuickBooks no longer offers the option to buy a QuickBooks license instead of the QuickBooks Desktop subscription. As with the Silver plan, this number can vary significantly from business to business. In addition to the base price of each package, you are able to add on options. Data file optimization reduces your file size by removing […]

QuickBooks Online Advanced costs $200/month and supports up to 25 users. QuickBooks Online Plus (not to be confused with QuickBooks Desktop Pro Plus) includes five users and advanced features. QuickBooks is a great accounting software option but how much will QuickBooks Online actually cost you? Our QuickBooks pricing biweekly vs semi-monthly payroll guide covers costs, […]

It reports all income and expense items that are not recorded in the Income statement but affect Owners’ Equity. All revenues and expenses that stem from the normal course of business operations are recorded here. The bottom line of the Income Statement is the Net Income for the period. If non-controlling interests have been valued […]

This will usually be through operating expenses, howeveralways follow instructions from the examiner. Prepare the consolidated income statement to incorporate P and S for the year ended 31 December 20X9. The income statements for P and S for the year ended 31 August20X4 are shown below. A third proposition is for the OCI to adopt […]

By utilizing this system of tracking funds, you can maintain accurate financial records for your organization and all of its directives, empowering you to generate powerful financial statements and make key decisions. Most importantly, it can keep government agencies like the IRS off your back. It’s hard to turn away money, but think things through […]

Nonprofits that rely on grants often deal with requirements and deadlines they have to meet for each grant. Fund accounting for nonprofit organizations ensures funds are used according to those requirements and within the agreed deadlines. When trying to think of what a fund might be for your organization, ask yourself, “Do I need to […]

Nevertheless, these assets are not usually fully expensed in the year of acquisition. Instead, their costs are distributed over their anticipated useful lives to align the expense with the revenue they contribute to, in adherence to the matching principle of accounting. Instead, it is a contra-asset account that reflects the total depreciation expense recognized over […]

Or you may want to know the number of years an amount must be invested in order to grow to a certain amount. In all these cases, we have two of the three items in the formula, and we can solve for the third. To illustrate, the table below shows the future value of $1 […]