Bookkeeping

To calculate the average collection period, divide the average balance of accounts receivable by the total net credit sales for the period. Average collection period is the amount of time it takes for a business to receive payments owed by its clients in terms of accounts receivable (AR). Companies use the average collection period to […]

Now, let’s say you pay your one employee $5,000 in qualified wages and also provide them $1,000 of qualified employee health insurance in one quarter. Add your qualified wages and employee health insurance together and multiply the total by 70%. The small business Employee Retention Credit lets employers take a 70% credit up to $10,000

This granular data is essential for making informed decisions about sales and marketing strategies and optimizing your sales channels. Dynamic segmentation features within accounting software can streamline this analysis. Having the general ledger and subledgers work together smoothly is crucial. As businesses move to automated systems, they find better efficiency and accuracy in their finances.

Monthend has dozens of professional bookkeepers and controllers who How to leverage construction bookkeeping to streamline financial control know construction and work inside the tools you already use, like Buildertrend. We are extremely pleased with the exceptional hospital billing services provided by Invensis. Their expertise and attention to detail in Medicare billing and compliance in

Whether your business is in the initial stages of incorporation or expanding operations, doola’s services cater to all financial and compliance needs. This service helps startups manage their finances from formation through growth, making it an all-in-one solution. Whereas accounting is the science, financial forecasting is the art. We leverage the quality of your financial

The items therein should be compared to the new bank statement to check if these have since been cleared. The firm’s account may contain a debit entry for a deposit that was not received by the bank prior to the statement date. There will be very few bank-only transactions to be aware of, and they’re

Follow our guide on how to list payment options on an invoice to make the payment process as easy as possible for your clients. Running a contractor business isn’t easy, especially when there are so many moving parts to manage outside of doing the actual construction work. Luckily, there are many tech tools available to

What steps should you take if your customer wishes to take charge of their own bookkeeping in order to reduce overhead costs? Because a customer using cloud accounting can automate a significant portion of the process, they may law firm chart of accounts start to assume that they do not need your assistance. This is

Content Generally Accepted Accounting Principles (GAAP) Definition US GAAP Standards Basic Tenets of Generally Accepted Accounting Principles Users of GAAP Why Do Only Some Businesses Use GAAP? Cash vs. Accrual Accounting Method Here are a few critical moments in your business lifecycle that necessitate GAAP: Accountants commit to applying the same standards throughout the reporting

Content Water Treatment Plant Upgrade Fee Rate: How To Calculate Your Federal Taxes By Hand Asphalt Use Tax Index Self-service payroll for your small business. However well-intended they may be, sales tax holidays remain the same as they always have been—ineffective and inefficient. Delaying your income by just a couple of days can give you