Category: Bookkeeping

The Purchase Day Book, also known as the Purchases Journal, is a vital accounting record used by businesses to systematically record all credit purchases of goods. It serves as a chronological log of transactions related to purchases, providing valuable information for accurate financial reporting and management decision-making. You may balance accounting journals weekly, biweekly, or…

Financial accounting is the cold hard facts that get reported externally to auditors. They all work off the same foundation, they are just used in different situations to accomplish different tasks. Don’t worry about any of these (yet), by the end of this post you will understand the basics surrounding what is project accounting and…

Abacus is a cloud-based tech provider that offers legal practice management software. The company is one of the longest standing, having been in business for 25 years. Founded in 2008, Rocket Matter is an all-in-one legal practice management platform designed for small and mid-sized https://www.bookstime.com/articles/legal-e-billing law firms. What billing software do law firms use? In…

Then, you can start estimating how much you’ll have taken out of your paychecks for the full year. If it doesn’t seem like it’ll be enough to cover your whole tax bill, or if it seems like it’ll end up being way too much, you can submit another W-4 and adjust. If you want extra…

This should include what documentation to keep and how long to keep it, as well as where these documents will be stored and how they will later be disposed of. These are very important legal documents that you may need at some point. The Food Truck Accounting rules for how long you need to keep…

Construction accounting is mainly on a cash basis, completed contracts, and completion rates. All contractors should consider ASC 606 revenue recognition standards with their construction CPA by all contractors. The construction industry is subject to specific tax regulations and reporting requirements. Accurate bookkeeping ensures compliance with these regulations, including recording and reporting income, expenses, and…

We work in partnership with you to provide a bookkeeping service that is tailored to your needs, with a low fixed monthly fee – so no unexpected bills. On top of that, we use technology that gives you 24-hour access to your accurate and up-to date books and records, giving you a clear picture of…

For example, buildings and equipment in areas with strong weather may see more rapid wear and tear from rust, water, and environmental damage. If your depreciable assets asset has no salvage value then this is the amount that you paid for the asset. If it has a salvage value, then the depreciable base is the…

As an example, we’ll walk through setting up order tracking with AfterShip on a Shopify store. Research from Voxware shows that 69% of customers are less likely to shop with a retailer again if their package didn’t arrive within two days of the promised date. 16% of customers even said they would stop shopping with…

With this payment method, a customer signs into their online banking app and manually sends money to an ecommerce business. It’s predominantly used in business-to-business (B2B) ecommerce where transactions are high in value and money is paid after an order has been placed. Ecommerce payment processing is integrated into your business’s own site. It’s a…