Category: Bookkeeping

That’s unlike a construction project, where accountants need to take into account — pun intended — labor costs in different states and localities (more on that later). Lisa joined Carpenter & Company in 2009 and has worked with several How…

Discover BusinessLoans.com’s lender network offering up to $3M in funding, no minimum credit score required. As with the Silver plan, this number can vary significantly from business to business. If you want cloud hosting, QuickBooks Enterprise also has each of…

Payroll processing is an important function for any provision for bad debts journal entry business. The payroll add-on calculates payroll automatically as often as you want. Three plans give your business the scalability to grow over time and add features…

True-up is essential for ensuring that your financial records accurately reflect your firm’s real financial status. It adjusts preliminary estimates, accruals, and provisions to match actual amounts and corrects any mismatches between estimated figures and real outcomes. You can save…

Jetpack Workflow’s online system gives you visibility so you can monitor the progress of all your projects and evaluate the workload of each of your team members. To avoid overlooking things or having them get lost in the virtual paper…

Likewise, the adjusting entry at the end of the period is necessary for the company to recognize the cost that expires through the passage of time. As the amount of prepaid insurance expires, the expired portion is moved from the…

The predetermined overhead rate calculation shown in the example above is known as the single predetermined overhead rate or plant-wide overhead rate. This option is best if you’re unsure of how to calculate your predetermined overhead rate or if you…

Once you have reviewed all the received invoices, you can start filling in the invoice details. The chart of accounts helps you track your accounts payable expenses in a proper manner, and you can also generate your chart of accounts…

Assets on the left side of the equation (debits) must stay in balance with liabilities and equity on the right side of the equation (credits). Before getting into the differences between debit vs. credit accounting, it’s important to understand that…

This cost-effective strategy can help ambitious small businesses to scale up and down with ease. This approach ensures access to accounting professionals when needed and reduces costs during slower periods. “According to the Clutch report, Accounting and IT services are…