Bookkeeping

Finally, for the buying department to complete the transaction, the accountant will credit the suspense account and debit the supply account. Both suspense accounts and clearing accounts are used to temporarily record transactions, until they can be permanently assigned. When the company gets the entire payment from the customer, they will debit $50 from the … Continued

Operating activities detail cash flow that’s generated once the company delivers its regular goods or services, and includes both revenue and expenses. Investing activities include cash flow from purchasing or selling assets—think physical property, such as real estate or vehicles, and non-physical property, like patents—using free cash, not debt. The statement of cash flows is … Continued

Content Limited Liability Company (LLC) LLC Formation Costs What Are the Disadvantages of an LLC? What is a foreign limited liability company? New York Business License Requirements for an LLC Register an LLC with Georgia Secretary of State? Since the filing is necessary to keep your LLC in good standing and free of fines, it … Continued

The company is ready to take complete charge of clients’ books with diligence. Therefore, you can rest assured that your records are in the right hands. During the first consultation with Small Business Accountant, you can expect a review of your immediate needs. You will also get a fixed-fee quote alongside a course of action … Continued

Content What’s the Difference Between Net Profit and Gross Profit? Evaluation of the Profit Formula Accounting Ratios and Formulas: The Basics You Need to Know This calculation of gross profit helps determine whether products are being priced appropriately, whether raw materials are being inefficiently used, or whether labor costs are too high. In general, gross … Continued

Content Nonprofits Reaching for Piece of CA Budget Pie Radhika Goel, Assistant Account Manager Robin Smith, Account Manager Top 10 Nonprofit Accountants in Sacramento, Fairfield, and the Bay Area. ACCT 343 Computer Spreadsheet Applications for Accounting Ranna Majithiya, Account Manager Here at Better Bookkeepers, we’ve installed QuickBooks with countless clients. Not only can you ensure … Continued

Content What is the Times Interest Earned Ratio? Debt Management Ratios for Your Small Business Relevance and Use of Times Interest Earned Ratio Formula Most games with the black pieces Lower FCCR Let us take the example of a company that is engaged in the business of food store retail. During the year 2018, the … Continued

QuickBooks allows you to access almost all types of accounts, including but not limited to savings account, checking account, credit card accounts, and money market accounts. You can use the Direct Connect Option by enrolling for the Direct Connect service which will allow you access to the small business online banking option at bankofamerica.com. This … Continued

Leverage might have played a factor in the 2008 global financial crisis. Examples of financial leverage usage include using debt to buy a house, borrowing money from the bank to start a store and bonds issued by companies. For example, if funds are raised through long-term debts such as bonds and debentures, these instruments carry … Continued

It is the total amount of remuneration before removing taxes and other deductions such as Medicare, social security, insurance, and contributions to pension and charity. To maximize net pay, you can take advantage of pre-tax deductions such as contributions to retirement accounts, health insurance premiums, and flexible spending accounts. These deductions reduce your taxable income, … Continued