Category: Bookkeeping

Your client or customer can pay you on the go, from any mobile device or desktop computer. If for any reason your invoice goes unpaid after the due date, Square gives you the option to set up…

You’ll then be given an overview of the basics of the brewery balance sheet, income statement, and cash flow statements to understand how they all tie together for your future brewery business. Brewery cost accounting will be…

In short, there are quite a few business benefits to using BPA – both those that positively impact the organization as well as employees. Since BPA platforms can operate at such scale and efficiency, they can vastly…

At a minimum, you should complete Form W-7 when you are ready to file your federal income tax return by the return’s prescribed due date. If the tax return you attach to Form W-7 is filed after…

To recognize the costs of the contract, they’ll credit Construction in Progress and debit their expenses. This notification of accounting change is referred to as an automatic change because it is considered “automatically” approved. You assume IRS…

Accounts payable automation refers to implementing software solutions designed to streamline and automate accounts payable processes within your organization. Businesses can reduce manual data entry, minimize errors, and improve overall efficiency by automating tasks such as invoice…

The difference between the inventory value under LIFO and what it would be under FIFO is known as the LIFO reserve. This figure is often disclosed in financial statements to provide additional context to investors and analysts….

Because of this, horizontal analysis is important to investors and analysts. By conducting a horizontal analysis, you can tell what’s been driving an organization’s financial performance over the years and spot trends and growth patterns, line item…

Since cash was paid out, the asset account Cash is credited and another account needs to be debited. Because the rent payment will be used up in the current period (the month of June) it is considered…

They also leverage advanced software to keep their work efficient, transparent, and easily accessible for the client. Plus, they have built-in support for accounting software like QuickBooks Online, Bill.com, NetSuite, Expensify, and others, so they can seamlessly…