Bookkeeping

An accounting equation is a mathematical formula that illustrates how a company’s total assets and total liabilities relate to one another. Eventually that debt must be repaid by performing the service, fulfilling the subscription, or providing an asset such as merchandise or cash. Some common examples of liabilities include accounts payable, notes payable, and unearned […]

We also cater to numerous industries, including construction, manufacturing, retail, healthcare and more. In fact, it’s incredibly easy to start with an online payroll service and add on services such as time and attendance, HR, insurance, retirement and more — as you need them. Partner with a payroll provider with the expertise and processes to help

They have the same meaning for accurate bookkeeping and calculating your company’s financial statements. Sundry debtors, also known as accounts receivable, represent the amounts owed to a company by its customers or clients for goods or services provided on credit. Sundry debtors arise when a company sells its products or services on credit terms, allowing

The platform offers various plans and features to accommodate your changing demands as your business expands. However, there’s one major drawback—you have no liability protection. If a client sues you for bookkeeping errors or financial mismanagement, your personal assets (home, savings, etc.) could be at risk. You may need initial funding to cover expenses like

Personal insurance payments are not deductible business expenses so must not go on the Income Statement (Profit and Loss Report). This annual fee can be paid with a one-off payment or it can be spread over 12 monthly payments, or sometimes fortnightly. An insurance expense occurs after a small business signs up with an insurance

This could also mean reduced expenses on future statements as the depreciation spreads out. In turn, this could signal better earnings, potentially boosting stock prices and shareholder satisfaction. When your business undertakes software development, the dividing line gets murkier. But once the application development stages kick in, the magic of capitalization can come into play,

On April 12, 2021, the SEC issued a Staff Statement on Accounting and Reporting Considerations for Warrants Issued by Special Purpose Acquisition Companies (“SPACs”), which highlighted a number of important financial reporting considerations for SPACs. Most notably, the statement describes two fact patterns that are common in warrants issued in connection with a SPAC’s formation and

Careful tracking of these metrics helps businesses adhere to proper revenue recognition while monitoring sales performance. For more about variance analysis materials, contact us at email protected or email protected. Understanding why you outperformed in certain areas can help you replicate that success elsewhere. Single-period variances can be informative, but tracking variances over time can reveal important trends. Firm of

Well-documented transactions reduce the likelihood of errors, facilitate reconciliation processes, and expedite the resolution of any discrepancies. The continuation of unresolved suspense accounts can result in several potential risks and consequences for organizations. It is, therefore, imperative for organizations to proactively manage and resolve suspense accounts to mitigate these risks effectively. It can highlight areas

The best way to create an invoice is using free invoicing software. You can use simple voice commands to send invoices and payments within the platform. Indy is another popular name in the invoicing software for the small business market. From being easy to understand to offering affordable pricing plans, never overlook the features provided