In those early stages, bookkeeping isn’t a pressing issue. Most fledgling businesses keep records of when they receive cash from sales or spend cash to cover bills, and leave it at that. If your business still handles its books this way, you should strongly consider moving to the accrual method of accounting, and this is … Continue reading “Bookkeeping clean up: Why Are Your Books a Mess? How to Clean Up Accounting Records?”
Bookkeeping and payroll services: 8 Best Online Bookkeeping Services for Small Businesses of May 2023
Posted on Posted on: 22.05.2023Categories Bookkeeping 101Providing alerts if there are any major changes in your business spending habits. Note, however, that the lowest-tier Essential plan uses proprietary software and lacks integrations with QuickBooks Online or NetSuite. Considering the price point and more advanced CFO-level features you can add to your plan, inDinero is best suited for medium-sized and quickly growing businesses. Accounting, … Continue reading “Bookkeeping and payroll services: 8 Best Online Bookkeeping Services for Small Businesses of May 2023”
Bookkeeper360: Bookkeeper360 Review: Pricing, Features, and Top Alternatives
Posted on Posted on: 22.05.2023Categories Bookkeeping 101The last service that Bookkeeper360 offers is technical assistance. Bookkeeper360 is working on its own application, 360app, that will allow you to manage all of your Bookkeeper360 services, from accounting to financial planning, in one place. This app has not yet launched, but according to the Bookkeeper360 website, will be included in all packages. Bookkeeper360 … Continue reading “Bookkeeper360: Bookkeeper360 Review: Pricing, Features, and Top Alternatives”
Book balance: Calculating the Book Balance
Posted on Posted on: 22.05.2023Categories Bookkeeping 101At the end of each month, the cash book is not balanced until a bank statement is received from the bank. The term book balance, which is also used in the bank reconciliation is the amount shown in the company’s general ledger for the bank account. The automatic withdrawal requires a simple journal entry that … Continue reading “Book balance: Calculating the Book Balance”
Billable hours: What Are Billable Hours? How to Get Paid on Time
Posted on Posted on: 22.05.2023Categories Bookkeeping 101Here are some general examples of billable and non-billable activities during a team member’s workday. On average, that typically means billing around 30 hours out of 40 working hours a week. For some high-performing fields, that number may be even higher. Between Curdbee & their new version, Hiveage, I’ve brought in more than $310,000 than … Continue reading “Billable hours: What Are Billable Hours? How to Get Paid on Time”
Back office accounting: How to Get a Smart Back Office That Drives Growth
Posted on Posted on: 22.05.2023Categories Bookkeeping 101Businesses that can integrate and take full advantage of technology quickly will reap rewards not just from streamlined operations but enhanced financial intelligence as well. Know how a financial decision will affect your business before you make it. To meet the mission of your not-for-profit or association, you look for new ways to improve operations. You’ve … Continue reading “Back office accounting: How to Get a Smart Back Office That Drives Growth”
Arrears payment: What It Means to Be in Arrears, With Example
Posted on Posted on: 22.05.2023Categories Bookkeeping 101If one or more payments have been missed where regular payments are contractually required, such as mortgage or rent payments and utility or telephone bills, the account is in arrears. Payments that are made at the end of a period are also said to be in arrears. In this case, payment is expected to be … Continue reading “Arrears payment: What It Means to Be in Arrears, With Example”
Amazon seller accounting: What is the best way to do bookkeeping for Amazon Seller?
Posted on Posted on: 19.05.2023Categories Bookkeeping 101If you want to know the money that you are generating, you need to know your net sales revenue. Our first payment was $3,300 sent to Hubei Jianguo Cosmetics Co., Ltd. on January 23. This payment is a product manufacturing cost, thus it’s COGS. First, we have separated out each month’s expenses and incomes, one … Continue reading “Amazon seller accounting: What is the best way to do bookkeeping for Amazon Seller?”
Agricultural accounting: Agricultural Accounting Agricultural & Consumer Economics UIUC
Posted on Posted on: 19.05.2023Categories Bookkeeping 101The management and organization of agricultural accounting have their own specifics, which are complicated by the seasonality and climatic features of a region, difficulties in forecasting, many industry differences and the presence of several activity areas. There is an uneven load in different months, non-standard cost formation and the need to create a unique classification. … Continue reading “Agricultural accounting: Agricultural Accounting Agricultural & Consumer Economics UIUC”
Ach transfer: ACH Payments and ACH Bank Transfers
Posted on Posted on: 19.05.2023Categories Bookkeeping 101By reducing failed and late payments, ACH Debit frees up the time businesses otherwise spend on dealing with these issues, creating more space to get other essential tasks done. The median internal cost for processing ACH payments is $0.29 per transaction. Direct Deposit is used for payments from businesses or the government to a consumer, … Continue reading “Ach transfer: ACH Payments and ACH Bank Transfers”