Kategori: Bookkeeping

Managing multiple projects, tracking budgets, and ensuring profitability while staying compliant with IRS regulations adds complexity to the financial side of running an architectural practice. Before going to the final indirect expense component, it is appropriate to refer back to the example income statement and numbers therein. As diagrammed, direct and indirect labor are the […]

To save on costs and add efficiency to your business, consider video conferencing, a cloud phone system, and having remote employees. If you decide to grow your business or sell to consumers, you’ll need to transition to the accrual method to meet generally accepted accounting principles (GAAP). This can be challenging if you’ve operated under […]

Audit trails show all changes within the software, who made them and when they were made to help accountants track down errors or unauthorized entries. You can also connect your bank account and credit cards to your FreshBooks account to automatically track your expenses. Plus, use bank reconciliation to ensure your accounts are accurate and […]

The Plus and Premium plans are $7.50 and $13.75 per month, respectively, during the same time frame. This is ample time to see if the platform meets your business needs and will perform the functions you desire. These include financial statements, sales tax reports, accounts payable and accounts receivable reports, and a trial balance sheet. […]

Certain skills are vital for anyone seeking success in accountant consultancy. An accountant consultant’s role varies depending on their area of specialization and their clients’ specific needs. These degrees often delve deeper into specialized areas of business and accounting, equipping graduates with refined skills and knowledge. For most, this begins with earning a bachelor’s degree […]

This is because while some types of income are easy and cheap to generate, others require considerable effort, time, and expense. Critics of principles-based accounting systems say they can give companies far too much freedom and do not prescribe transparency. They believe because companies do not have to follow specific rules that have been set […]