Bookkeeping

A petty cash box is designed to hold all the notes and coins separately from the other cash you may have, which removes any confusion around spending. It also means that team members are aware that they can’t take cash from elsewhere for small expenses. There might be some confusion between the terms cash on…

You can take a printout of all the information your accountant needs to prepare the returns and ship it to them easily. However, automatic bill tracking does not mean you cannot do that manually. You can directly record a manual transaction easily, whether in cash or check. To get the best possible experience please use…

It helps landlords, investors, leasing agents, maintenance technicians and other real estate professionals track and execute projects and data more efficiently. It also makes renting easier for tenants because it allows them to make payments, sign leases, request support and otherwise manage their accounts online. Our real estate management software includes integrated solutions for accounting,…

These trends and innovations will shape the future of cloud accounting, offering businesses new opportunities to streamline their financial processes, improve accuracy, and make data-driven decisions. Communicate the benefits of cloud accounting to your team and provide training and support to help them adapt to the new software. Address any concerns or resistance to change…

When a check is actually debited from your account, for instance, you’ve already accounted for that transaction; thus, you’re not left with less money than you thought. An alternate accounting system is called cash accounting or cash-basis accounting, which states that you should record your business’s revenue and expenses at the time of payment when…

Once made, the election may not be revoked without IRS consent. You use the calendar year and place nonresidential real property in service in August. The property is in service 4 full months (September, October, November, and December). You multiply the depreciation for a full year by 4.5/12, or 0.375. Do you own a business?…

Additionally, since one of QuickBooks’ top selling points is its user-friendliness and intuitive UX, I recommend clicking through various tabs on the dashboard to familiarize yourself with the interface. Simply checking out the font and graphics helped me orient myself to QuickBooks’ style before I started entering information. Click on the pencil icon or anywhere…

It also includes tools for streamlining accounting tasks, like the invoice process, and gaining insight into your business’s financial health. QuickBooks Online is a cloud-based accounting platform while QuickBooks is a desktop program that provides additional inventory management features. All QuickBooks products have a maximum user limit, so think about who will need access to…

Retained earnings could be used for funding an expansion or paying dividends to shareholders at a later date. Retained earnings are related to net (as opposed to gross) income because they are the net income amount saved by a company over time. Revenue is the money generated by a company during a period but before operating expenses and…

An alumnus of California State University East Bay, Robby holds a Bachelor’s degree in Business Administration with a special focus on Accounting. Passionate about continued growth, he’s currently navigating the pathway to securing his CPA license. Leo is an alumnus of UC Santa Cruz, where he majored in Film & Digital Media and minored in…