Category: Bookkeeping

Making errors (even if they are unintentional) with deductions for benefits or paying employees late can lead to online postings that are easily avoided with some systems in place. Now is the time to start cutting checks or making direct deposits. Deduct all the tax withholdings and deductions from the gross pay. This leaves you…

The primary purpose of an income statement is to convey details of profitability and business activities of the company to the stakeholders. It also provides detailed insights into the company’s internal activities. By understanding the income and expense components of the statement, an investor can appreciate what makes a company profitable. Ordinary and Extraordinary Items…

If others have invested in your company through a convertible promissory note or a SAFE, the shares attributable to those instruments are not considered issued until they are converted or exercised. Stock warrants, like stock options and https://x.com/bookstimeinc SIP grants, fall under a similar category – they are not included in the calculation until exercised.…

Programs such as Sage 100 Contractor and ProContractor by Viewpoint can help with everything from job costing to managing purchase orders. These programs can also help with tracking expenses by project, which can be especially useful for larger construction companies. Construction companies have unique accounting needs that require specialized bookkeeping practices. This section will cover…

For instance, the increase of $344,000 in total assets represents a 9.5% change in the positive direction. There seems to be a relatively consistent overall increase throughout the key totals on the balance sheet. Even though the percentage increase in the equipment account was 107%, indicating the amount doubled, the nominal (just the number) increase…

Complete inventory set up, clean up, adjustments, entering or importing products, & entering bills. From database stability to ledger tie-outs, our file review & clean up process will give you an in-depth look into the health and optimization of QuickBook. Our QuickBooks ProAdvisors can help with every aspect of QuickBooks, including system design, inventory cleanup,…

The amount of revenue necessary to cover the total fixed and variable expenses incurred during a specific https://www.bookstime.com/bookkeeping-services/carlsbad period. Reducing expenses is one of the quickest ways to improve cash flow. The lower your spending on labor, office space, production, supplies and other common expenses, the more cash you will have on hand. Profit refers…

One of the most frequent use cases of job cost reports is avoiding overruns by projecting costs into the future. Since most construction projects last for months, a monthly job cost report can find budget problems well before project completion. When bookkeeping professionals record both indirect and direct https://www.inkl.com/news/the-significance-of-construction-bookkeeping-for-streamlining-projects costs, this lets contractors spend efficiently.…

Now, you can subtract the operating expenses figure from the gross profit to get to your net profit forecast. While the overall goal of most companies is to maximize net profit, a SaaS startup may have that as a long-term objective only. In the short term, net profit might actually be a negative, as it…

Regardless of whether you’re a new business owner or an established one, we’re here to streamline your financial management. When you partner with us, you’ll receive dedicated support from one of our bookkeeping experts, who will work on a schedule tailored to your specific needs. We understand that every business is Bookkeeping Services in Hillsboro…