Bookkeeping

This journal entry affects both the balance sheet and income statement as the total expenses increases by $500 while total assets decrease by the same amount on August 31. Outstanding checks are checks that have been issued but not yet presented for payment or cleared by the bank. They represent pending transactions where the funds…

She’s worked on ad campaigns for many trusted brands such as Nike, Subaru, Polaris, Red Bull and Progressive Insurance, just to name a few. Beyond her professional accomplishments, Natalie is driven by her love for writing and research, and is committed to maintaining a growth mindset. Not only is she passionate about learning and growing,…

For example, a production line with positive contribution margin should be kept even if it causes negative total profit, when the contribution margin offsets part of the fixed cost. However, it should be dropped if contribution margin is negative because the company would suffer from every unit it produces. Several methods are available to check…

Her knowledge and experience with multifaceted business operations combined with the depth of her accounting and financial knowledge make her a powerful ally for any company. Not surprisingly, her staff are a reflection of her strengths. Amber brings with her over 15 years of experience in restaurant operations. She is an executive member in a…

Bookkeeping is the process of recording and organizing financial transactions, including income, expenses, and assets. It provides accurate and up-to-date financial information that helps businesses make informed decisions, track their financial health, and comply with tax obligations. A company hires a bookkeeper to manage and organize its finances, including detailing and categorizing all transactions. They…

Once you have selected someone, ask about their service fees and confirm their availability. Then provide them with all the documentation they require, including W-2s, 1099s and more. Always ask to review the paperwork before it is submitted, and never sign a blank tax return. Accountants do not automatically have a Certified Public Accountant (CPA)…