There’s also a FreshBooks mobile app for both iPhone and Android, which includes mileage tracking. Plus, if you prefer to manage your business on the go with a mobile device, you can download the FreshBooks mobile app – and handle…
If a contra account is not used, it can be difficult to determine historical costs, which can make tax preparation more difficult and time-consuming. In the books, the account of the asset would have a debit value of $100,000, and…
It happens four times per year; publicly traded companies in the U.S. are required by law to report their financial results on a quarterly basis. Most companies follow the calendar year for reporting, but they do have the option of…
COGS is often the second line item appearing on the income statement, coming right after sales revenue. Since prices tend to go up over time, a company that uses the FIFO method will sell its least expensive products first, which…
These enhanced disclosures aim to give stakeholders a clearer understanding of a company’s revenue streams and the judgments involved in recognizing revenue. Revenue recognition methods vary depending on the nature of the business and the specifics of the transactions involved.…
While single-entry bookkeeping is simpler, double-entry is more thorough and less likely to produce errors. Volunteers may incur out-of-pocket expenses on behalf of your congregation. Substantiation from your congregation is required if a volunteer claims a deduction for unreimbursed expenses…
Using mobile apps to manage payroll out of the office is a necessity for many business owners. Those that are considered good are designed to provide payroll services that help employers pay their staff accurately and on time and avoid…
Moreover, with each of these service types, you’ll receive U.S.-based support and a platform with which to communicate with the Bookkeeper360 team, making its service not only expansive but accessible. If you need to be able to accept credit card…
If most of your accounts receivable balance is in the or column, consider tightening up your payment terms — maybe offering net 15 instead of net 30 terms — to collect payments faster. If you consistently have customers who are…