Bookkeeping

The challenge for small businesses is finding the right accounting firm out of the dozens available to fit their needs. Using a set of criteria that includes cost, range of services, software compatibility, and small business expertise, we reviewed 20 online accounting firms to find the best in five categories. They offer a range of …

Virtual Accounting: 5 Ways to Set up Processes that Work w Nayo Carter-Gray Read More »

Content What is Rent Expense? Assistance for State, Local, and Tribal Governments Rent Receivable vs. Accrued Rent Receivable Accruing Rental Income Rent Expense and Technology Small Business Programs When a landlord sends a corporate tenant a bill for rent charges, a bookkeeper debits the rent expense account and credits the rent payable account. This entry, …

What is the difference between Rent Receivable and Rent Payable? Read More »

Assuming the net income was $100,000 it is listed first and is followed by many adjustments to convert the net income (computed under the accrual method of accounting) to the approximate amount of cash. Shareholders’ equity is the net value which a company will return to its shareholders or owners if all assets are liquidated …

What is Shareholders equity on the balance sheet Read More »

Businesses must establish robust credit management practices to mitigate these risks and minimize their impact on quick assets. The higher the proportion of quick assets to current liabilities, the more liquidity a company possesses. This ratio, often referred to as the quick ratio or acid-test ratio, provides insight into a company’s ability to meet short-term …

Quick Ratio: Definition, Equation, Examples Read More »

Content Which Accounting Software is Scalable Enough to Adapt When My Business Grows? How to Close a Bank Account in QuickBooks Info Menu Mobile We Support Multiple Accounting Software Access from anywhere Best Online Accounting Firms for Small Business Each of your business’s sales and purchases must be backed by some type of record containing …

The 5 Best Online Accounting Firms for Small Business Read More »

Once you have determined the reasons, you need to record such changes in your books of accounts. But, you will record such transactions only in your business’ cash book only when you receive the bank statement. Until then, your balance as per the cash book would differ from the balance as per the passbook. In …

The Bank Reconciliation Statement: Top Errors a Bookkeeper Looks For Each Month Professional Business Finance and Accounting Solutions Read More »