Category: Bookkeeping

It may be reasonable to use the general principle of “substance Accounts Receivable Outsourcing over form” and treat these as costs included in the general framework of lease termination payments. The court applied its lease termination analysis to the payments without regard to the contract language or the specific purpose for which the payments were…

It may be reasonable to use the general principle of “substance Accounts Receivable Outsourcing over form” and treat these as costs included in the general framework of lease termination payments. The court applied its lease termination analysis to the payments without regard to the contract language or the specific purpose for which the payments were…

It usually nets off against related accounts and provides an contra asset account definition opposite effect to the balance. Therefore, contra accounts are the reverse accounts that decrease a specific account’s balance. If you’re valuing a low-growth company based on its equipment assets, you want to use the net value to be conservative. Accumulated depreciation…

This seems to be one of the most common reasons that people hold off and working with a CPA. There seems to be a belief that by hiring an accountant, the money you save will just disappear in the costs to pay them for their services. While we obviously do charge for our services, more…

Acuity offers flexible bookkeeping Sales Forecasting and accounting solutions tailored to startups and growing businesses. Their services range from basic bookkeeping tasks, such as transaction recording and reconciliations, to advanced financial support, including fractional CFO services and tax planning. Compare pricing models—whether they charge hourly, per task, or a fixed monthly rate—and ensure you know…

When it comes to choosing the right financial management approach, one crucial factor to consider is the size and complexity of your business operations. Small businesses and startups may benefit from outsourcing certain financial tasks, such as payroll processing or bookkeeping, to third-party service providers. This allows them to focus on core business activities while…

Get paid 5 days faster on average when you send invoice reminders with Intuit Assist, an AI-powered assistant right in QuickBooks. You can use this report either during reconciliationor to age or summarize open receivables. In such cases, you should compare your credit risk and policy to industry standards to see if you take too…

This process is not only essential for financial reporting but also for operational and strategic planning. Different methods and models are employed to calculate depletion, each with its own set of assumptions and applications. Understanding these methods is crucial for stakeholders, including investors, environmentalists, and policymakers, as they offer insights into the sustainability and profitability…