• admin
• 19/07/2023
• Bookkeeping
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The information produced by the accounting cycle allows businesses to measure their financial performance and conduct internal analyses at regular intervals corresponding with accounting periods. Accurate financial statement data enables a company’s senior management to make a broad range of decisions relative to financial strategies and budget forecasting. The accounting cycle is a process used to document and report on …

• admin
• 16/03/2023
• Bookkeeping
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When all 250 units are sold, the entire inventory cost ($13,100) is posted to the cost of goods sold. Let’s assume that Sterling sells all of the units at $80 per unit, for a total of $20,000. The profit (taxable income) is $6,900, regardless of when inventory items are considered to be sold during a particular month. Businesses using what …

• admin
• 13/03/2023
• Bookkeeping
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The best payroll software for your company depends on your business size and needs. Top payroll services for small businesses include OnPay, Gusto and ADP RUN. Traditional companies https://intuit-payroll.org/ offer customizable plans to fit your needs, while platforms tailored for startups offer straightforward pricing and all-inclusive packages you can get up and running in minutes. A business may also want …

• admin
• 06/03/2023
• Bookkeeping
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Employees may carry over to the next leave year a maximum amount of accrued annual leave (240 hours for most employees). “Use or lose” annual leave is the amount of accrued annual leave that is in excess of the employee’s maximum annual leave limitation for carry over into the next leave year. Employees must “use” their excess annual leave by …

• admin
• 13/12/2022
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Following the ruling, most states and localities spent about a year or so implementing their own rules and regulations for how they’d go about collecting those sales taxes. Florida business groups have lobbied for years to require out-of-state retailers to collect and remit sales taxes, saying it is a matter of fairness. If you are a Florida business owner, you …

• admin
• 11/11/2022
• Bookkeeping
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Meanwhile, the remaining five steps are the bookkeeping tasks you do at the end of the fiscal year. Fortunately, nowadays, you can automate these tasks with accounting software, so doing all this isn’t as time-consuming as it might seem at first glance. You need to perform these bookkeeping tasks throughout the entire fiscal year. After analyzing transactions, now is the …

• admin
• 08/09/2022
• Bookkeeping
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Those dates simply allow Hurley to identify the owners to whom the dividend will be paid. Common stock comes with several features, such as the right to receive dividends and vote in the company’s matters. The former involves the distribution of profits stock issuance journal entry among shareholders. Therefore, the common stock does not come with guaranteed distributions. Instead, they …

• admin
• 06/06/2022
• Bookkeeping
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You can create vendor, project, and class reports, set up custom reports, and even see visual business insights and performance trends. On their advanced plan, they also have “smart reporting by Fathom,” which includes machine learning. The only con is that it takes some time to learn how to use their extensive reporting features. QuickBooks has the most intuitive and advanced …

• admin
• 16/03/2022
• Bookkeeping
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Most factoring company platforms are compatible with popular small business bookkeeping systems such as Quickbooks. Linking through technology helps to create convenience for a business, allowing them to potentially sell individual invoices as they are booked, receiving immediate capital from a factoring platform. Prices are established by factoring businesses based on the value of the accounts receivable. Doctors in some …

• admin
• 28/09/2021
• Bookkeeping
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You may take any section of the CPA exam you wish; there is no requirement that you take the sections in sequential order. Standard guidance recommends you reserve your seat at least 45 days prior to your exam date, though you may reserve a spot up to five days before the test. By registering, you establish your intent to sit …