Category Archives: Bookkeeping

Basic Accounting Terms and General Principles Guide

Eligibility standards also include at least 150 hours of higher education covering related coursework. A CPA, or “Certified Public Accountant”, is recognized in the accounting field. It is a designation that is considered challenging to obtain, with exact requirements varying from state to state. However, upon receiving the designation, a CPA is considered an https://nrus.info/overlooked-asian-american-jobless-rate-surges-but-few-take-notice.html […]

Success in Bookkeeping for Medical Practices: 5 Tips

With the increasing digitization of financial records, ensuring data security protocols to protect sensitive financial and patient information is vital. This includes implementing robust cybersecurity measures and complying with HIPAA regulations. As a sole proprietor, you pay income tax at your ordinary rate and self employment tax on 100% of the profit from your business. […]

Your guide to accounting for manufacturing businesses

This partnership helps you focus on what you do best – running your manufacturing business. Sage is particularly good at automating financial administration, and with multiple pricing tiers and structures, you’re sure to find a level that works for your specific business needs. The software handles everything from procurement to sales, as well as inventory, […]

Accelerating growth in construction technology

Management attributes this to being smarter about expenditures (and as noted before the difference between an investment and an expense). Business Succession Plans NeededOverall, many of the firms who responded to the survey reported that they did not have a business succession plan in place. The importance of succession plans—especially in the construction industry which […]

How the Wage Base Limit Affects Your Social Security The Motley Fool

At the time of this last adjustment, policymakers set the wage base limit so FICA tax would be charged on 90% of all wages. Future increases in the wage base limit were set to increase annually based on average growth in wages. Medicare taxes pay for the insurance available to most senior citizens in the […]

Wave: Small Business Software Wave Financial

Unlike other payroll solutions, Wave Payroll doesn’t have relationships with benefits providers. Time tracking is available through timesheets, which can give you the chance to keep tabs on the hours your employees and independent contractors work. Unfortunately, there is currently no way for workers to fill out timesheets on their own. The Complete Guide To […]

Accounting Overview, Principles, Examples, Importance, & Facts

For instance, cost accounting lets you know how much money it takes to create a physical product or deliver a service. This makes it easier for investors to analyze and extract useful information from the company’s financial statements, including trend data over a period of time. It also facilitates the comparison of financial information across […]

Where in the chart of accounts is a suspense account located?

Suspense accounts are used when your trial balance is out of balance or when you have an unidentified transaction. The suspense account is a general ledger account that acts as a holding account until the error is discovered or the unknown transaction is identified. When working with the trial balance, you can open one suspense […]

What are Sundry Expenses?

Understanding and claiming sundry expenses is essential to robust financial management, not just about keeping track of minor costs. These practices not only help in maintaining financial accuracy but also assist in revealing potential areas for cost-saving. Effective managing sundry expenses contributes to better financial health and transparency, whether for a business or personal budget. […]

How to Manage Ecommerce Inventory Everything You Need to Know

These dedicated tools are fantastic for larger and more complex online stores, or simply for those looking to increase efficiency, and cut costly mistakes. Some ecommerce platforms – such as Shopify – have their own built-in inventory management systems, although these are often more basic in their functionality than their dedicated counterparts. Include https://www.bookstime.com/articles/construction-billing-methods targeted keywords […]