Category: Bookkeeping

Outsourcing can bring big benefits, but risks and challenges abound when negotiating and managing outsourcing relationships. If you need your reps purely devoted to outreach and demos — and not to data entry — it might be time to outsource. Once you’ve decided on a provider, you’ll create a written contract that outlines tasks, goals,…

If most of your workforce gets paid by the hour, you might want to go this route. This ensures your employees receive their money a few days after they earn it. Let’s say you own a painting company and have a painter who works 40 hours one week and 12 the week after. Real experts…

Whether or not you should do it depends on how well you know the person and how certain you are the check is good. Although you will have to pay a couple of dollars for a money order, it’s a worthwhile alternative if you don’t already have a paper checkbook. Portions of this article were…

It is only appropriate to compare the asset turnover ratio of companies operating in the same industry. We can see that Company B operates more efficiently than Company A. This may indicate that Company A is experiencing poor sales or that its fixed assets are not being utilized to their full capacity. Asset turnover ratios…

It is only appropriate to compare the asset turnover ratio of companies operating in the same industry. We can see that Company B operates more efficiently than Company A. This may indicate that Company A is experiencing poor sales or that its fixed assets are not being utilized to their full capacity. Asset turnover ratios…

They can also view and print their own W-2s at tax time. If you pay employees through paper checks, you can print them out using your payroll product. You can also invite your employee to view and print their pay stubs in QuickBooks Workforce. If you run into an error while printing paychecks or pay…

Ask for testimonials from people who have utilized your services in the past and spread the word about your offerings through a website or social media. Bookkeeping tasks provide the records necessary to understand a business’s finances as well as recognize any monetary issues that may need to be addressed. Proper planning and scheduling is…

A source document is a document that provides basic information needed to record a transaction in the journal. For example, suppose, you run a merchandising business and you sell some goods to a customer for $500 cash. It is an event that you can measure in terms of money and that impacts the financial position of your…

The overall function of bookkeeping is to identify, classify, and record all transactions. The level of complexity of the position is not relatively high; however, it does require keen attention to detail. Yet, their work is crucial in providing accountants with the information they need to be able to do so. Understand the differences between…

In light of recent security breaches, many people are fearful of offering personal data and documentation to someone they don’t know, especially through the mail. You will usually file an ITIN application, Form W-7, Application for IRS Individual Taxpayer Identification Number, with your first tax return, which you must file as a paper return, not electronically.…