If you’ve ever worked overtime hours in an hourly job, it’s likely you’ve seen the term “time and a half,” which refers to the extra money you’ll make during those hours. Knowing how to calculate time and a half is a good skill to have whether you work in payroll or are simply trying to […]
Arquivos de Categoria: Bookkeeping
This crucial process helps individuals and businesses maintain accurate financial records, identify discrepancies, and prevent errors in reporting. QuickBooks’ online and desktop platforms offer efficient tools, making reconciliation seamless. In today’s digital age, managing financial transactions has become easier with the help of accounting software like QuickBooks. When it comes to credit card transactions, reconciling […]
Transitioning from paper to electronic invoices guarantees timely delivery, enhancing customer satisfaction. Make sure the software integrates with popular payment gateways so that customers have multiple payment methods like a credit card, debit card, or ACH to pay the invoices. You can also look for features that allow you to automatically offer incentives to your […]
With that information, you can now adjust both the balance from your bank and the balance from your books so that each reflects how much money you actually have. We’re going to look at what bank statement reconciliation is, how it works, when you need to do it, and the best way to manage the […]
The easiest way to take advantage of compound interest is to start saving! Just enter your beginning balance, the regular deposit amount at any specified interval, the interest rate, compounding interval, and the number of years you expect to allow your investment to grow. Compound interest is often compared to a snowball that grows over […]
The advice you receive from your accountant and bookkeeper will only be as good as the information you share with them about your business, growth objectives, and challenges. For example, if you only give them basic information, they are going to provide you with more general advice and best practices. There are tons of nuances […]
For information on depreciating property acquired after 1986, see chapter 4 of Pub. Generally, the class life of property places it in a 3-year, 5-year, 10-year, 15-year, 18-year, or 19-year recovery class. This publication describes the kinds of property that can be depreciated and the methods used to figure depreciation on property placed in service […]
Commencing her professional journey in 2023 with our esteemed Outsourced Accounting practice, Jennifer has swiftly proven herself as an invaluable asset to our team. A proud graduate of the University of the Philippines, Cyndel’s foundation in Business Economics gives her a unique perspective, allowing her to weave macroeconomic principles into individual tax strategies. Additionally, as […]
