Bookkeeping

Say goodbye to being tied to your desk and hello to on-the-go convenience. In a legacy accounting department, the AP process looks something like this. Your AP team receives a paper invoice, physically types the information into your system, ensures that the proper approval chain is observed, and executes the payment once all approvals are […]

They have the opportunity to work with a lot of clients of diverse geographic locations in Asia, USA, UK, Malaysia, Singapore, India, Hong Kong, Brunei, the Middle East, South Korea, and Japan. Completed their recent positioning and restructuring in 2018, they have adopted the new mark, refined the professional services, and have formed a new

This reinvestment into the company aims to achieve even more earnings in the future. When a company loses money or pays dividends, it also loses its retained earnings. This is the company’s reserve money that management can reinvest into the business. Retained earnings represent a company’s total earnings after it accounts for dividends. You calculate

Company B wants a predetermined rate for a new product that it will be launching soon. Its production department comes up with the details of how much the overheads will be and what other costs will be incurred. However, one major disadvantage of the method is that both the numerator and the denominator are estimates

Examples include utility bills, salaries and taxes, which are usually charged in a later period after they have been incurred. If your business typically receives payments from customers in advance, you will have to defer the revenue until it’s earned. One of your customers pays you $3,000 in advance for six months of services. Any

A rule with content creation is to maintain an online presence while giving value to your customers for nothing in return. Traditionally, consumers do not want to feel like you are always selling something. Running a virtual tax business means you will not have an actual storefront to highlight your professional services, so having an

The invoices you make can be sent and paid online or downloaded as a PDF. Provide customers with a seamless online payment experience. Customers can even use Apple Pay, Google Pay, ACH bank transfers or Cash App Pay to settle invoices right from their phone. When creating an invoice, it should include a clear “Invoice”

Attach plans, contracts, or photos so customers have the info they need. Email a copy from the app or let customers accept and sign on your phone. At Business.org, our research is meant to offer general product and service recommendations. With proper bookkeeping, companies are able to track all information on its books to make

Since a nonprofit organization does not have owners, the third section of the statement of financial position is known as net assets (instead of owner’s equity or stockholders’ equity). The following table compares the main financial statements of a nonprofit organization with those of a for-profit corporation. The net income on an income statement for

The financial accounting term assignment of accounts receivable refers to the process whereby a company borrows cash from a lender, and uses the receivable as collateral on the loan. When accounts receivable is assigned, the terms of the agreement should be noted in the company’s financial statements. Some companies may see their accounts receivable as