Bookkeeping

Lightspeed POS S-Series (formerly ShopKeep) is designed with retailers and restaurants in mind. Its plug-and-play setup makes it easy to use, and you have Grocery Store Accounting access to 24/7 customer support and onboarding assistance. All feedback, positive or negative, helps us to improve the way we help small businesses. Grocery Store Profitability When buying …

What Is Retail Accounting and How Can Accounting For Retail Business Help You? Read More »

However, the process can become tedious if you haven’t kept up with transactions throughout the month and don’t have statements handy. Our 2024 Legal Industry Report revealed that those who offered online payments had a 50% invoice recovery rate compared to those who offered checks and cash. Before meeting with a bank representative, call ahead …

Law Firm Bookkeeping 101 Bench Accounting Read More »

A financial professional will offer guidance based on the information provided and offer a no-obligation call to better understand your situation. Our mission is to empower readers with the most factual and reliable financial information possible to help them make informed decisions for their individual needs. We follow strict ethical journalism practices, which includes presenting …

How to Prepare a Bank Reconciliation: 8 Steps with Pictures Read More »

The analytics review approach can also reveal fraudulent activity or balance sheet errors. In this case, businesses estimate the amount that should be in the accounts based on previous account activity levels. Account reconciliations should be performed regularly, ideally monthly, to ensure financial records are accurate and up-to-date. Such regular and timely reconciliations support financial …

What is Account Reconciliation? Process, Types & Best Practices Read More »

If your prospective bookkeeper does, you should consider what you’d do if they’re sick or call out for other reasons—have a backup plan in case your bookkeeper is out of office. Make sure you’re on the same page about their pricing structure to avoid any billing hassles or hidden costs. Once you get an idea …

How to hire a bookkeeper and tips Read More »

If your prospective bookkeeper does, you should consider what you’d do if they’re sick or call out for other reasons—have a backup plan in case your bookkeeper is out of office. Make sure you’re on the same page about their pricing structure to avoid any billing hassles or hidden costs. Once you get an idea …

How to hire a bookkeeper and tips Read More »

Adjusting payroll liabilities in QuickBooks involves making changes to the recorded amounts of various payroll obligations and ensuring that the financial records accurately reflect the current liabilities and taxes owed. By diligently following these steps, you can ensure that your payroll liabilities are accurately adjusted in QuickBooks Online. This will enable you to maintain accurate …

Solved: Adjust Payroll Liabilities for Taxes Already Paid Read More »

All of these things affect commissions and must be considered before you build your plan and start payouts. Once the decision is made, it’s time to test your commission structure’s effectiveness and share the plan with your sales team. Monitor its effectiveness against your goals, and don’t hesitate to adjust the course based on performance …

Commission Definition, Examples, Calculating, Steps & Formulas Read More »

Creating your own small business might be one of the hardest things you ever do—but we have complete confidence that you can handle it. When you stay on top of your bookkeeping and accounting processes, you empower yourself to make wise financial decisions. With these basic accounting tips for small-business owners under your belt, we’re …

Accounting Tips for Small Business Owners Read More »

Reacquiring stock also helps raise the share price, providing investors with an immediate reward. The two aspects of accounting for treasury stock are the purchase of stock by a company, and its resale of those shares. If we were to ignore the dilutive impact of non-basic shares in the calculation of equity value, we would arrive …

The Treasury Stock Method: An Essential Tool for Accurate EPS Measurement update Read More »