What are some of the reasons for a business to go bankrupt?
Business bankruptcy can occur for various reasons, and it's essential to understand the underlying causes to prevent financial distress and bankruptcy...
What is year-end close bookkeeping?
Year-end close bookkeeping, also known as year-end closing or year-end accounting, refers to the process of finalizing a company's financial records a...
The importance of internal bookkeeping audits
Internal bookkeeping audits, often referred to as internal financial audits or financial statement audits, are a vital component of an organization's...
Who really needs to work with a bookkeper?
Who really needs to work with a bookkeeper? Most businesses could benefit from working with a bookkeeper. Here are a list of who really needs one:...
Why Are Non Profit Agencies Tax Exempt
Nonprofit organizations, also known as tax-exempt organizations or 501(c)(3) organizations in the United States, enjoy tax-exempt status for several r...
A Guide To Sending Out 1099s
Sending out 1099 forms is an important tax-related task for businesses in the United States. These forms are used to report payments made to non-emplo...
Job order costing vs process costing
Job order costing and process costing are two distinct methods used in accounting and cost management to allocate costs to products or services. They...
What is the difference between a ledger and a simple journal entry?
A ledger and a simple journal entry are both important components of the double-entry accounting system, but they serve different purposes and have di...
What is a Business Tax Code?
A business tax code typically refers to a set of rules, regulations, and tax laws that govern how businesses are taxed by the government. It outlines...
Recording charitable contributions in bookkeeping
Recording charitable contributions in bookkeeping involves accurately documenting donations made by your business to qualified nonprofit organizations...