How are prepaid expenses adjusted on the general ledger?
How are prepaid expenses adjusted on the general ledger? Prepaid expenses are items that a company has paid for in advance but has not yet consumed o...
End-of-Month Bookkeeping Checklist
End-of-Month Bookkeeping Checklist End-of-month bookkeeping refers to the process of reviewing, reconciling, and finalizing a business's financial re...
What is an Emergency Fund?
What is an Emergency Fund An emergency fund is a savings account that is set aside specifically for unexpected events or emergencies. It's...
6 KEY MONTHLY BOOKKEEPING CHECKLIST ITEMS
6 KEY MONTHLY BOOKKEEPING CHECKLIST ITEMS Balance your checkbook Review your budget and compare it to your actual spending Reconcile your b...
Sensible Investing Benefits
Sensible investing offers several benefits, both in the short term and over the long haul: Risk Management: Sensible investing focuses on diversi...
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...
Tips on tax reduction for businesses
Reducing taxes for your business legally and ethically is a sound financial strategy that can increase your profitability and cash flow. Here are some...
Small Business Tips: How to spend your Money Wisely
Where should your money go when you operate your business? There's a lot of things for you to consider to keep things running smoothly. As you start e...
Common Errors in Tax Preparation
Mistakes can happen when you're preparing your taxes, even with all the technological automation on hand. A good way to avoid the oversight is to keep...
Reasons Why Your Business Needs an Accountant
Do you ever think your business needs an accountant? There is a high percentage of small business owners shutting down after just a year of operation...