What is cloud computing: Its uses and benefits February 14, 2024 – Posted in: Bookkeeping

With real-time access to financial data, businesses can track profitability, monitor cash flow, and make strategic decisions to drive growth. Real-time financial reporting and analysis are essential for businesses that want to stay competitive and make data-driven decisions. One of the key advantages of cloud accounting is the ability to access real-time financial reporting and analysis. With cloud accounting software, businesses can view their financial data in real-time, allowing for up-to-date reporting and analysis. Furthermore,…

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The Best Accounting Software for Small Businesses in 2024 September 19, 2023 – Posted in: Bookkeeping

Even small business owners can do accounting management by using cloud accounting software, all they have to do is upload receipts, link financial channels, and let the software do the income and expense tracking. A good small business accounting service gives you information that helps you answer these questions based on the input you supply. Instant search tools and customizable reports help you track down the smallest details and see overviews of how your business…

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What Are T Accounts? Definition and Example March 20, 2023 – Posted in: Bookkeeping

4) Banks often — but not always — file something called a Suspicious Activity Report to the federal government when customers set off alarms. The institutions can’t tell a customer if they’ve filed such a report or even hint at it. Banks say they need to close accounts they deem suspicious to prevent money laundering, fraud and terrorist financing. For example, if you examine the T-account above, you can see that all increases to the bank account…

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Restaurant Accounting: Bookkeeping Tips and More February 22, 2023 – Posted in: Bookkeeping

The POS system usually includes an electronic cash register and a software system that tracks purchases daily. QuickBooks can track all of your restaurant locations, including food trucks, in one system. You can track income and expenses for all of your profit centers—simply set up restaurants, catering, or food trucks as its own class. You can then access the Profit & Loss by Class report to see income and expenses for each location separately, or…

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2024 tax filing season set for January 29; IRS continues to make improvements to help taxpayers Internal Revenue Service February 7, 2022 – Posted in: Bookkeeping

There are also states such as Virginia, West Virginia, Pennsylvania and South Carolina that allow local taxes to be based on gross receipts. In financial terms, gross income of any kind refers to the amount you receive before any deductions or taxes are taken out. A gross receipts example would be if your business sold $100,000 worth of products but had $2,000 worth of returns and a $45,000 investment in the goods it sold, your…

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New Xero collaboration with Intel brings cloud accounting software to more small businesses December 14, 2021 – Posted in: Bookkeeping

Xero is a powerful online accounting software solution for small businesses. Run things smoothly, keep tidy online bookkeeping records, and make compliance a breeze. Denver, CO – November 15, 2022 – Xero, the global small business finance platform, has announced a collaboration with Intel to help empower small business owners to better manage their finances. Select whether you’re a small business, or a partner, to find out how you can earn. It’s so easy to…

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QuickBooks Desktop Enterprise Review 2023: Features & Pricing October 13, 2021 – Posted in: Bookkeeping

(Optional) In the Memo field, enter a memo for the check. Now that you’ve created a payroll item, you can enter the payroll information. I appreciate you sharing this in the Community space, AlarmCompany. Let me share some information about setting up Paid time off (PTO) based on hours worked and tenure. I can guide you with adding transactions to your bank, @dorothywslattery. They’ll be able to help you confirm it’s being entered properly. If…

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Cash Flow Statement: Analyzing Financing Activities September 24, 2021 – Posted in: Bookkeeping

Raising capital through selling equity shares means that the company hands over some of its ownership to those investors. However, with equity there is no debt that needs to be repaid and the firm does not need to allocate cash to making regular interest payments. Cash flow from financing activities provides investors with insight into a company’s financial strength and how well a company’s capital structure is managed. The cash flow statement is one of…

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How To Calculate Average Sales l Sisense September 17, 2021 – Posted in: Bookkeeping

Money (liquidity) that we could need to continue paying suppliers or expenses that we have to face as a company. Some money (liquidity) that we might need to continue paying vendors or expenses that we have to face as a company. The mean sales period (PMV) is one of the phases of the mean maturation period (PMM). It is an economic indicator that allows us to have an idea of ​​the time it takes to…

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