Often CEOs view a CPA firm as a one stop shop when it comes to their financial management and will ask them to provide bookkeeping and accounting. And while most CPAs do offer a wide array of services to complement each business’s needs, their Read more
Yes, a Quickbooks certification is worth it. It keeps your accounting and bookkeeping skills up to speed with the market. It's a great help if you are starting your own business or running an accounting firm. Read more
In this accounting method, each transaction is assigned to a specific account using journal entries, and the changes in the accounts are recorded using debits and credits. Accountants who are not specialized in newly formed companies may be missing a Read more
Financial reports can prepare your business for the future by looking at your past and present to prepare you for future decisions. Anytime you complete more than $600 of work for a client, they will need to file and send you a copy of Form 1099-MISC Read more
Dunning Letter – communication with customers to ensure the collection of account receivable. The department must have supporting documentation for each individual account to be written-off available for review. Accounts receivable are eligible for w... Read more
There will be some customer identification needed to activate the card so it can't be stolen from the mail and activated. A family of four could get up to $5,000 with the latest round of stimulus, the most generous helping of cash thus far, so what s... Read more
Make a decision that you can stick with, as you cannot easily convert Quicken data for QuickBooks, or vice versa. Each tool has its own download and data storage specifications and the two are not compatible. No guarantees are made as to the accuracy... Read more
Once you’ve got that number, divide your net sales for the year by your working capital for that same year. The resulting number is your working capital turnover ratio, an indication of how many times per year you deploy that amount of working ... Read more
I hope we all can use these lessons about working capital to make better future free cash flow growth projections and intrinsic value estimates. These are usually defined as assets that are cash or will be turned into cash in a year or less and liabi... Read more
WIP refers to the raw materials, labor, and overhead costs incurred for products that are at various stages of the production process. WIP is a component of the inventory asset account on the balance sheet. These costs are subsequently transferred to... Read more
