Category: Bookkeeping

At the end of the financial year, you must reconcile your trust account records, ensuring that client funds are appropriately managed and accounted for. If you are using Clio as your legal practice management software for your firm, the trust accounting process is straightforward and easy to complete. Clio is proudly certified in trust accounting… Continue reading Accounting for Lawyers: The Basics

Now that you know how to calculate your A/P turnover ratio, you can try to improve it by following our tips below. Our list of the best small business accounting software can help you find the solution that fits your needs. You can use the figure as a financial analysis to determine if a company… Continue reading Account Payable Turnover Ratio: Definition & Calculation

Mandatory consistent payments give employees a lot of stability and flexibility. However, at the state level, most states have minimum pay frequency requirements except for Alabama, Florida, and South Carolina. For further details, consult state regulations regarding pay frequency. You use your plan compensation to calculate the amount of your own contribution/deduction. Note that your… Continue reading How do self-employment taxes work? A step-by-step guide

Networking with like-minded individuals can provide valuable insights, support, and motivation. Before you start, it’s crucial to understand the market demand for your side hustle idea. Conduct thorough research to see if there’s a viable market for your product or service. Bookkeeping Best Practices: Helping Houston Businesses Stay Financially Agile These services let business owners… Continue reading 21 Best Bookkeeping Services in Houston, TX

Any transaction through the accounts recievable should also be listed to the accounts recievable ledger as well. Assuring that every cash transaction made is posted to the appropriate account is important as well in order to keep information organized within the journal. A cash receipts journal is a subsidiary ledger in which cash sales are… Continue reading Cash Receipt Journal Definition, Explanation, Format, and More

We deliver highly customizable software and ongoing support so you can get the most from our factoring solutions. Schedule a demo of our software today to see how FactorFox can help your business meet its financing needs. For the nearly 30 million small businesses in the United States—money is certainly a very important metric for… Continue reading Financing Accounts Receivables Explained

In international trade, the exporter (seller) of goods may not have a buyer at the time the goods are loaded on the vessel for transport. Since the recipient of the goods is yet to be determined, the consignee section of the bill of lading will simply state “to order” or “to order of.” They are… Continue reading Negotiable Instruments: Understanding the Blank Endorsement

The average accounts payable is the average of the accounts payable at the start and end of the year. The financial ratio used to calculate is an accountancy metric that determines how efficient a company is at recovering debts or money due from customers. The ratio demonstrates how a company is managing and uses the… Continue reading Accounts Payable Turnover Ratio: Definition, How to Calculate

The rest of the income is derived by intergovernmental transfers and miscellaneous sources. Housing and community development services spending would decline by almost $9 million in the proposed budget, to just under $91 million. But those losses may be offset by an increase in spending on the homeless solutions and equitable communities office, which rises… Continue reading Franchise Tax Board Homepage FTB ca.gov

More accurate information on the product’s cost provides more activity-based costing aimed at measurement and decision-making purposes. This lack of accuracy has led cost accountants to search for new, fairer ways to charge production units for their share of indirect expenses. Meanwhile, businesses are now paying more attention to whole quality products. These changes have… Continue reading Activity Based Costing: Meaning, Definitions, Features, Steps, Limitations, Benefits, Uses and Examples