How to Find the Best Virtual Bookkeeping Service for Your Business
Virtual, outsourced, and online are often used interchangeably when referring to bookkeeping and accounting. However, a virtual bookkeeper or virtual accountant can sometimes refer to accountants or CPAs who work out of their homes and contract out their services individually. In contrast, outsourced bookkeeping and accounting nearly always refers to accountants with an accounting firm who […]
How to Calculate Sales Tax
Since then, sales tax has had a rocky history in the U.S. and this is perhaps why there has never been a federal sales tax. Some of the earlier attempts at sales tax raised a lot of problems. Sales tax didn’t take off until the Great Depression, when state governments were having difficulty finding ways […]
How to Become a Bookkeeper FAST This Year Step-by-Step
A bookkeeper or accountant who chooses to work independently as a consultant or freelancer may benefit from business-related courses. If this is your chosen career path, you can earn a small-business management certificate to learn how to operate your own business. Bookkeepers and accounting clerks are responsible for basic financial reporting. They record income and expenses, or […]
What Does a Chief Financial Officer CFO Do?
The CFO also works with the COO, CSO, chief information security officer, chief risk officer, chief people officer and chief marketing officer on financial-related decisions and implementing financial policies. The job also involves handling functions such as capital budgeting, obtaining debt and equity financing, and managing investor relations. When required, the CFO will also advise […]
Surety Bond Cost: Price Guide by Coverage Amount
Bonds required by state and federal governments will also be more costly since it’s mandatory to have higher bond amounts. In many cases, you’ll pay more for certain bonds with additional coverage. Another factor that impacts your premium is the type of bond you need. In addition to the bond type, factors like the bond […]
What is Owners Equity? Formula, Examples & Calculations
It’s what’s left over for the owner after you’ve subtracted all the liabilities from the assets. Apart from the balance sheet, businesses also maintain a capital account that shows https://www.online-accounting.net/kpmg-spark-review-and-ratings/ the net amount of equity from the owner/partner’s investments. Navigating the intricacies of your business’s financial statements can be a complex task — but it […]
What is turnover and how do you calculate it?
We’re looking to calculate XYZ Tech Company’s turnover rate for the year of 2021. However, turnover in itself is not a measure of success, as it doesn’t provide any information about profitability. Kelly Main is a Marketing Editor and Writer specializing in digital marketing, online advertising and web design and development. What is the Difference […]
Closing Entries Financial Accounting
Once you’ve made out the income statement, drawing up the income summary is simple enough. If your business is a corporation, you will not have a drawing account, but if you paid stockholders, you will have a dividends account. If you paid dividends for the month, you will need to close that account as well. […]
Construction accounting 101: An expert guide for contractors
Construction businesses that have annual revenues exceeding $25 million over the last three years are required to use the percentage of completion method. These larger businesses also include general overhead costs within each project, which has the advantage of providing clear insight into exactly how profitable each job is. An accountant will help you make […]
California can’t withhold state’s federal income tax Fact check
For example, if you earn less than $68,350 per year, your marginal rate in California will be no higher than 8%. You can claim a nonrefundable tax credit for rent paid for at least half of the year. The credit is $60 if you are single or married filing separately; for other filers, the credit […]