Archive: Bookkeeping

Learn the reconcile workflow in QuickBooks

19th of July, 2024

You can make changes to past reconciliations, but be careful. Changes can unbalance your accounts and other reconciliations. It also affects the beginning balance of your next reconciliation. Now, simply compare the transactions on your statement with what’s in QuickBooks. The tricky part is making sure you have the right dates and transactions in QuickBooks so […]

Book Value Formula How to Calculate Book Value of a Company?

16th of April, 2024

Many individuals may not recognize its significance or know how to interpret it within the context of their investment decisions. Therefore, let’s understand what is book value of share and how it is helpful. Master the art of bond valuation calculations to unlock the secrets behind assessing bond worth and optimizing investment decisions. Incorporating Book […]

Obsolete Inventory: Identification, Prevention, and Solutions

2nd of April, 2024

By adopting effective inventory management strategies and staying on top of market trends, businesses can avoid the negative impact of obsolete inventory and keep their operations running smoothly. Businesses often implement strategies to minimize obsolete inventory, such as forecasting demand more accurately, adopting just-in-time inventory systems, and offering promotions to clear out slow-moving stock. These […]

Fixed Assets What Is It, Types, List, Examples, Advantages

16th of February, 2024

When a fixed asset reaches the end of its useful life, it is usually disposed of by selling it for a salvage value. In some cases, the asset may become obsolete and will, therefore, be disposed of without receiving any payment in return. The fixed asset is written off the balance sheet since it is […]

All You Need To Know About Bookkeeping Virtual Assistants

5th of February, 2024

Look no further than Equivity if you are tired of handling your own bookkeeping and looking for someone to take on the task. All of Equivity’s virtual assistants are based in the US and have a college education. Not only that, but they also have years of professional experience under their belts. WishUp also provides […]

Period Costs What Are These, Formula, Accounting & Types

31st of January, 2024

Its intuitive interface and built-in AI capabilities make it incredibly straightforward to perform complex computations, including the calculation of total period costs. Sourcetable also offers the unique feature of experimenting with AI-generated data, ensuring a more versatile data analysis experience. Calculating total period costs facilitates the preparation for audits by providing a clear breakdown of […]

What is finished goods inventory? Definition, formula, and calculation

29th of January, 2024

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Worker Classification 101: employee or independent contractor Internal Revenue Service

22nd of December, 2023

QuickBooks offers 1099 e-filing services with QuickBooks Payroll1 and QuickBooks Contractor Payments. When you use QuickBooks Payroll or Contractor Payments, your 1099s will be automatically generated and e-filed for you, saving your time and helping you prepare for tax season. This information on the W-2 form is necessary to file income taxes during tax season. […]

The 2022 Family Office Software & Technology Solutions Roundup

13th of October, 2023

Heralded as significant as the internet itself, generative AI and particularly OpenAI’s ChatGPT immediately put every single software provider in a position where they’d be judged on how quickly and effectively they’d adopt this new technology. Our platform is built entirely on robust Microsoft infrastructure, boasting a SOC 2 certification, and undergoing rigorous annual penetration […]

The Hoarding Marmot Anchorage Outdoor Gear Consignment

18th of September, 2023

A well-known shop might ask for a bigger cut, but they might also sell your items faster. When a consignor’s items sell (or in some cases, after the agreed-upon period ends), the consignee takes a share of the profits and pays the consignor the share. Items that are not sold are returned to the consignor […]