Explore how S Corporations handle accounting tasks like payroll, shareholder distributions, and IRS compliance—key insights for smarter financial management.
Automating Cost of Goods Sold (COGS) in Ecommerce Accounting
Learn how to automate Cost of Goods Sold (COGS) accounting for your e-commerce business by integrating Apps with your Accounting Software. Streamline inventory tracking, ensure accurate financial reporting, and eliminate manual data entry errors.
How to Use Multicurrency Feature in QuickBooks Online
Managing transactions in multiple currencies can be complex, but QuickBooks Online simplifies the process. Learn how to handle your multicurrency transactions and avoid common pitfalls in QuickBooks Online.
How to Classify Workers in Payroll System
Classifying workers correctly is essential for business owners to stay compliant with tax laws and labor regulations. Misclassification can lead to penalties, back taxes, and legal trouble. This guide explains the workers classification in detail.
E-commerce Bookkeeping and It’s Unique Challenges
E-commerce bookkeeping presents unique challenges, such as managing multi-channel sales, handling high transaction volumes, and navigating cross-border taxes. This blog post explores e-commerce business models, integrating payment methods, and adopting scalable processes that help businesses achieve financial clarity and long-term success.
Managing Ecommerce Accounting with QuickBooks Online
Managing finances for an e-commerce business can be complex, but QuickBooks Online simplifies the process. This post explores how integrating your sales platforms like Shopify and Amazon with QuickBooks can streamline your accounting, helping you track inventory, manage sales data, and generate accurate financial statements.
Breaking Down the Cost of Goods Manufactured (COGM)
Discover the essentials of Cost of Goods Manufactured (COGM) in this article. Learn how to calculate COGM, understand its key components like direct materials, labor, and manufacturing overhead, and see how it impacts your pricing and profit strategy.
How Accounting Conventions Affect Financial Statement Accuracy
Accounting conventions serve as foundational guidelines ensuring transparency, consistency, and accuracy in financial reporting. This blog explores how conventions like consistency, full disclosure, and conservatism shape financial statements, helping businesses present reliable data for better decision-making.
Types of Financial Models in Finance
Financial models are essential tools in finance, enabling professionals to analyze data, forecast future performance, and make strategic decisions. There are different types of financial models. Each serves a unique purpose, supporting financial analysis and business planning at various levels.
How To File BOI Report For Your Small Business
BOI (Beneficial Ownership Information) reporting is an essential compliance task for businesses. If you’re a small business owner, you might be wondering whether to handle this task yourself or outsource it. This guide walks you through the process of filing your own BOI report step-by-step to ensure you get it right.
How to Track 1099 Contractors in QuickBooks Online
Managing 1099 contractors is a key responsibility for U.S. businesses. QuickBooks Online simplifies this process, helping you stay compliant with IRS reporting requirements. This is the step-by-step guide to tracking and preparing 1099 forms for contractors in QuickBooks Online.
Preparing 1099s: The Challenges and Solutions
Preparing 1099s is often one of the most dreaded tasks for accountants and business owners alike. From chasing down missing W-9s to navigating last-minute data corrections, the process can feel overwhelming. But it doesn’t have to be! This post breaks down why 1099 prep can be such a hassle and share practical tips to make it easier for everyone involved.
Key Tasks for Sales and Customers in QuickBooks Online
Efficiently managing customer sales and payments in QuickBooks Online helps keep your business finances organized. This guide covers essential tasks like creating invoices, recording sales receipts, and using the Undeposited Funds account. Learn how to streamline your workflow and maintain accurate records for better financial insights.
Accounting For Borrowing Cost Of Long-term Projects
Borrowing costs encompass all expenses related to borrowing funds, particularly interest costs. For specific assets like manufacturing plants or large-scale construction projects that take substantial time to complete, these costs are often capitalized. Proper capitalization requires that the asset is likely to bring future benefits, and the borrowing costs can be reliably measured.
Step-by-Step Accounting for an Asset Bought on an Installment Basis
When purchasing an asset on an instalment basis, accurate accounting is essential to track both the asset and the associated liabilities. This guide provides a comprehensive look at how to properly record the transaction, manage monthly payments, and account for depreciation over time. Learn the step-by-step process of maintaining clear financial records, ensuring compliance, and gaining valuable insights into your company’s assets and liabilities.
How To Fix The Beginning Balance Discrepancy in QBO Reconciliation
Struggling with QuickBooks reconciliation? If you’re seeing a beginning balance alert, it could mean that cleared transactions were changed or edited since your last reconciliation. From adjusting transaction amounts to fixing deleted entries, this guide walks you through how to resolve common reconciliation issues and get your account back on track. Whether it’s voluntary edits or involuntary mistakes, these simple steps will ensure your financial records stay accurate and up to date.
A Simple Guide to Understanding Payroll Deductions
Understanding payroll deductions doesn’t have to be complicated. In this simple guide, we break down the different types of deductions like taxes, social security, and health insurance, helping you make sense of your paycheck and ensure you’re prepared for financial responsibilities. Whether you’re an employee or employer, this post offers a clear explanation to help you navigate payroll deductions with confidence.
The Origins of Cryptocurrency and Blockchain Technology
Cryptocurrency and blockchain technology have sparked a financial revolution, challenging traditional systems and enabling decentralized transactions. This blog post explores the origins of cryptocurrency, tracing the development of blockchain technology from its early concepts to its impact on global finance. Discover the key milestones and visionary figures that have shaped this digital currency revolution.
Paperless Business: How To Unlock Significant Benefits
Embracing a paperless operation streamlines workflows and offers substantial benefits such as cost savings, enhanced data security, and environmental sustainability. In this post, we explore the key advantages of going paperless, practical steps for a smooth transition, and real-world examples of successful implementations. Discover how to unlock the full potential of a paperless business.
Crafting an Impactful Business Video: A Comprehensive Guide
Video content is essential for businesses to engage their audience and convey messages effectively. Creating an impactful business video involves creativity, strategic planning, and technical know-how. This guide covers everything from defining your target audience to selecting the right equipment and editing techniques. Follow these steps to produce professional-quality videos that elevate your brand and captivate your audience.