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Category Archives: Bookkeeping
For example, an mm meaning annual salary of $60,000 might appear as $60k instead of $60M. We have measures like meters and kilometers to express bigger distances, like the distance between two cities, the height of mountains, lengths of rivers, etc. Here, millimeters help us accurately express their length. Here’s a fun example to understand […]
Speaking of financial statements, it’s important that you take the time to review your financial statements on a regular basis. As an owner, you rely on their accuracy to make key management decisions. This can be particularly important for small business owners, who have less room for error. How are product costs reported in financial […]
ADP has an A+ rating with the BBB, though its customer review score is low. You can enter employee hours, submit payroll, view payroll taxes and forms, and even pay payroll taxes. They also have an app for employees to track their hours and clock in or clock out. Intuit Quickbooks Payroll: The competition QuickBooks […]
ADP has an A+ rating with the BBB, though its customer review score is low. You can enter employee hours, submit payroll, view payroll taxes and forms, and even pay payroll taxes. They also have an app for employees to track their hours and clock in or clock out. Intuit Quickbooks Payroll: The competition QuickBooks […]
However, this can be confusing since not all current assets and liabilities are tied to operations. For example, items such as marketable securities and short-term debt are not tied to operations and are included in investing and financing activities instead. Working capital is a basic accounting formula (current assets minus current liabilities) business owners use […]
This section provides the sum of the total authorized shares, the total number of shares outstanding, and the total floating shares. Total outstanding shares represent the number of shares of a company’s stock that are currently held by all its shareholders, including institutional investors, company insiders, and the public. The company has issued these shares, […]
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With a semi-monthly payroll, employees receive payment twice a month. Paychecks are distributed on fixed dates, say 1st and 15th, or 15th and 30th. Semi-monthly when compared to other pay frequencies, require less payroll processing as the pay periods are only 24 per year. Since some months have 30 days and others have 31 days, […]
Here’s how the different types of accounting transactions and balances affect the value of owner’s equity in a business. Owner’s equity is one of the three components of the accounting equation so understanding its basics is a key step for beginners who are learning accountancy. You want to maximize your business’s profits and minimize the […]
Sponsoring departments making service or honorarium payments to international visitors who are residents of tax treaty countries should arrange for in-person interviews for their visitors with Tax Services. If a visitor does not speak English, the sponsoring department should also arrange for an interpreter to be present at the interview. ITINs that have not been […]
Lastly, having a robust business infrastructure and operational systems in place is crucial before embarking on a scaling journey. This includes having efficient processes, a talented and skilled workforce, and reliable technology systems. Scaling without a solid foundation can lead to operational challenges and hinder your ability to meet the increased demand. Create a single […]
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