Starting a Bookkeeping Business: A Detailed Six-Step Guide
Depending on your business model, you may be able to start your own business for only a few hundred or a few thousand dollars. That’s especially true if you rely on your home office and don’t have to worry about hiring additional employees. Your only real costs will be your business/bookkeeping software and the initial […]
The Beginners Guide to Nonprofit Auditing Free Checklist + FAQs
During these audits, your auditor will review your organization’s various financial statements and reporting to determine opportunities that will help improve the financial health of your organization. They’ll also examine your internal controls to ensure the security of your finances. Generally, the cost is based on the amount of time the independent auditor or audit […]
Write-Offs: Understanding Different Types To Save on Taxes
This method violates the GAAP matching principle of revenues and expenses recorded in the same period. The balance sheet will reflect greater revenue than was earned, which is against GAAP rules. This is why GAAP prohibits financial reporting using the direct write-off approach. When preparing financial statements, the allowance technique must be employed. This technique […]
6 Tips to Improve Law Firm Accounts Receivable Management
Stay on top of matters, communicate with clients, and view documents from your smartphone or any device with an internet connection. When an A/R department takes on additional accounts or finds itself temporarily short-staffed ARMS can step in for the short haul or long haul. Our representative will work with you to customize the ARMS […]
3-Way Matching Process In Accounts Payable
The system also ensures that all the necessary paperwork is in place and all the documents are up to date. This helps to reduce any inaccuracies and errors that could otherwise occur. Setting up an automation system is a great way to streamline the three-way matching process. An automated system can quickly and accurately compare […]