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Most businesses sell to their customer on credit . That implies, they sell and deliver goods or services quickly, send an invoice, then...

Explore the essentials of Inventory and Cost of Goods Sold (COGS), crucial for businesses dealing in physical goods.

A Balance Sheet gives you a financial snapshot of the company as of the specific date. It calculates how much the company worth (its...

Have you ever wondered why you should find a professional bookkeeper? As US Small Business Administration states, “half of all new small...

At the end of every month, it is time for you to reconcile your trust bank account. This lets you confirm that your transaction records...

With regards to dealing with your client’s trust accounts, it is critical that your law firm has the correct processes and practices...

An attorney client trust account, also known as an escrow account. These trust accounting rules are designed to maintain the integrity of...

Accounts Payable 101 Basically, Accounts Payable is the money your business owes. Your business needs lots of things to be in business:...

What is Cash flow statement? Cash flow statement also referred to as Statement of Cash Flows is one of three main financial reports that...

1. Review the Requirements of PPP Congratulation! You got PPP loan for your business. Before using, let’s review all the requirements to...

This is the world in which you hurt yourself if you could not manage accounts payable effectively. Why? Well, firstly, invoicing is the...

Although the concept of having negative inventory appears to be ridiculous, it can exist and happen to any business. Yes, you are true...