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When your company purchases goods on credit that need to be paid back in a short time, it is known as accounts payable. As a business...

Bookkeeping can be one of the most daunting processes when you’re running your own business. Maintaining accurate records of financial...

The Completed Guide To Better Law Firm Bookkeeping and Accounting Practices!

While you’ve spent years honing your skills to become a great lawyer, you didn’t understand deeply about law firm bookkeeping or...

Attorneys routinely receive and handle money that belongs to clients for future use such as security settlement payments, fees advanced...

A three-way trust reconciliation involves three components that must match. If the three numbers don't match, you have to investigate to kno

Many people often consider ‘income’ as a synonym of ‘revenue’ since both terms refer to positive cash flow. Understanding the difference...

If you’re running a construction company, regardless of whether it is a general contractor subcontractor or something in between, you...

Lawyers are not accountants and they often make the same common mistakes when it comes to accounting for law firms.

Debtor and Creditor are common terms when it comes to bookkeeping. Although these two terms might seem straightforward, it's important to...

Overbilling in construction occurs when a contractor bills for contracted labor and materials before that work is actually completed

Business success and sustainability are dependent on revenue. This metric is also critical to accounting and law firm bookkeeping, law...