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Jul 28, 20202 min read
The Cash Basic Versus The Accrual Basic
The cash basis and accrual basis of accounting are two different methods used to record accounting transactions. The core underlying...
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Jul 28, 20202 min read
4 changes on 2020 tax deduction
The tax season is here again! This year, the IRS announced 4 recent changes in tax laws that can save you a lot. 1. Individual Income Tax...
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Jul 26, 20202 min read
Progress Invoice in Quickbooks - Step by Step Instruction
You would like to be paid on time? You need to send out invoices on time. Especially, people who work in the Construction Industry. As a...
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Jul 5, 20203 min read
Best Practices for Construction Accounting
Accounting and financial management is a challenging task in all industries. TABLE OF CONTENT Cash Basic Job Costing Percentage of...
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Jul 1, 20203 min read
How to process Accounts Receivable
On the last article, we talked about the definition of Account Receivable and its importance to business. Subsequently, Accounts...
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Jun 30, 20202 min read
What is Accounts Receivable?
Most businesses sell to their customer on credit . That implies, they sell and deliver goods or services quickly, send an invoice, then...
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Jun 28, 20203 min read
Negative Liability on Balance Sheet
A Balance Sheet gives you a financial snapshot of the company as of the specific date. It calculates how much the company worth (its...
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Jun 23, 20202 min read
Why is bookkeeping essential for business?
Have you ever wondered why you should find a professional bookkeeper? As US Small Business Administration states, “half of all new small...
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Jun 23, 20202 min read
Three-Way Reconciliation Of Your Trust Account
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...
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Jun 21, 20202 min read
LAW FIRM: DO and DON’T of Trust Accounting
With regards to dealing with your client’s trust accounts, it is critical that your law firm has the correct processes and practices...
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Jun 21, 20202 min read
UPDATED NEWS on Paycheck Protection Program
On June 5, 202, the Paycheck Protection Program Flexibility Act (PPPFA) was signed into law. The PPPFA makes a handful of significant...
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Jun 21, 20202 min read
How to a make sure my books are “ready for Tax Return”?
Every tax season, it is moment of truth about whether the company book is ready to go. But how do we know that company's book is ready?
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