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Mar 8, 20224 min read
Variable Cost - Definition, Example, and Guide to Reduce
Variable costs and fixed costs comprise the total cost of your business activity. While these costs seem complicated at the first plan,...
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Mar 2, 20223 min read
Calculating Cost of Goods Sold for Contractors - Expert Guide
As a contractor, you are working on many projects, whether it is a small task or a big project, it requires months, years, or even...
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Feb 23, 20222 min read
Closing Entries: Everything You Need to Know
In accounting, bookkeepers and accountants often refer to the process of closing entries as closing the books. Closing entries accounting...
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Feb 18, 20223 min read
Integrating Purchase Orders with Accounting Systems for Enhanced Efficiency
In today's fast-paced business environment, efficiency and accuracy in financial management are not just goals; they are necessities....
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Feb 16, 20225 min read
Everything Contractors Need to Know About Retainage
In the construction industry, managing financial intricacies like 'retainage' — a practice where a portion of the contractor's payment is...
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Feb 11, 20226 min read
Best Accounting Software for Small Business of 2023
Are you finding the best accounting software that fits your business needs? We’ve rounded up the best accounting software that makes it...
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Feb 9, 20225 min read
What is Progress Billing? How to Implement and Why You Should Use It
Many businesses undertake long-lasting projects with substantial budgets but struggle to find an effective way to invoice customers. Many...
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Jan 21, 20224 min read
Outsourced Bookkeeping Services for Small Business
As a small business owner, you have everything on your plate, from taking care of customer relationships, marketing and sales, finance,...
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Jan 14, 20223 min read
TOP 4 Key Differences Between a Trial Balance and Balance Sheet
As a business owner, it’s important to differentiate the meaning of a trial balance and balance sheet so you can use them for the right...
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Jan 12, 20224 min read
Bookkeeping Vs Accounting: 5 Key Differences
Under an untrained eye, bookkeeping and accounting may appear to be the same profession. It’s a common misconception regarding the two...
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Jan 5, 20223 min read
2022 Gift Tax Rate: What It Is, How It Works and Who Has to Pay It
During our lifetime, you always want to give the best things to your beloved ones. And while sending valuable gifts to your spouse,...
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Jan 5, 20222 min read
2022 Standard Deduction Amounts - What You Need to Know About Inflation Adjustments
The IRS released the new tax brackets and standard deduction amounts for the 2022 tax year. All Americans are facing a long list of new...
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