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In this scenario, a write-down is recorded to the reserve for obsolete inventory. A contra equity account is an account that is used to offset another equity account on the balance sheet. Contra equity accounts are typically used for a company to buy back its stock or shares. If a company has a history of…
You have to take into consideration not only the interest rate but also the period of time you are going to invest your money for and the kind of interest (whether it’s simple or compound). With annual percentage yield, you can compare a number of interest rates that have different compounding periods. This is because…
Today, AI is not merely a trendy term in the accounting industry; it’s a transformative tool reshaping the execution of accounting tasks. Some of the links on our site are from our partners who compensate us. This is an expensive time to be running a small business, but there are ways to protect yourself from…
We take the time to understand your business and match you with a virtual assistant who has the skills and experience needed to handle your specific bookkeeping tasks. Virtual bookkeeping assistants (VBAs) are highly skilled professionals who manage a company’s financial records remotely. Armed https://www.accountingcoaching.online/how-to-make-an-operating-statement/ with experience and technology, they are more than mere number…
From personal financial guidance, retirement planning and tax preparation to tax return services and tax audit services, we perform all of our CPA services with precision and meticulous attention. Any individual with a preparer tax identification number (PTIN) is eligible to file your income taxes on your behalf. However, this doesn’t necessarily mean they will…
In case there’s a critical feature that Vtiger doesn’t have, you can connect it to Zapier to cover your use case. As a small business, you’re no longer in the early days of figuring out how things work. You have a good client base, your metrics are solid, and now you’re looking to scale. To…
I decided to have them do my taxes and I have to say, these people are FANTASTIC! They are on constant communication, they dot the i’s and cross the t’s quickly and efficiently. I am extremely pleased with them and if you’re looking for an accounting firm that doesn’t put you off and knows the…
