Author: protecos

Tax management for e-commerce stores can be difficult, but it’s much easier if you have accounting software to manage the process. However,  you must still track and pay state and local taxes, as well as make tax-related filings, such as sending Form 1099 to contractors. E-commerce accounting is about managing the financial aspects of online… Continue reading E-Commerce & Online Retail Accounting Services

You don’t have to worry about losing everything in a fire or an unforeseen event. It’s worth pointing out that since QuickBooks focuses on the online versions, it receives regular updates and seems to be slowly catching up regarding features. So, in the future, we should see QuickBooks Online becoming the better overall solution and… Continue reading Quickbooks Online vs Desktop: Which Is Best in 2024?

The AI-first bank of the future will also enjoy the speed and agility that today characterize digital-native companies. It will collaborate extensively with partners to deliver new value propositions integrated seamlessly across journeys, technology platforms, and data sets. That said, financial institutions across the board should start training their technical staff to create and deploy… Continue reading How Regulators Worldwide Are Addressing the Adoption of AI in Financial Services Insights Skadden, Arps, Slate, Meagher & Flom LLP

Think of retained earnings as savings, since it represents the total profits that have been saved and put aside (or “retained”) for future use. This number is the sum of total earnings that were not paid to shareholders as dividends. Assets include cash and cash equivalents or liquid assets, which may include Treasury bills and certificates of deposit. For example, ABC Co.… Continue reading Accounting Equation Assets = Liabilities + Equity