Category: Bookkeeping

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

It also enables you to identify areas where you may be overspending or underfunding and adjust accordingly. Even employees not directly affected by job loss or reduced benefits may still be impacted by a death spiral. A sense of uncertainty and instability within the company can make it difficult for employees to feel satisfied with… Continue reading What is a Death Spiral? Definition Meaning Example

Whenever a business sells an item, even on credit, the transaction is recorded immediately, regardless of whether or not payment is made at that time. One reason accrual accounting is able to provide a more accurate overview of a business’ performance over a landlord tax guide specific time period is that future revenues and expenses… Continue reading Accrual Accounting vs Cash Basis Accounting: What’s the Difference?

Our bookkeeping staff in Houston is seasoned in working with corporations from various industries. bookkeeping services houston We are a premier, affordable Houston bookkeepers and offer competitively priced business advisory services. We can integrate your financial services with the other applications utilized by your staff and set up QuickBooks to handle your internal work processes.… Continue reading Tax and Accounting Services in Houston, TX

The $300 moves to the income statement as an expense under COGS, directly linked to the revenue of $600. You’ve generated $600 in revenue, but part of that revenue comes at the expense of reducing your inventory. Chartered accountant Michael Brown is the founder and CEO of Double Entry Bookkeeping. He has worked as an… Continue reading Inventory Accounting: Definition, How It Works, Advantages

Trade payables constitute the money a company owes its vendors for inventory-related goods, such as business supplies or materials that are part of the inventory. Accounts payable include all of the company’s short-term obligations. Each time a company purchases goods or services on account, it records an accounts payable liability in its books of accounts. In… Continue reading Payroll Journal Entry: Types, Examples & Best Practices

Messages are sent and received via your 1-800Accountant Client Portal, typically within hours. You can schedule a monthly call to discuss financial statements, ask questions, and address pressing concerns. Additional phone calls with your dedicated bookkeeper can be scheduled as needed. Frequently Asked Questions about Bookkeeping No matter how far behind you are–even by months… Continue reading 1-800Accountant Reviews & Success Stories

Spreadsheets can be easily imported into your accounting software so you can add multiple expenses in batches. There are many receipt scanner apps that make it easier to store business expense receipts digitally. Plus, if you scan your business small business bookkeeping expense receipts, you don’t need paper backups. To simplify your bookkeeping responsibilities, create… Continue reading How to Do Bookkeeping for a Small Business with Pictures

Bookkeeping is important because it helps you make better business decisions by first understanding your financial performance. As a business owner, a large part of your income comes from your business. In order to know what you earned, you have to know what your business earned first. So to prevent this, in this post we’re… Continue reading Small Business Bookkeeping 2025 Guide