Category: Bookkeeping

Accountants often focus solely on taxes, providing financial information to business owners long after it’s relevant for business decisions. We provide easy-to-understand financial statements and reports that give you visibility into your business’s finances so you can make informed decisions and grow your business. Our bookkeepers have years of experience and are experts in bookkeeping… Read more »

Give your bookkeeping career a jump-start with the certification that trains you with the most advanced bookkeeping courses. The first step to becoming a certified bookkeeper is ensuring you’ve met all professional and educational requirements. Regardless of whether you are pursuing credentials through AIPB or NACPB, your supervisor or a former employer must validate your… Read more »

This infusion can be a strategic move to bolster the partnership’s financial health or to bring in expertise that complements the existing partners’ skills. Another point to remember is that the ‘appropriation account’ is an additional accounting statement that is required for a partnership. In the case of a partnership, the statement of profit or… Read more »

In other words, debit is all incoming money, while credit is all outgoing money. However, if you want more advanced reporting and a more robust mobile experience, you’re better off looking at other solutions on this list. Billy/Sunrise also got some bad reps for its choices regarding customer loyalty when it was acquired. What’s New… Read more »

If the Singapore company is part of a corporate group (whether onshore or offshore), then the tests above are measured by reference to the group, rather than the company in Singapore. This can mean that a company with limited operations in Singapore may still need to be audited, because of the activities in the rest… Read more »

The bank might make a mistake, like double-charging a bank fee or incorrectly posting a transaction. These bank errors can lead to differences between your internal financial records and your bank statement. It’s a good idea to use a dedicated bank account just for your business. That way you know all the transactions on your… Read more »

Since these assets produce benefits for more than one year, they are capitalized and reported on the balance sheet as a long-term asset. This means when a piece of equipment is purchased an expense isn’t immediately recorded. Instead, the cost of the asset is allocated over its useful life. As we continue to walk our way down the balance sheet,… Read more »

Most balance sheets report them separately by showing the gross A/R balance and then subtracting the allowance for doubtful accounts balance, resulting in the “Accounts Receivable, net” line item. The allowance reserve is set in the period in which the revenue was “earned,” but the estimation occurs before the actual transactions and customers can be… Read more »

If you’re comfortable with your current software, ensure your bookkeeping service supports it. Their services include managing financial transactions, payroll processing, accounts management, and generating financial statements. They provide a streamlined transition process and do not outsource their work, guaranteeing local expertise. With Bookkeeper360, you’ll get a dedicated virtual accountant who sends detailed reports on… Read more »

It also has ample collaborative features for dispute management and past-due collections. To automate the accounts receivable process and accelerate collections, businesses can implement AR automation software like Centime. Centime’s AR automation software simplifies the customer payment experience and improves working capital via automated payment reminders, secure payment methods, and documented customer interactions. For more… Read more »