Category: Bookkeeping

They also prepare groundwork for year-end payroll reports, liberating business owners from significant administrative burdens and mitigating the risk of inaccuracies. A well-prepared balance sheet gives you a snapshot of your company’s financial position at a specific point in time by showing what you own (assets) and what you owe (liabilities). The income statement details… Continue reading Accounting & Bookkeeping Virtual Assistant Services

Test their communication and problem-solving abilities, and even gauge their potential culture fit for your team. As mentioned before, they should know how to use the latest accounting software and also understand complex financial data. Your second option is to use accounting software.Even though software makes the bookkeeping process quicker, getting used to the tool… Continue reading A Complete Guide to Bookkeeping Virtual Assistant Skills

For example, If your startup costs are $50,000 and your product sells for $50 with a $20 production cost, break-even analysis shows you’ll need to sell roughly 1,700 units to cover your expenses. From there, you can decide on pricing, production, and sales targets so your business can stay on the right track from the… Continue reading A Quick Guide to Breakeven Analysis

To find your variable costs per unit, start by finding your total cost of goods sold in a month. If you have any other costs tied to the products you sell—like payments to a contractor to complete a job—add them to your cost of goods sold to find your total variable costs. Break-even analysis helps… Continue reading Break-Even Point Formula & Analysis for Your Business

Put systems in place during the transition to set your business up for FIFO success. However, the inventory accounting differences between FIFO and LIFO mean that FIFO typically results in higher taxable income. So while FIFO may improve financial reporting metrics, it can also increase a company’s income tax burden. GAAP (Generally Accepted Accounting Principles)… Continue reading How to Implement the FIFO Method in Your Inventory Management: A Step-by-Step Guide for You

Running an effective company requires diligence and focus, and accounting is often a complicated, time-consuming task that takes more work than a single person can do. Freelance bookkeepers may be able to work online, in-person at your business, or both. Let’s take at the benefits and drawbacks of outsourcing bookkeeping, so you can ditch the… Continue reading The Ultimate Guide to Outsourcing Your Bookkeeping Work: Streamline Your Finances for Success

Cloud-based accounting software like FreshBooks is a comprehensive program that offers robust, trustworthy, and cost-effective financial services. If you’re tired of doing your own bookkeeping, you should consider this option. You can hire local bookkeepers or a bookkeeping team located near your company. In this guide, we’ll show you the areas you can outsource and… Continue reading The complete guide to finance and accounting outsourcing services

With Brisk Books, you can focus on growing your store while we keep your finances organized and up-to-date. Healthcare providers need accurate financial records to maintain compliance and ensure smooth operations. Our bookkeeping services for healthcare professionals cover everything from patient billing to payroll processing. Perfect books If you need to share files with your… Continue reading Income Tax & Accounting Services, Бухгалтерские услуги, налоги в США

With their expertise, they ensure businesses adhere to local, state, and federal requirements, minimizing legal and financial risks. Detailed and accurate reports, such as profit and loss statements and cash flow analyses, provide insights into a business’s financial health. Construction Bookkeeping Services ensure effective tracking of accounts receivable and payable, providing businesses with a clear… Continue reading Top 11 Construction & Contractor Bookkeeping Services, Companies, Consulting Firms, & Agencies

Our intuitive software automates the busywork with powerful tools and features designed to help you simplify your financial management and make informed business decisions. Simplicity can work for individuals or very small businesses, but not as much as a company expands. Therefore, it might make sense for a small business to start with the cash-basis… Continue reading Cash Vs Accrual Accounting