This is a financial step that requires a lot of oversight because of how quickly things can go wrong if money is mismanaged or invested poorly. That’s why nonprofits need to have a clear investment policy in place. Revenue for a nonprofit refers to all of the money it generates, whether through direct donations, membership […]
Category Archives: Bookkeeping
A single step income statement lists line items for revenues and costs and expenses with no subtotals, reaching a total for net income (loss) as the bottom line. To start the total cost of goods sold is deducted from the net sales to achieve the gross profit. This gross profit margin shows how profitable a […]
Accounts Receivable(AR), quite the opposite of Accounts Payable(AP), stands for money owed to your business by your customers after goods or services have been delivered but not yet paid for. The Alternative Minimum Tax(AMT) is a tax calculation designed by the IRS to ensure that high-income earners pay at least a minimum amount of tax. […]
QuickBooks is a robust accounting software that can be used by multinational companies or start-ups not yet dealing with complex financial transactions. QuickBooks is a versatile, feature-rich software that can How to Invoice as a Freelancer be integrated with your internal services and linked with other applications used by your staff. Yes, but the integration […]
The PAP’s longstanding control has resulted in limited political pluralism and a highly centralised governance structure over national institutions. One of the five founding members of ASEAN, Singapore is also the headquarters of the Asia-Pacific Economic Cooperation Secretariat, the Pacific Economic Cooperation Council Secretariat, and is the host city of many international conferences and events. […]
Physical assets are subject to depreciation to accurately ascertain their effect on the expenses and the revenue generated by a company. Properly handling depreciation via journal entries keeps financial records accurate and compliant with accounting standards, supporting informed business decisions. Depreciation accounting is an important topic under the Financial Reporting (FR) paper in the ACCA syllabus. […]
If another school has merged into your institution, you are responsible for reporting that school’s students under the OPEID in which they were enrolled as of June 30, 2024, or where they completed or withdrew. In scenarios where data from the other school is unavailable, your school should be prepared to provide an explanation for […]
This document how much does an enrolled agent make explains that you can obtain an Enrolled Agent designation in 1 of 2 ways. The first is by passing the Special Enrollment Examination (SEE), which has 3 parts. Of course, having your own agency also removes any limitations on your salary. Therefore, you should compare the […]
From the CFO down to the staff, they will become your permanent outsourced solution to your bookkeeping and finance needs. We can constantly monitor your financial data and identify problems in your reports before they come to the attention of fiscal authorities. Our company will seamlessly integrate your existing services into your newly set-up QuickBooks […]
Accurate expense tracking is crucial for maintaining a healthy daycare business. It helps you understand your cash flow, prevents overspending, and enables you to identify areas where cost savings are possible. Common tax deductions for daycare businesses include employee wages, bank fees, advertising costs, supply expenses, furniture and equipment purchases, and meal expenses. Yet, bookkeeping […]