Generally, a D/E ratio of more than 1.0 suggests that a company has more debt than assets, while a D/E ratio of less than 1.0 means that a company has more assets than debt. The principal payment and interest expense…
Double-entry accounting has been in use for hundreds, if not thousands, of years; it was first documented in a book by Luca Pacioli in Italy in 1494. The inventor of double-entry bookkeeping is not known with certainty, and is frequently…
By 2019, though, Wave’s workforce had grown to 250 employees, and the company was acquired by H&R Block. This free accounting software is available online and through its mobile app. The free features include income and expense tracking, financial reports,…
Understanding that each business is unique, we sit down with you and determine a plan of action together. The software we use for file exchange are encrypted with bank-level security. We are able to give clients peace of mind without…
True to their name, direct expenses directly impact the cost of producing goods or services, thus impacting your profitability. On the other hand, indirect expenses don’t directly affect the cost of producing goods or services, but they are still necessary…
As a small business owner, you might be concerned about a cloud service provider storing your data. For example, using cloud software, if your laptop is stolen, no one can access your data unless they have a login to the…
Limited liability companies with a single owner or member get taxed by the IRS as sole proprietorships. For example, with separate personal and business accounts, it becomes easier to record the appropriate accounting for an llc business receipts in the bookkeeping…
Finding work as a freelance accountant is pretty much like starting a new business. Many aspects of your job are in your hands, but that freedom of choice comes with responsibilities. Before we get there, let’s see where you should…
This article compares 501(c)(7) vs. 501(c)(3) and delves into each type to help you determine which organization type best fits your needs. Deciding whether to apply for 501(c)(3) or 501(c)(4) status depends on the mission of your organization and its…
A well-organized COA is crucial for effective financial management and reporting, paving the way for accurate and efficient accounting processes. Their role transcends mere bookkeeping; they interpret financial data to provide you with actionable insights. Basic data entry errors include…
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