THIS IS OUR THANK FOR YOU

eBOOK - THE BEGINNER'S GUIDE TO LEARN QUICKBOOKS

TAKE IT NOW

OUR BLOG

Types of Tax-Deductible Meals and Entertainment

Tammy Hoang

Aug 17, 2020
2 min

Types of Tax-Deductible Meals and Entertainment

To be qualified for deduction, business meal and entertainment expenses must be directly associated with the active conduct of a trade or business, the production or collection of income. People must be able to prove: The amount of the expenditure The time, date, and place of the expense The purpose of the business discussion The identification of the people who participated It can be challenging; however, to understand which meals and entertainment are a valid deduction, and

19 views0 comments

Why is bookkeeping essential for business?

Tammy Hoang

Jun 23, 2020
2 min

Why is bookkeeping essential for business?

Have you ever wondered why you should find a professional bookkeeper? As US Small Business Administration states, “half of all new small businesses fail within the first five years, and the number one cause of failure is financial mismanagement.” Bookkeeping is essential for keeping track of a company’s financial status, but what is bookkeeping and exactly does bookkeeping do? Here are some reasons why you should pay attention to bookkeeping to maintain your profitable busine

34 views0 comments

What is Account Payable and Why is it Matter?

Tammy Hoang

Jun 15, 2020
4 min

What is Account Payable and Why is it Matter?

Accounts Payable 101 Basically, Accounts Payable is the money your business owes. Your business needs lots of things to be in business: inventory, office supplies, services like phone and internet, and the list goes on. Different from Accounts Receivable, when you accept delivery of these things and you have a term to pay for it, that’s a debt you owe and it's called an account payable. That debt is a pending outflow of cash and thus an Account Payable. You still have the cas

80 views0 comments

HOW TO PREVENT YOUR PERSONAL MONEY HABITS FROM AFFECTING YOUR BUSINESS

Tammy Hoang

Jun 14, 2020
3 min

HOW TO PREVENT YOUR PERSONAL MONEY HABITS FROM AFFECTING YOUR BUSINESS

We all have bad money habits. It’s the fact of the matter – we are just human. As business owners, unfortunately, we likely learn money facts the hard way majority of the time. However, whereas we’re gaining experience and learning as we go, negative money behaviours already exist that never ought to have shaped in any cases. From living with a “pay now, worry later” mindset to overindulging in business expenses you don’t really need (simply because you know payday is right a

29 views0 comments

Statement of Cash Flows - Definition and Detailed Explaination

Tammy Hoang

Jun 10, 2020
2 min

Statement of Cash Flows - Definition and Detailed Explaination

What is Cash flow statement? Cash flow statement also referred to as Statement of Cash Flows is one of three main financial reports that are generated regularly. It is used to show how much cash the company has on hand during a specific period of time. The cash flow statement provides all cash inflows and outflows of the company through 3 main areas operations, investment, and financing. By analyzing this statement, the company’s stakeholders such as investors, banks, shareho

33 views0 comments

Affordable Bookkeeping with Irvine Bookkeeping

Tammy Hoang

Jun 7, 2020
1 min

Affordable Bookkeeping with Irvine Bookkeeping

As a business owner, you sure can do your own bookkeeping, Just make sure it’s consistent habit. It’s just like: doing laundry every week. You need to wash, dry, fold them and put them away. The task is easy until you don’t do it for a couple of months, or years . Bookkeeping is not difficult , just time consuming. It takes you away from running your business. Let Irvine Bookeeping take care of your book, while you focus on developing your business! #Bookkeeping #IrvineBookke

15 views0 comments

Paycheck Protection Program (PPP Funds) – Which way to record properly in QuickBooks Software

Tammy Hoang

Jun 7, 2020
5 min

Paycheck Protection Program (PPP Funds) – Which way to record properly in QuickBooks Software

Now, we hope that you have received PPP funds to support the business. It is time to think about what you should do after receiving the money. In this article, we will not go over who is eligible for this loan or how to apply this. Instead, we investigate the method of tracking the PPP funds in the QuickBooks Software. Before dealing with the amount, make sure you get the nature of the PPP fund. Paycheck Protection Program is a loan designed by SBA to support small businesses

73 views0 comments

What Cause Negative Inventory - How Can It Affect The Business?

Tammy Hoang

May 20, 2020
3 min

What Cause Negative Inventory - How Can It Affect The Business?

Although the concept of having negative inventory appears to be ridiculous, it can exist and happen to any business. Yes, you are true when considering how we can sell something that we do not have close by. Surprisingly, negative inventory is a very common occurrence because many people consider running negative inventory as a part of the normal process. In fact, negative inventory should be a flag that there is a larger problem inside the process. So, if you record negative

1,162 views0 comments

Nicole Feng

Feb 12, 2020
2 min

How to prevent your personal money habits from affecting your business?

We all have bad money habits. From living with a “pay now, worry later” mindset to overindulging in business expenses you don’t really need (simply because you know payday is right around the corner), many of us face to poor money habits. Here are a couple of beginning points to help you handle those common individual cash propensities that affect you and your business: Pay Attention To Your Financial Education In case you are on the lucky side and have already acquired some

17 views0 comments

How do you choose the right accountant for your business?

Nicole Feng

Jan 29, 2020
2 min

How do you choose the right accountant for your business?

We often find that Business owners are particularly found their value from the firm of accountants. It is true that preparing statutory accounts is somewhat commoditized, but it usually isn’t long before businesses need help with financial forecasting and further investment. Not all accounting firms are well placed to help with anything other than basic accounting compliance. At this time, choose an accountant who can help you grow like building houses is the key. To find suc

25 views0 comments

4 Ways to Get Your Team Excited About Accounting

Zoe Lu

Nov 21, 2019
2 min

4 Ways to Get Your Team Excited About Accounting

Small business owners said that bookkeeping was their least favorite task. However, most small business owners understand how important it is for their business -- It helps them manage finances, capture expenses/loss, track profitability, monitor cash flow, assess solvency, and a few benefits different. The problem is that your employees may view accounting as just another task. For them, the numbers might seem arbitrary. Salespeople only care about sales. The technical depar

22 views0 comments

Miley Nguyen

Dec 10, 2017
3 min

Year-end Bookkeeping Checklist

As the extended tax filing season is drawing to a close, starting to think about bookkeeping and taxes is too late. It is actually important to update and review bookkeeping, and make some tax planning before the turn of the calendar. Here is a compulsory checklist for year-end bookkeeping. 1. Reconcile the books A reconciled QuickBooks file can be confirmed with a bank statement telling bookkeeper and tax preparer that everything available in the file. Now they just need to

106 views0 comments

Why Small Business Should Outsource Bookkeeping Service?

Tammy Hoang

Dec 9, 2017
2 min

Why Small Business Should Outsource Bookkeeping Service?

We often meet a range of clients at a critical turning point in their growth phase. Due to the elusive million-dollar mark in annual revenue, business owners may feel the burden of managing their own bookkeeping catching up to them. It doesn’t take long for a new business owner to understand that accurate and up-to-date financial records play an essential role in the success of a business. Simultaneously, the daily tasks required to maintain these records often fall to the bo

60 views0 comments

Miley Nguyen

Nov 10, 2017
3 min

Deducting Business Expenses

Business expenses are the cost of conducting a trade or business. These expenses are usually deductible if the business operates to gain a profit. What Can I Deduct? To be deductible, a business expense must be both ordinary and necessary. An ordinary expense is one that is common and accepted in your trade or business. A necessary expense is helpful and appropriate for your trade or business. It is essential to separate business expenses from the following ones: The expenses

57 views0 comments

5 Simple Tips To Keep Your Small-Business Finances In Order

Anna Dang

Aug 11, 2016
3 min

5 Simple Tips To Keep Your Small-Business Finances In Order

After starting three small businesses, I’ve learned firsthand the headaches that accounting causes for most small business owners. It’s one of those back-office tasks that never cross your mind when you decide to run your own business, and yet it sucks up your day and makes running a successful business that much harder. But there’s hope, and it starts with getting organized. Here are 5 tips I’ve learned by helping business owners trying to tackle their accounting: 1. Keep it

45 views0 comments

Small Business Tax Preparation Checklist

Anna Dang

Jun 28, 2016
1 min

Small Business Tax Preparation Checklist

Preparing your own business tax return, especially for the first time, can be a frustrating experience if you don't have all the necessary information at your fingertips. Gathering certain documents before you begin will help you fend off the frustration. Here's a list of items you may find helpful when preparing your business tax return: Business information Last year's business tax return Articles of incorporation Partnership agreement Accounting records Bank statements Cre

29 views0 comments

David Wang

Nov 8, 2015
2 min

TAX TIPS FOR SMALL BUSINESS

Tax season is around the corner and whether you’re filing as an LLC or S Corp, you want to get the most savings possible. Here are some basics of tax tips on deductions for small businesses: Get the most out of your auto/gas deduction: The government lets you deduct business-related car expenses, which you can calculate using two different methods: Standard Method (in 2015 it is 57.5 cents per business mile plus tolls and parking) & Actual Method: add up all actual automobil

26 views0 comments

THIS IS OUR THANK FOR YOU

eBOOK - THE BEGINNER'S GUIDE TO LEARN QUICKBOOKS

OUR BLOG

OUR SERVICES

Catch Up Bookkeeping

Account Receivable

Account Payable

Inventory Bookkeeping

QuickBooks Solutions

Sage Solutions

CONTACT US







2372 Morse Ave., Irvine, CA 92614
(949) 545-9980
support@irvinebookkeeping.com

SERVICES AREAS

Irvine | Orange County | Riverside | Fullerton | Tustin | Lake Forest | Fountain Valley | Costa Mesa
| Anaheim | Mission Viejo | Los Angeles | Beverly | Newport | Huntington | San Diego

Copyright © by Irvine Bookeeping, Inc.