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As a small business owner, it’s understandable that you’re going to miss a few months of bookkeeping. Your books must be missing you....

After a cheerful and enthusiastic project planning, many contractors are left wondering what happened to the expected enormous profit and...

To be qualified for deduction, business meal and entertainment expenses must be directly associated with the active conduct of a trade or...

“Audit-proofing” your return means documenting deductions so that you can prove them if you’re audited. Today’s historically low audit...

Tax deadline to file and pay federal income taxes deadline is now behind us. However, some taxpayers still facing certain problems after...

You would like to be paid on time? You need to send out invoices on time. Especially, people who work in the Construction Industry. As a...

Accounting and financial management is a challenging task in all industries. TABLE OF CONTENT Cash Basic Job Costing Percentage of...

On the last article, we talked about the definition of Account Receivable and its importance to business. Subsequently, Accounts...

Most businesses sell to their customer on credit . That implies, they sell and deliver goods or services quickly, send an invoice, then...

A Balance Sheet gives you a financial snapshot of the company as of the specific date. It calculates how much the company is worth (its equity) by subtracting all the money it owes (liabilities) from the money it owns (assets), specifically focusing on total assets. The balance sheet complies with the accounting equation: ASSET = EQUITY + LIABILITY Liability is an obligation toward another party to pay money, deliver goods and render service. In this blog, we discuss 2 commo

Have you ever wondered why you should find a professional bookkeeper? As US Small Business Administration states, “half of all new small...

At the end of every month, it is time for you to reconcile your trust bank account. This lets you confirm that your transaction records...