Category: Bookkeeping

By implementing robust bookkeeping practices, contractors can optimize cash flow, improve financial stability, and set the foundation for long-term success. Like I mentioned before, the data validation process is one where a lot of contractors can get tripped up, especially when it comes to those “ghost” transactions. Implement a monthly reconciliation process you can lean…

Sending notifications gives your payroll team ample time to implement any desired changes to employees’ payroll withholdings. Employees are responsible for knowing how much they owe for payroll taxes and ensuring the correct amount is withheld from their paychecks virtual accountant by filling out their Form W-4 properly. Even if insufficient taxes have been withheld,…

In addition, a treasury paid-in capital account is either debited or credited depending on whether the stock was resold at a loss or a gain. This can be done to raise capital, fund acquisitions, or fulfill employee stock option plans. When shares are reissued, they are no longer considered treasury stock and are added back…

For instance, Microsoft diverted 90% of its $9.6 billion R&D budget to its cloud, in 2011. The trends appear to be growing as reports from Centaur Partners, announced towards the ending of 2015, had forecasted that SaaS revenue would spike from $13.5 billion as at 2011 to a whopping $32.8 billion in 2016. Zoho Books…