Category: Bookkeeping

Bank Connections

For enhanced safety and security, your login credentials are never stored on Stessa’s servers. Instead, Yodlee and Plaid make the secure connection on your behalf and then deliver ongoing data feeds for as long as your credentials remain valid. It starts with generating payment files (for instance ISO XML files for SEPA payments). Companies frequently… Continue reading Bank Connections

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What is the Income Statement Under Absorption Costing? Guidance

Indirect costs are those costs that cannot be directly traced to a specific product or service. These costs are also known as overhead expenses and include things like utilities, rent, and insurance. Indirect costs are typically allocated to products or services based on some measure of activity, such as the number of units produced or… Continue reading What is the Income Statement Under Absorption Costing? Guidance

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6 Steps to Automate Your Accounting Process

When automation is implemented, it can create thousands of entries in seconds, and machine learning algorithms can systematically identify anomalies in datasets and correct them. With these technologies, powered by AI and machine learning, businesses will be in a place where they don’t need to fiddle with expenses and revenues through manual data entry. In… Continue reading 6 Steps to Automate Your Accounting Process

Difference Between Taxable Income and Adjusted Gross Income

For companies, it is the revenues that are left after all expenses have been deducted. This is different than gross income which only includes COGS and omits all other types of expenses. There’s also gross profit margin, which is more correctly defined as a percentage and is used as a profitability metric. The gross income… Continue reading Difference Between Taxable Income and Adjusted Gross Income

The Best Bookkeepers in Austin for 2022 Bench Accounting

Content Client Portal Log In Access to Leading Accounting Technologies Bookkeeping Services Austin Badger CPA Austin Clients: Austin’s Best Bookkeeping Services #1 QuickBooks Reseller We’re here to take bookkeeping, tax planning, and CFO responsibilities off your plate. As a 501(c)3 nonprofit organization, we solicit grants and donations to support underprivileged children; therefore our accounting https://www.bookstime.com/articles/bookkeeping-austin… Continue reading The Best Bookkeepers in Austin for 2022 Bench Accounting

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Best Bookkeepers in Miami Florida Bookkeeping Services

The goal of bookkeeping is to generate accurate financial reports that will be used for business activities like preparing tax returns, applying for loans, and attracting new investors. This is why it’s a fundamental component of running a successful business. BooXkeeping is a nationwide provider of affordable outsourced bookkeeping services to small and medium-sized businesses.… Continue reading Best Bookkeepers in Miami Florida Bookkeeping Services

Accrued Wages Definition + Journal Entry Examples

Content How to Complete the Financial Statement for a Wage Garnishment Small business owner’s guide to accrued payroll What is accrued payroll? Accrued Wages Definition in Accounting Example of a Payroll Journal Entry What is Accrued Payroll in Manufacturing Accounting? Let’s run through the journal entries related to compensation and accrued payroll. When an employee… Continue reading Accrued Wages Definition + Journal Entry Examples

Nonprofit, Not-for Profit & For-Profit Organizations Explained

Content Submit Required Attachments Types of 501(c)( Organizations LAW LIBRARIAN What public benefit does my organization provide? Examples of nonprofit Is a Charitable Foundation the Same as a Nonprofit Corporation? 100–203 applicable with respect to activities after Dec. 22, 1987, see section 10711(c) of Pub. 100–203, set out as a note under section 170 of… Continue reading Nonprofit, Not-for Profit & For-Profit Organizations Explained