Category: Bookkeeping

Full-service setup, payroll, and tax filing online, plus, additional HR options. In fact, it’s incredibly easy to start with an online payroll service and add on services such as time and attendance, HR, insurance, retirement and more — as you need them. The payroll software you use bookkeeping and payroll services should integrate with QuickBooks or…

An account might simply be named “insurance offset.” What does that mean? The bookkeeper would be able to tell the difference by the account number. An asset would have the prefix of 1 and an expense would have a prefix of 5. Organise account names into one of the four account category types Examples of…

Nonprofits should adhere to Generally Accepted Accounting Principles (GAAP) or the Financial Reporting Standards (FRS) specific to their country. These standards provide guidelines for financial reporting, including the presentation of financial statements and the recognition of revenue and expenses. Many nonprofits use fund accounting to track and report financial activities separately for different funds or…

Essentially, assets equals liabilities plus equity tells you how much money a business has avilable after all its debts have been paid off. This useful equation can be used to calculate financial ratios such as return on investment (ROI), debt-to-equity ratio, working capital ratio, and more. It can also be used to analyze how well…

Debt to equity ratio also affects how much shareholders earn as part of profit. With low borrowing costs, a high debt to equity ratio can lead to increased dividends, since the company is generating more profits without any increase in shareholder investment. If a bank is deciding to give this company a loan, it will…

Explicit costs include wages, leases, utilities, and the cost of raw materials while implicit costs include any opportunity costs, such as the loss of interest on an investment. Like economic profit, this figure also accounts for explicit and implicit costs. When a company makes a normal profit, its costs are equal to its revenue, resulting…

Alcohol withdrawal symptoms can be safely and effectively managed within an inpatient detox environment, such as a detox facility or addiction treatment center. There are several common signs of alcohol withdrawal that can disrupt a person’s sleep and cause physical discomfort after their last drink during the detox process. The central nervous system (CNS) helps…

Jami Gong is a Chartered Professional Account and Financial System Consultant. She holds a Masters Degree in Professional Accounting from the University of New South Wales. Her areas of expertise include accounting system and enterprise resource planning implementations, as well as accounting business process improvement and workflow design. Jami has collaborated with clients large and…

By outsourcing, your business can reap numerous advantages such as tapping into a wealth of expert knowledge, streamlining processes for better efficiency, and cutting down on overhead expenses. This comprehensive guide is designed to help you navigate the complexities of bookkeeping in the construction industry. At the conclusion of this guide, you will be prepared…

If your customers order room service or take stocked items from the minibar, you can add these extras to the final invoice at the end of the stay. Any damages that occurred or stolen items can also be added as additional charges for the customer. M3 is a company of over 250 professionals dedicated to…