Bookkeeping

Over the past five years, Anywhere has won a number of awards for quality and design, both nationally and locally. Its satisfied customer base continues to expand and spread the word. After seeing an influx of competition in response to the recent housing crisis, Bob decided that the best way to adapt to the market was to take […]

FreshBooks offers unlimited time-tracking in its lowest-tier Lite plan, whereas Xero users would have to opt into the highest-tier Established plan for that feature. 17 foundation tips every beginner needs to know Xero lets new customers sign up for a 30-day free trial to test out its features. You can add Gusto payroll to any

Then, you can connect your bank accounts to Xero and decide if you’ll accept electronic payments for online invoices. Xero, FreshBooks and QuickBooks all offer 30-day free trials and extensive features for online support, including a live chat, email support and a knowledge base. All a small business guide to cost recovery three of these

Topic 606 is an accounting standard update (ASU) that requires public companies to disclose information related to their revenue recognition practices. This method allows contractors to accurately report their financial position at any given point in time since all transactions are taken into account on an accrual basis. Here’s what this looks like in practice

However, bookkeeping for construction companies can be complex and challenging. It requires an understanding of unique accounting principles and regulations specific to the industry. Construction accounting software can save you time and help keep you organized when managing your building projects. Construction software becomes a one-stop platform for everything from prices to contracts and compliance.

Apart from giving you insight into where your money is going, receipts also serve as proof of your business expenses in case you ever get audited. Here are ten tips that can help to simplify and improve the way you handle construction bookkeeping. Project costs vary according to the weather and season in which work

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This allows the readers of the financial statements to make meaningful comparisons between years. By requiring entities to use consistent accounting methods and principles over time, the consistency principle helps to ensure that financial statements are useful and relevant to all users. When entities use consistent accounting methods and principles, users can more easily identify

Thus, if recording an immaterial event would cost the company a material amount of money, it should be forgone. This straightforward example allows a key point about double entry to be made. While both parties will record the transaction, that is not what is meant by double entry. Why You Can Trust Finance Strategists When financial statements