Category Archives: Bookkeeping

Stocks are also classified by market capitalization into large-, mid-, and small-cap categories. Large-cap stocks are more frequently traded and usually represent well-established, stable companies. In contrast, small-cap stocks often belong to newer, growth-oriented firms and tend to be more volatile. At Taxfyle, we connect individuals and small businesses with licensed, experienced CPAs or EAs […]

Unlikeprevious trial balances, the retained earnings figure is included,which was obtained through the closing process. We saw that there was the dividends entry and then the entries related to net income, right? And we split that up into the revenue, the expenses, and then the closing of income summary, right? So there’s those two crucial […]

Typically, the greater the net working capital figure is, the business is in a better position to cover its short-term debts. Changes in working capital are presented in the company’s cash flow statement. These changes can signal the management about improvements that should be made, such as product streamlining or negotiating new terms with suppliers. […]

If your monthly average is $50,001 or more, the monthly price for QuickBooks Live Expert Full-Service Bookkeeping is $700. If your monthly average is $10,001-50,000, the monthly price for QuickBooks Live Expert Full-Service Bookkeeping is $500. If your monthly average is $0-10,000 per month, the monthly price for QuickBooks Live Expert Full-Service Bookkeeping is $300. […]

In most cases, the goal is to get them paid by the end of the current period to avoid additional late charges or being dropped by the insurance company altogether. The operating cost is deducted how to make a healthy homemade protein shake from revenue to arrive at operating income and is reflected on a […]

Small business owners are typically experts in their field or industry but might need more financial expertise to keep their company’s books in order. They don’t just crunch numbers; they make those numbers understandable and usable for the business owner. If you’re just starting out with your small business, you’ll probably be satisfied with the […]

Under the indirect method, the figures required for the calculation are obtained from information in the company’s profit and loss account and balance sheet. Using the indirect method, calculate net cash flow from operating activities (CFO) from the following information. Examples include cash receipts from the sale of goods and services, cash receipts from interest […]

Small-business taxes vary between industries, states, and business types, so to get the best advice on what taxes your business needs to pay, consult with your accountant. For the most part, though, you’ll probably end up paying income taxes, sales taxes, and payroll taxes. Most accounting software automates entering information from the documents above. For […]

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The accounting concept behind depreciation is that an asset produces revenue over an estimated number of years; therefore, the cost of the asset should be deducted over those same estimated years. 1- You can’t use double declining depreciation the full length of an asset’s useful life. Since it always charges a percentage on the base […]