Category: Bookkeeping

Our professionals are actively involved in providing efficient services to businesses from any industry across India. However, with the advancement of technology, people now have access to bookkeeping services online, meaning a business can hire a bookkeeper without any geographical boundary. You no longer have to think before hiring a bookkeeper from a different state…

Clothing, being a consumable and not a long-term asset, is not subject to depreciation. Identifying and correctly classifying the assets are crucial for a company to continue their day-to-day business operations. Types of assets include current, non-current, tangible or physical, and intangible assets. Assets with a physical presence are tangible assets, and those without a…

The expense accounts and withdrawal account will now also be zero. The accounts that need to start with a clean or $0 balance going into the next accounting period are revenue, income, and any dividends from January 2019. To determine the income (profit or loss) from the month of January, the store needs to close…

Applied overhead is the amount of overhead cost that has been assigned to a cost object. The amount assigned could be based on an estimate, rather than the actual cost incurred. This differs from actual overhead, which is derived from the actual costs incurred during a reporting period. Since applied overhead may include estimated costs,…

It also manages employee and contractor paperwork like W-2 and 1099 forms. Even the most powerful accounting software solution won’t be as effective if your bookkeeping habits aren’t up to snuff. We ranked each accounting software based on its affordability, considering the number of users included in each plan and the costs to add an…