They promise consistency and accuracy of invoices while adding structure to your billing journey. Old-school timekeeping methods, such as maintaining timesheets or spreadsheets, often lead to billing errors and inconsistencies due to their extensive nature. Tracking billable hours through a dedicated app is a more sensible solution. A 2023 time tracking study suggests that companies […]
Category Archives: Bookkeeping
Accruals make sure that the financial statements you’re preparing now take those future payments and expenses into account. The ledger is a large, numbered list showing all your company’s transactions and how they affect each of your business’s individual accounts. Bookkeeping focuses on recording and organizing financial data, including tasks, such as invoicing, billing, payroll […]
If a company considers its stock to be undervalued, it has the option to institute a repurchase program. While outstanding shares are a determinant of a stock’s liquidity, the latter is largely dependent on its share float. A company may have 100 million shares outstanding, but if 95 million of these shares are held by […]
This can lead to a feeling of losing control over your data and processes. It may also become harder to maintain quality because of communication gaps, time zone differences, or reduced transparency. The best company for outsourcing accounting depends on your specific needs. Look for providers with a strong reputation, industry experience, robust security measures, […]
An invoice is a formal document that itemizes and records a transaction between a vendor and a buyer. Businesses use invoices to ensure they receive timely payments in full. It’s not recommended to simply number invoices ‘1’, ‘2’, ‘3’, etc. as this can be confusing when invoice numbers reach double or triple figures. New businesses […]
This course will show you how to calculate your retirement number accurately the very first time – with confidence – using little-known tricks and tips that make the process easy. As a final note, many of the features in my compound interest calculator have come as a result of user feedback. So, if you have […]
If you’ve promised to pay someone a sum of money in the future and haven’t paid them yet, that’s a liability. Suppose a company receives tax preparation services from its external auditor, to whom it must pay $1 million within the next 60 days. The company’s accountants record a $1 million debit entry to the […]