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Please keep in mind that this calculator is not a one-size-fits-all solution. You’ll want to consult an accountant or invest in full-service payroll software to feel completely confident that you’re paying employees correctly. With QuickBooks Line of Credit, small businesses can tap into funding when and how they need, depending on their specific cash flow [...]

For most practices, there is no how to do a journal entry for purchases on a notes payable chron com reason not to benefit from the cost savings of outsourcing income tax preparation offshore. Unison Globus offers professional income tax return preparation in the USA, guiding you through the process to ensure all deductions and [...]

On your income statement, deduct the whole cost of goods sold from the total income. The gross margin, or the amount gained from the sale of your goods and services, will be determined by this calculation. After that, you'll need to figure out how much profit your company made throughout the reporting period. If you've [...]

The asset turnover ratio measures the value of a company's sales or revenues relative to the value of its assets. The asset turnover ratio indicates the efficiency with which a company is using its assets to generate revenue. Sometimes investors also want to see how companies use more specific assets like fixed assets and current assets. [...]

To ensure retainage works for you, it is vital to negotiate the terms and ensure that the contract is transparent and leaves no room for interpretation, especially when it comes to the definition of the project’s completion. While retainage construction has its advantages, it can also introduce potential risks. Delayed payments can lead to cash [...]

If you earn income that isn't subject to withholding taxes, you're typically required to make estimated tax payments to the IRS. Married filing separate taxpayers may only claim a maximum rental deduction of $1,500 each, unless a statement from the other spouse is provided, allowing 1 spouse to take more than the $1,500 deduction. Filing status [...]

As a supplement to the general ledger, your chart of accounts lists the account names and purposes of all your sub-ledgers. While the above accounts appear in every general ledger, other accounts may be used to track special categories, perform useful calculations and summarize groups of accounts. For example, cash and account receivables are part [...]

The journal entry to record the purchase of a fixed asset (assuming that a note payable is used for financing and not a short-term account payable) is shown here. If you decide to use units of production depreciation, keep in mind that your tax preparer will still make a separate depreciation calculation for tax purposes. [...]

If you have at least 2 months of data in QuickBooks, there’s a flat fee for cleanup and setup for the first month of service. After the first month, pricing for QuickBooks Live Bookkeeping is based on your company’s average expenses in QuickBooks. Every three months, QuickBooks Live Bookkeeping automatically adjusts to the needs of [...]