by root | Nov 1, 2024 | Bookkeeping
It is always advisable to have persons with an accounting background perform or supervise these entries to ensure the accuracy and reliability of the entity’s accounting. Let’s say that a small business finishes the year with $50,000 dollars in assets, whether that be...
by root | Oct 21, 2024 | Bookkeeping
There could be multiple reasons why you may need to void a check. For example, a company might need to apply for an unsecured business loan or set up direct deposits for its employees. You might need to know how to send a voided check to start a direct deposit with...
by root | Nov 28, 2023 | Bookkeeping
This will result in more exact control over financial activities, which will help in developing strategic decisions based on reliable and timely information. These two types of reports work together when reconciling and preparing financials. It breaks down assets,...
by root | Apr 17, 2023 | Bookkeeping
Pro rata is also used to determine how much of a distribution from a qualified retirement account such as an IRA, SEP, or 401(k) is taxable when the account contains before and after-tax dollars. An account holder might have a 401(k) funded with 20% pre-tax dollars...
by root | Feb 8, 2023 | Bookkeeping
In the face of a completely disrupted business landscape, changing employee expectations, and growing scrutiny on wage fairness, Compensation and Benefits strategies are under unprecedented pressure. To help you navigate this unfolding story, we’ve put together some...
by root | Dec 16, 2021 | Bookkeeping
These costs need to be managed to improve the overall financial health of a business. One of the key strategies in managing costs is to reduce variable costs. These are costs that change in proportion to production levels or business activities, such as raw materials...
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