Category: Bookkeeping

Professional construction bookkeeping services can offer expert guidance, ensuring that your finances are in order, taxes are managed efficiently, and business growth is well-supported. Maintaining a detailed record of all expenses is essential for successful financial management. In construction accounting, every expense, whether large or small, must be recorded accurately to provide a clear picture…

One of the most important steps in construction accounting is keeping personal and business finances separate. Opening a dedicated business account helps avoid confusion, makes tax reporting easier, and ensures that you have accurate financial records for your business. This separation also simplifies the tracking of income and expenses, making construction bookkeeping more organized and…

LIFO is not practiced much outside of the United States because it can create an artificial tax advantage that’s generally frowned upon in other countries. By valuing products based on the most recent cost, companies anything that can go wrong will go wrong can reduce their incomes on paper since there’s always a stream of…

Job order costing is a costing method which is used to determine the cost of manufacturing each product. This costing method is usually adopted when the manufacturer produces a variety of products which are different from one another and needs to calculate the cost for doing an individual job. Job costing includes the direct labor, direct materials, and manufacturing overhead for that particular job.…

The effect of the discount rate on the future value of an annuity is the opposite of how it works with the present value. With future value, the value goes up as the discount rate (interest rate) goes up. The articles and research support materials available on this site are educational and are not intended…

The present value of annuity calculator is a handy tool that helps you to find the value of a series of equal future cash flows over a given time. In other words, with this annuity calculator, you can compute the present value of a series of periodic payments to be received at some point in…

Where Wave falls behind, however, is its customer support. There’s no live support unless you pay for it so you’ll have to dig for the answers to your questions in the help center or cross your fingers that the automated chatbot will help you out. Find a platform that makes accounting as easy as possible…

Unlike Wave, all of FreshBooks’ plans have a strict user limit of one, except Select, which ups this limit to two users. FreshBooks is a cloud based software, which means you can use it from anywhere. withholding tax percentage You can download iOS and Android apps that let you painlessly invoice your clients and track…

First Internet Bank has two business checking accounts, a regular business savings account, a business money market account and business CDs with terms ranging from three months to five years. This is where you can deposit and withdraw money, pay bills and make purchases. Most business checking accounts come with a debit card and possibly…

EverBank is best for businesses that need interest-bearing accounts they can open and manage digitally. Bank of America is the best bank for business banking resources because it offers a number of tools and services, integrations and features that would be useful to many business owners. It’s also a good option for in-person banking, with…