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Find out how the Chart of Accounts is used to build financial statements. Learn about how to navigate QuickBooks Online, understand the difference bet...

Location plays an important factor in pricing, although less-so since the pandemic and the rise of remote work and cloud accounting. So to bill correc...

If the partnership files Schedule M-3, the amount on Analysis of Net Income (Loss) per Return, line 1, must equal the amount in column (d) of Schedule...

Working with a remote bookkeeping service will still provide you with all the value you could get from an in-office bookkeeper but at a fraction of th...

For certain transactions, a customer may receive a small discount for paying the amount due to the company early. With the accrual accounting, you rec...

Accurate financial records are the backbone of any successful business. In modern accounting practices, posting plays a crucial role in ensuring these...

A short-term note is classified as a current liability because it is wholly honored within a company’s operating period. This payable account would ...

For instance, a ratio of 1 means that the net sales of a company equals the average total assets for the year. In other words, the company is generati...

Trading involves buying and selling assets (such as stocks) for short-term gains. Traders primarily focus on share prices as they make their decisions...

In QuickBooks, you have the option to make an adjusting entry if the difference isn’t zero when you are finished reconciling. However, adjusting ent...

Many applicants have reported that IRS lost their passports or other valuable and the importance of other comprehensive income hard-to-replace identif...

We’ve got you what is a purchase allowance covered with a breakdown of the four QuickBooks Online (QBO) plans. Learn how to know which plan is right...