Bookkeeping

Bookkeeping
Common payroll questions and answers

Ask potential providers as many questions as necessary until you find the right one for your business. A supervisor who isn’t involved in processing payroll should distribute checks. If they paid into an HSA, FSA, or retirement account, they'll need additional paperwork. What’s the best way to run payroll? Ensure they are correctly entered, not […]

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Bookkeeping
QuickBooks Community: Best Places to Find User Support Online

If you don’t see an option to “Explore QuickBooks” in your QuickBooks Self-Employed account, you can manually import your QuickBooks Self-Employed data into QuickBooks Online. We believe everyone should be able to make financial decisions with confidence. If discrepancies persist, carefully review bank statements to verify the accuracy of recorded transactions and identify any missing […]

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Bookkeeping
What Is a Journal in Accounting, Investing, and Trading?

The sales journal typically is used to record inventory or merchandise sales on credit. On the other hand, the ledger, also known as the principal book, is a set of accounts in which the financial information in the journals is summarized and posted. It all depends on what you and your company find most convenient […]

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Bookkeeping
Journal Entries: Tutorial

A business journal is used to record business transactions as they occur. You will have no trouble as long as you know how to use debits and credits and what accounts to record. Companies often use the purchases journal starting a bookkeeping business to record all inventory and equipment purchases as well. Businesses can use […]

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Bookkeeping
Declining Balance Depreciation Method Explanation And Example

150% declining balance depreciation is calculated in the same manner as is double-declining-balance depreciation, except that the rate is 150% of the straight-line rate. When applying the double-declining balance method, the asset's residual value is not initially subtracted from the asset's acquisition cost to arrive at a depreciable cost. Financial accounting applications of declining balance […]

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Bookkeeping
How to Calculate Declining Balance Depreciation

If you reduce the basis of your property because of a casualty, you cannot continue to use the percentage tables. For the year of the adjustment and the remaining recovery period, you must figure the depreciation yourself using the property's adjusted basis at the end of the year. However, it does not reflect any reduction […]

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Bookkeeping
6 Best Payroll Outsourcing Companies for 2024

TriNet has a 3.8 and 4.0 star review on Capterra and G2 respectively, with 649 user reviews total. Users say the software is extremely easy to use and has comprehensive features. They also say TriNet’s customer support is responsive (responding within just minutes of inquiry submission) and knowledgeable. However, they do not like that the […]

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Bookkeeping
Payroll Outsourcing In 2024: The Ultimate Guide

Their experience and expertise are invaluable, and they will be able to spot and avoid potential problems before they happen. Before handing over your payroll data, take the time to review it for accuracy and clarity, and clear up any discrepancies or outdated information. To make your life significantly easier, you’ll want to use a […]

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