It’s about taking public transport to meetings rather than taxis and reducing costs where you can. You need to keep a constant eye on the situation and take steps to prevent debt from snowballing out of control. Debt is undoubtedly a useful tool when starting and growing your small business, and in reality, the vast […]
Employers need to file wages paid to employees, taxes withheld, Social Security and Medicare deductions and employer’s contributions to Social Security and Medicare. Employees must be sent a Form W-2 by January 31 of the year following their paid wages. This form lists the employer’s information, the employee’s information and tallies total earnings, taxes and […]
You can still track financial statements, types of audit reports you can issue besides unqualified taxes, payroll, customers, and vendors, but the amount of report templates is much more limited. And just like QuickBooks, payroll insights are only available with a paid add-on. Professional, customizable invoices that are quick and easy to create. Pricing Important […]
Yeah, you’ll pay quite a bit more, but it’ll likely be worth it to help you scale efficiently. So, while Quickbooks Online doesn’t have too many AI features as I how is direct cost margin calculated write this, it looks like advanced capabilities are on the horizon. QuickBooks may be occasionally confusing, but it does […]
For non-exempt employees, an accurate calculation of the Regular Rate of Pay is crucial to ensure appropriate overtime compensation. Historically, the FLSA was introduced in response to the exploitative labor practices prevalent in industrial America. At that time, workers often faced long hours without corresponding increases in wages or adequate compensation for overtime. This historic […]
Conversely, the contractor bills the client per line item, with each line item identifying separate tasks or scopes of work. As it turns out, this makes all the difference in how a construction company does business. As there must be something to it, let’s examine each principle closely — and then get into the 3 […]
These platforms provide a comprehensive suite of tools that support project planning, execution, and financial management, catering specifically to the needs of the construction industry. While G&A costs are not directly tied to specific https://azbigmedia.com/real-estate/commercial-real-estate/construction/how-to-leverage-construction-bookkeeping-to-streamline-financial-control/ jobs, they must still be accounted for within the overall financial management of the business. These costs are typically spread […]
It’s the total money generated from these activities before deducting any expenses. Every transaction affects at least two accounts – one gets debited and another credited. Double-entry bookkeeping is a fundamental requirement for recording financial transactions under GAAP (Generally Accepted Accounting Principles), so you can’t record your transactions differently. To help illustrate the types of […]
It’s safe to assume larger companies will typically have more transactions and accompanying GL accounts than smaller ones. Thus, a five-digit numbering system – rather than three or four-digits – gives a large company more room to break out detailed accounts. These could include accounts like COGS, depreciation on fixed assets, sales returns, common stock, […]
The company issuing the preferred stock does not receive a tax advantage, however. Institutional investors and large firms may be enticed to the investment due to its tax advantages. Some preferred stock are convertible, meaning they can be exchanged for a given number of common shares under certain circumstances. Part 2: Your Current Nest Egg […]