Bookkeeping

After you’ve created your account, you’ll be taken to the Zapier dashboard. This is where you’ll create and manage your workflows, which Zapier calls “Zaps”. The interface is clean and user-friendly, with a menu on the left side of the screen that allows you to navigate between different sections of the dashboard. The Dropbox integration […]

During tax time, you can easily pull reports to identify business expenses, which can ease the burden of filing. That said, they’re not necessary to get started or even make decent money. As long as you learn the basics of bookkeeping and put in some leg work, you can find clients happy to pay you […]

The set of 3-financial statements is the backbone of accounting, as discussed in our Accounting Fundamentals Course. A general ledger summarizes all the transactions entered through the double-entry bookkeeping method. Under this method, each transaction affects at least two accounts; one account is debited, while another is credited. Once your GL has been created, diligently fill […]

The cost of sales line item on a company’s income statement allows investors to have a first look at the profitability of the production process. The cost of sales (or sometimes cost of good sold) is deducted from a company’s revenue to arrive at the company’s gross profit. Retailers and service-oriented businesses like lawyers, consultants, […]

These articles and related content is not a substitute for the guidance of a lawyer (and especially for questions related to GDPR), tax, or compliance professional. When in doubt, please consult your lawyer tax, or compliance professional for counsel. Sage makes no representations or warranties of any kind, express or implied, about the completeness or […]

A balance sheet is an overview of a company’s finances, including assets, liabilities, and equity. One potential downside of the percentage of completion method is that businesses may incidentally underpay or overpay for taxes depending on how accurately they estimate costs. Job costing is a form of project-based accounting that helps construction companies keep track […]

The bank will debit your business account only when they’ve paid these issued checks, meaning there is a time delay between the issuing of checks and their presentation to the bank. These time delays are responsible for the differences that arise in your cash book balance and your passbook balance. Nowadays, all deposits and withdrawals […]

Kirk Newsholme’s expertise has helped us to steer clients safely through construction bookkeeping the myriad of unwelcome and costly pitfalls for the unwary. Precision accounting for residential or commercial land development companies, weekly comprehensive financial reports via email, and monthly Zoom® financial reports review meetings with your team. Complying with complex tax regulations, whilst keeping […]

Operating under a contract, contractors or general contractors are directly hired by a company or person to deliver work or services is called a contractor. Their responsibilities include planning, executing, supervising, and inspecting a construction project within a certain timeframe. Typically, contractors bring their own crew to complete a certain project or hire subcontractors for […]

The cash flow statement is divided into operating, investing, and financing activities, linking cash flow with balance sheet changes and net income. Begin by defining the assumptions and drivers that will influence the model. These include growth rates, cost structures, working capital requirements, tax rates, and other factors impacting each financial statement. Financial forecast: Process […]