Bookkeeping

For the least important expenses, see where you can slash or eliminate costs. Let’s say you have $1,000 in rent, $250 for utilities, $100 for insurance, $30 for subscription fees, and $50 for office supplies during the month. Your total G&A costs for the month would be $1,430 ($1,000 + $250 + $100 + $30 […]

Thus, the difference is only reconciled when the petty cash box must be replenished. A petty cash fund will undergo periodic reconciliations, with transactions also recorded on the financial statements. In larger corporations, each department might have its own petty cash fund. If it is determined that an existing petty cash fund is no longer

You may need to contact your secretary of state or department of revenue for more information on what paperwork you may need to complete to legally establish your bookkeeping business. If you’re interested in being a freelance virtual bookkeeper, what is the difference between vertical analysis and horizontal analysis you can sign up for freelance

Payroll expenses refer to the expenses employers incur to hire employees and keep them on staff. However, if you use a manual accounting system, you will need to create journal entries. Throughout our explanation, bonuses paid to employees and sales commissions paid to employees will be considered to be part of salaries or wages. Some