With such support, you’ll have not only accurate records but also more time 1099 misc independent contractors and self to focus on your core business operations. Collaborating with a virtual bookkeeping assistant is a strategic approach to enhance cash flow. They efficiently handle accounts payable and receivable, manage invoicing, and ensure timely payments from clients. […]
Category: Bookkeeping
What Is the Quick Ratio? Definition and Formula
Hence, understanding a company’s quick ratio, alongside other financial metrics, aids in developing a comprehensive view of a business’ financial health and provides a robust foundation for decision-making. However, it is essential to note that while the quick ratio can be a useful tool for getting a snapshot of a company’s financial health, it doesn’t […]
Quickbooks vs Wave: Which Software is Best for You?
However, if you’re just after a simple bookkeeping tool to manage your finances, Wave will do more than meet your needs. This makes Wave an ideal tool for managing the finances of small businesses and side hustles. Unlike other tiered accounting software options, you can manage your money in one place with Wave and stop […]
Cloud Based Accounting Software
Often requires expensive software updates and license fees every time a small business grows. Requires installation capitalized cost definition on your desktop and can only be accessed on computers via a server on your business premises. QuickBooks securely stores your data and keeps it up-to-date across all your devices. Another notable difference is QuickBooks Online […]
Returns Inwards or Sales Returns Definition & Journal Entries
When merchandise is returned, customers usually ask for a cash refund. However, a customer may find that low-quality (or slightly damaged) goods can be resold at a lower price or they can be used elsewhere. These accounts normally have credit balances that are increased with a credit entry. How to Record a Sales Revenue Journal […]