Accounting

QuickBooks Online is a popular cloud-based accounting software that helps small businesses manage their finances effectively. In this comprehensive lesson, we will guide you through setting up your QuickBooks Online account, managing transactions, generating financial reports, and more. Setting Up Your QuickBooks Online Account Visit the QuickBooks Online website and sign up for an account.… Continue reading How to Use QuickBooks Online: A Comprehensive Lesson

This lesson provides an in-depth understanding of Cost of Goods Sold (COGS), its purpose, and how to record and manage it effectively. By the end of this lesson, you will learn the importance of COGS in managing a company’s financial statements, practical knowledge of recording and managing COGS in a ledger, and how COGS affects… Continue reading Understanding Cost of Goods Sold: A Comprehensive Lesson

Revenue recognition is a critical aspect of financial reporting for subscription businesses, particularly for those operating under the Software as a Service (SaaS) model. In this post, we will discuss the 5-step revenue recognition process, provide real-world examples, and address key complications and future developments in revenue recognition. What is Revenue Recognition? Revenue recognition is… Continue reading The 5-Step Revenue Recognition Process for Subscription Businesses

Starting a new business can be an exciting and rewarding venture. However, it can also be overwhelming, especially when it comes to managing finances and accounting. Whether you have a background in finance or not, it is essential to set up a reliable accounting system that can help you keep track of your business’s financial… Continue reading Accounting Practices for Startups: How to Get Your Finances in Order

Karbon vs Canopy [2024] Many accounting firms today are turning to automation to make accounting easier and more efficient. This integration of automation has gained popularity among small and medium-sized businesses aiming to modernize their operations and streamline their accounting tasks. By integrating automation, businesses can automate repetitive tasks and manual data entry that would… Continue reading Karbon vs Canopy [2024]

In today’s digital age, e-commerce companies face unique challenges when it comes to accounting and financial management. Accurate and efficient financial processes are crucial for the success and growth of any e-commerce business. In this post, we discuss accounting best practices that can help e-commerce companies streamline their financial operations and make data-driven decisions. Choose… Continue reading Top Accounting Strategies for E-commerce Companies Unveiled

Businesses can operate more effectively by employing workflow software, which makes operations more efficient. This type of software keeps all tasks, projects, and team members organized so that everything and everyone stays on track. It additionally fosters teamwork among members and saves time. Which software products are available on the market that can do this,… Continue reading mesha vs Karbon [2024]

The global bookkeeping services market is expected to grow at a compound annual growth rate (CAGR) of 9.8% from 2024 to 2030. Whether you’re an independent freelance bookkeeper or part of a larger firm, one key factor will determine your ability to capitalize on this growth: your rates. Setting appropriate rates for your bookkeeping services… Continue reading How Much Should You Charge for Bookkeeping Services?

As an accounting firm, your expertise lies in high-level financial analysis, tax planning, and advisory services – not tedious bookkeeping tasks. Spending countless hours on data entry, bank reconciliations, and accounts receivable/payable prevents you from focusing on your core strengths. Hiring a dedicated bookkeeper allows you to offload these time-consuming administrative duties, freeing your team… Continue reading When Should Your Accounting Firm Hire a Bookkeeper?

As a chiropractor, your primary focus is on providing quality care to your patients and helping them achieve optimal spinal health. However, running a successful chiropractic practice requires more than just clinical expertise – it also demands a solid understanding of financial management and bookkeeping. Proper bookkeeping not only helps you stay compliant with tax… Continue reading Mastering Bookkeeping for Chiropractors: What You Need to Know[2024]