article thumbnail

Bookkeeping and Accounting Terms: Relevant and Reliable Information

IgniteSpot

(..)

article thumbnail

How to Make Sense of Your Small Business Financial Reports

MazumaBusinessAccounting

Even though we’re accountants, we get that financial reports aren’t at the top of every small business owner’s to do list. But whether you keep your own books or employ the services of a bookkeeper or accountant, understanding the numbers can help your small business just as much as it could help a large corporation.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

ARE ALL ACCOUNTING SERVICES THE SAME?

Basis 365

Basis 365 was created to deliver a unique, outsourced accounting experience to small businesses by providing a virtual accounting department using cloud-based accounting applications. The bookkeeper-only option will be part of the bottleneck of the business's growth. WHO CAN ADVISE YOUR BUSINESS?

article thumbnail

What Are Costs of Goods Sold?

MazumaBusinessAccounting

We often get asked to explain the ins and outs of financial reports and have found that providing our favorite clients with a working knowledge of accounting terms is helpful. You may have even heard your bookkeeper or accountant refer to COGS as the cost of sales or services. What Are Cost of Goods Sold (COGS)?

article thumbnail

ChatGPT Isn’t Terminator for Accountants…Yet

Going Concern

TurboTax and QuickBooks are full of rudimentary AI features and already have reduced the need for some bookkeepers and tax preparers. The products can sort accounts, predict the other side of a journal entry, and populate a tax form with high accuracy. It confuses like terms, particularly technical accounting terms.

Account 113
article thumbnail

Best business banks of 2023

xendoo

You can share view-only access to your bank statements with bookkeepers, accountants, and other trusted financial partners. For example, you can connect bookkeeping, payments, payroll, and more to your Mercury business banking account. It has an API, so businesses can integrate other financial tools and services they use.

article thumbnail

What Is Deferred Revenue? Journal Entry and Examples

xendoo

You need to understand how to recognize your revenue and record it on the profit and loss statement to do accounting properly. We’ll take a closer look at deferred revenue and what you need to know for your bookkeeping and accounting. . Deferred revenue applies to companies that use accrual basis accounting.