Ronika Khanna CPA,CA

JUNE 23, 2023

A bad debt, in accounting terms, refers to an amount charged to a customer that is never paid. In accounting parlance this is referred to as an Allowance for Doubtful Accounts (somewhat self explanatory) or AFDA. Periodically review your accounts receivable and specifically identify which amounts due might not be collectible.

quickbooks 52

quickbooks Account accountant accounted 52

Going Concern

MARCH 21, 2023

Was ChatGPT sent to us from the future to rescue the industry from the pipeline crisis by filling open accounting jobs with cyborgs and sentient machines? Accounting is ridiculously rules-based: assets = liabilities plus equities; debits = credits; cash in > cash out, etc. Some of it already has been. ChatGPT is Usain Bolt.

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Account accountant accounted tax return 113

Dent Moses

MAY 4, 2023

Accounting needs are often considered a necessary evil rather than a priority. Oftentimes, one of the owners or a family member is tasked with handling the dreaded accounting responsibilities. They might have worked at a bank or taken an accounting class in college. There are several options for solving the accounting puzzle.

Account 52

Account accountant accounted tax return 52

Dent Moses

APRIL 21, 2023

Accounting needs are often considered a necessary evil rather than a priority. Oftentimes, one of the owners or a family member is tasked with handling the dreaded accounting responsibilities. They might have worked at a bank or taken an accounting class in college.

Account 52

Account accountant accounted tax return 52

Inform Accounting

AUGUST 10, 2023

From small businesses with big ambitions to freelancers figuring out tax returns, Starling’s award-winning business bank account is designed to make entrepreneurial life a little easier. Apple for a Starling Bank account today! Read more of Inform's tax blogs : Struggling to pay tax – What should you do?

tax return 52

tax return Account accountant accounted 52

Reckon

JUNE 25, 2023

As the discipline relies on data processing, it’s not surprising accounting professionals have been particularly vocal about the advancement of AI (and machine learning) for many years. How did computerised automation start out in accounting software? AI starts to really take root in accounting. But is OCR true AI?

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Account accountant accounted Technology 98

xendoo

FEBRUARY 23, 2022

As tax season looms, you may be wondering whether you should have an accountant prepare your taxes. In addition to considering how much an accountant costs , you’ll also want to consider how long an accountant will take to do taxes compared to trying to do it yourself.

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Tax tax preparation tax return Account 94

xendoo

AUGUST 16, 2021

From choosing an accounting method to managing transactions to setting up payroll, bookkeeping can be an extremely confusing and time-consuming process! That’s why many business owners decide to get bookkeeping help, whether they use a form of online bookkeeping software or hire an accountant. . What Is Accounting Software?

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CPA Practice

FEBRUARY 1, 2024

CPAs and accountants are uniquely positioned to help their clients out with a variety of advisory services. The findings from the new Entrepreneurship in 2024 Report , conducted by Intuit QuickBooks in December 2023, solves for that, providing you a roadmap to help your clients. That hasn’t changed. Here are the highlights. #1:

E-commerce 64

E-commerce quickbooks tax return payroll 64

Ronika Khanna CPA,CA

SEPTEMBER 15, 2023

Since these are purchases that affect the cash flow of the business, it seems that they should be accounted for as expenses similar to office supplies or rent. Below I discuss the accounting and tax treatment of fixed assets. 2,000 Cash or Accounts Payable Cr.

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Tax Account accountant accounted 87

Going Concern

SEPTEMBER 25, 2023

It’s been a while since we’ve done an Accountants Behaving Badly megapost ( 381 days ago , actually), here’s some bad behavior you may have missed. Twice-Convicted Accountant Is Charged With Embezzling More Than $1.1 Palos Hills Accountant Indicted In $7.8M This stock photo is incredible.

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tax preparation Gambling Account accountant 104

Going Concern

OCTOBER 20, 2023

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. Early-career hires are set to account for the majority of job losses in some teams, as Deloitte retrenches following a slowdown in demand. Welsh said.

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CPA quickbooks Real Estate auditor 109

5 Minute Bookkeeping

MARCH 8, 2021

Are you taking on a big QuickBooks Online cleanup project and not sure where to get started? I want to share my tips for taking on a massive QuickBooks Online cleanup, to help you confidently take on even the toughest projects. Let’s start by defining what a cleanup is. Cleanup is really like a puzzle. Types of cleanups.

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quickbooks tax preparation bookkeeping tax return 52

5 Minute Bookkeeping

JUNE 23, 2022

Knocking out a big QuickBooks Online cleanup project requires the right preparation, tools, and strategy. Are you facing the challenge of a messy QuickBooks Online cleanup project, and want to triumph? Are you facing the challenge of a messy QuickBooks Online cleanup project, and want to triumph?

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quickbooks bookkeeping accounts payable tax return 52

xendoo

MARCH 4, 2022

Many ecommerce owners understand the importance of making sales, but do you know how to record ecommerce sales for your accounting system? No matter if you sell products online through Amazon, Shopify, BigCommerce, Walmart, or Etsy, you’ll need an accounting system to manage finances. What is accounting for ecommerce?

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Sales bookkeeping Account accountant 105

Snyder

MARCH 23, 2023

As a small business owner, making sense of the accounting basics and bookkeeping terminology might be giving you a little bit of a headache. At the same time, being able to successfully maneuver the world of accounting is crucial to the success of your business. What’s the difference between accrual and cash method of accounting?

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accrual accounting Account accountant accounted 52

Going Concern

SEPTEMBER 1, 2023

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. Check out this week’s top remote accounting candidates. Check out this week’s top remote accounting candidates. P.S. We’re off for Labor Day, hope you are too.

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Account accountant accounted audit 109

Ronika Khanna CPA,CA

JANUARY 5, 2024

The idea of using an accounting software can be a bit intimidating for some new business owners. While a spreadsheet makes sense when you have a simple business with very few transactions per year, accounting software has significantly more functionality. There are two options here – accrual or cash.

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quickbooks accounting software accounting and finance Tax 98

xendoo

JANUARY 11, 2021

For many small business owners, accounting is definitely not their area of expertise. They know they’re probably making mistakes and missing opportunities that a pro would spot right away, but they don’t know if accounting services will save more than they cost. “How much do accountants charge for year-round bookkeeping services?”

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Account accountant accounted bookkeeping 52

CPA Practice

APRIL 17, 2023

While the economy and supply chains may still have some hiccups related to the end of the pandemic, one thing is clear: The demand for the services of accounting, finance and tax professionals is growing strong. WINNER: TheTaxBook – Tax Materials Inc.

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quickbooks payroll Technology audit 130

Ronika Khanna CPA,CA

JANUARY 12, 2024

There comes a time for many small businesses or self employed workers when they decide that their current accounting system is no longer working for them. Two choices for reflecting historical data when transitioning your accounting to QBO : You have two choices for bringing in your historical data: 1.

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accounting software quickbooks tax return accounts payable 52

CPA Practice

NOVEMBER 9, 2023

Financial and tax software maker Intuit has added new updates to its professional line of products and services, including Intuit Tax Advisor , Intuit ProConnect Tax , Intuit Lacerte Tax , and Intuit ProSeries Tax , for the upcoming tax year. Coming soon in ProConnect Tax ** Prep for Taxes (New!

Real Estate 52

Real Estate tax return quickbooks Tax 52

xendoo

MARCH 16, 2022

As you try to figure out which need to prioritize in your new venture, it is crucial that you first learn how to set up accounting for a new business. While it might seem mundane, good accounting is integral to the success of any business. We will take you through the essentials of setting up your accounting for a new business.

accrual accounting 52

accrual accounting Account accountant accounted 52

Ronika Khanna CPA,CA

APRIL 5, 2024

The deadline to file tax returns is quickly approaching, resulting in various degrees anxiety for some taxpayers and accountants. The most effective starting point is to evaluate your tax situation and prepare a checklist of the documentation that you will need with respect to your specific tax situation.

Tax 52

Tax tax return Education accounting and finance 52

Snyder

OCTOBER 30, 2022

Tax filing deadlines and taxes themselves become a really big deal for e-commerce business owners, adding even more stress to their busy lives. But is there a way to escape tax filing season disturbance? The answer is ‘yes’ if you approach the upcoming 2023 tax filing deadline for the Tax Year 2022 preparation wisely.

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tax preparation E-commerce Tax income tax 98

Basis 365

MARCH 30, 2023

ARE ALL ACCOUNTING SERVICES THE SAME? COMPARING DIFFERENT ACCOUNTING PARTNERS CAN BE LIKE COMPARING APPLES AND ORANGES. ACCOUNTING SERVICES (OR OFFERINGS) ARE NOT ALL THE SAME. BREAKING DOWN THE DIFFERENT ACCOUNTING PARTNERS YOU MAY BE CONSIDERING AND WHICH ONE IS RIGHT FOR YOU. DON’T OVER- OR UNDER-HIRE.

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accrual accounting Account accountant accounted 52

Ryan Lazanis

JULY 13, 2022

In today’s post, I’m going to show you the very best accounting security tips (23 of them to be precise!) to keep your accounting firm safe and secure. Importance of why you must have accounting security for the safety of your business. Why is Accounting Security Important? Key Takeaways. Table of Contents.

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xendoo

MARCH 17, 2022

Historically, small business owners would partner with a local accounting firm, hire an in-house bookkeeper, or do the bookkeeping themselves with a calculator, pencil, and paper. . Income and expenses flow digitally from the bank account to the bookkeeping software, so every transaction can be accounted for and properly categorized.

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bookkeeping bookkeeping software quickbooks bookkeeping services 98

5 Minute Bookkeeping

APRIL 22, 2021

QuickBooks cleanup projects can easily become overwhelming and time-consuming, especially if you’re not sure where to start. What is a QuickBooks Online cleanup? The QuickBooks Online Cleanup Checklist. Accrual or Cash accounting ( method used for their internal bookkeeping and method used for tax purposes ).

bookkeeping 52

bookkeeping quickbooks tax return E-commerce 52

Ronika Khanna CPA,CA

SEPTEMBER 3, 2021

Others decided it made sense to use accounting software right at the outset of their businesses. There are situations, especially when you are planning to do your own small business accounting , where it can be significantly beneficial to upgrade your record keeping from a spreadsheet to accounting software. Digital Download.

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accounting software Finance Account accountant 52

Nancy McClelland, LLC

APRIL 5, 2024

It’s not without its quirks and issues, but overall it does a great job for a great price, and — key for the work we do — it syncs nicely with QuickBooks Online, as well as with Guideline Retirement, saving us oodles of time that we used to spend on benefit reconciliations. (In And now we’re superstars to them.

tax preparation 52

tax preparation Tax bookkeeping payroll 52

Nancy McClelland, LLC

APRIL 9, 2023

If you want to know how to make IRS estimated tax payments, see my recent blog post with step-by-step instructions. If you already have an account for sales taxes or another reason — do not log in , unless you are making business tax payments. and ask you what kind of tax payment you wish to make.

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Illinois Tax tax preparation bookkeeping 52

Ryan Lazanis

JULY 11, 2023

Do you want to attract top-tier talent for your staff accountant position? One of the things you must have is a compelling and comprehensive staff accountant job description that showcases what you can offer. Table of Contents The Strategy for a Good Staff Accountant Job Description What Does a Staff Accountant Do?

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accounting jobs accountant jobs accounts jobs Account 40

Ronika Khanna CPA,CA

JANUARY 7, 2022

I knew that sometime around February an envelope would appear on my desk with a tax document that I would need to reflect on my tax return. These tax documents (also called tax slips) are referred to as a T4 (and an additional slip called the RL1 in Quebec).

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quickbooks tax return Non-Profits income tax 52

Ronika Khanna CPA,CA

JULY 23, 2021

Many small business and self employed owners take on the responsibility of doing their own accounting. You may do your own accounting from set up to preparing your own small business tax return OR you may have an accountant who simply takes care of your year end and tax reporting while you do the rest.

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quickbooks accounting software Account accountant 52

Shay CPA

FEBRUARY 28, 2024

Plus, getting things in order before you go to your accountant can streamline the process, helping you avoid extra expenses like troubleshooting services from your bookkeeper or rush-order billable hours with your CPA. Very few founders enjoy doing their taxes. That said, don’t assume QuickBooks or the like has done a perfect job.

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Tax CPA bookkeeping tax preparation 52

5 Minute Bookkeeping

JULY 29, 2021

If you’re looking for the best tips for taking on a massive undeposited funds cleanup in QuickBooks Online, this is the blog post for you. Tip #2: Reconcile business bank and credit card accounts. They invoice customers and receive payments via ACH, check, and QuickBooks payments. Tip #3: Diagnose the cause of the problem.

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quickbooks bookkeeping tax return Start-ups 52