article thumbnail

The Difference: Cash Basis Accounting vs. Accrual Accounting

xendoo

As a business owner, accounting methods may not rank that high on your list of passions, but understanding cash basis accounting vs. accrual accounting can be vital to your company’s health. . Cash basis and accrual accounting represent the two major methods of accounting used by financial professionals.

article thumbnail

3 Tips for Catching Up Your Books

xendoo

Bookkeeper ” should never be one of them. Some owners handle their own accounting, thinking they can do it all. Staying current with your bookkeeping will allow you to provide this documentation and increase your chance of receiving these funds. Others might reconcile their books beforehand to save the account time and money.

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

How firms can create inclusive workplaces to retain LGBTQ+ accountants

ThomsonReuters

Perceived lack of support driving exodus of LGBTQ+ accountants Firms are seeing a higher attrition rate among LGBTQ+ accountants, with the research indicating that as high as 20 percent of departing professionals left the industry due to a lack of DEI.

Account 98
article thumbnail

What Type of Accountant Does Your eCommerce Business Need?

xendoo

Chances are that your accounting and bookkeeping needs are low on your list of priorities, but that can come back to bite you. If your eCommerce store starts to grow, you can always switch to the accrual method down the line, though you may need to consult with an eCommerce accountant to help you with your books.

Account 52
article thumbnail

Top Online Bookkeeping and Accounting Services for 2021

xendoo

Good business bookkeeping is vital for any successful company, both for legal and financial reasons. Accurate information from bookkeeping is not only necessary to know where your business stands financially at a given moment, but it is also essential for strategy planning, managing cash flow, and predicting profitability. .

article thumbnail

CPA Solutions for Amazon Sellers

xendoo

If you’ve been using an Amazon FBA (Fulfilled by Amazon) account, then you might already be familiar with the administrative fees associated with warehousing, packing, shipping, and customer service. But there’s another need you’ll have to consider: accounting and bookkeeping. Choosing the Right Accounting Method.

CPA 90