TaxConnex

OCTOBER 12, 2023

Enter past-due sales tax, a sometimes-overlooked and haunting liability that might not get the attention of, say, overdue income or property tax, until it’s too late. Yes, at first glance sales tax risk might be considered just a marginal risk. Sales tax should get extra attention if the two companies are in different industries.

Sales 113

Sales Tax audit tax return 113

TaxConnex

FEBRUARY 24, 2022

But sometimes, the deal is held up for various reasons – including sales tax exposure within the company being acquired. But many business owners have been gut-punched during due diligence when an unanticipated sales and use tax?deficiency This could all be avoided if founders know their potential risk with sales and use tax?beforehand

Sales 195

Sales Tax tax return payroll 195

CPA Practice

APRIL 22, 2023

Mike Milan, aka Cash Flow Mike, offers expertise in strategic planning, finance, and sales gained over 20+ years of diverse professional experience. He created a financial management training program called The Clear Path To Cash – Its 8 Lessons to Maximizing Cash in Any Given Business Situation.

financial statements 52

financial statements accounting and finance payroll accounting software 52

Withum

MAY 7, 2024

The Financial Accounting Standards Board (“FASB”) noticed diversity in practice related to applying a discount to the price of an equity security that is subject to a contractual sale restriction. A contractual sale restriction does not change the market in which that equity security would be sold.

Sales 52

Sales accounting standards financial statements Account 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? Recording sales is a big part of that. What should you know about recording sales for ecommerce? Ecommerce entrepreneurs and bookkeepers collect sales tax and financial statements.

Sales 105

Sales bookkeeping Account accountant 105

Withum

SEPTEMBER 28, 2023

Here are the top three considerations for owners of staffing firms thinking about a sale: Consistency – Buyers are interested in businesses with a track record of consistent growth and strong profits. Historical financial performance creates the basis for long-term forecasts and gives credibility to the strategic direction of the company.

Sales 59

Sales financial statements audit CPA 59

RogerRossmeisl

OCTOBER 29, 2023

It’s also a common financial statement adjustment that valuators make when valuing a business. Some are sales rainmakers, while others drive strategic direction or manage the day-to-day operations of the business. Reasonable compensation is an issue that comes into play in divorce, shareholder disputes and tax cases.

financial statements 232

financial statements CPA Tax Sales 232

Acterys

JULY 12, 2023

In the dynamic world of finance, where strategic decisions shape the course of businesses, mastering vertical analysis can help you simplify your statement, make critical financial decisions, and understand the underlying composition and trends that drive your business’ financial performance. Why Use Vertical Analysis?

financial statements 130

financial statements accounting and finance accounts payable Sales 130

Acterys

NOVEMBER 27, 2023

You’ll also learn how to streamline financial planning and reporting with a financial planning and analysis (FP&A) solution. 7 Financial Statements for FP&A Financial statements are foundational reports that provide an overview of a company’s financial position and performance.

financial statements 130

financial statements accounting and finance Sales accounting software 130

RogerRossmeisl

JULY 16, 2023

Look at the numbers During the due diligence process of a merger or acquisition, forensic experts review financial statements for subtle warning signs of fraud. The post Good Acquisition?

forensic accounting 238

forensic accounting financial statements Legal CPA 238

RogerRossmeisl

MAY 5, 2023

Fortunately, a business valuation professional has the financial knowledge and real-world experience to help maximize the selling price and minimize the guesswork. Preparing for sale Valuators understand the relationship between risk and return as well as factors that affect value.

financial statements 195

financial statements audit CPA Tax 195

RogerRossmeisl

MARCH 14, 2021

Plan early to engage a fraud expert to review financial statements and other documents for signs that you could be dealing with a dishonest seller. Subtle warning signs When reviewing a seller’s financial statements, forensic experts look for subtle warning signs of fraud.

financial statements 246

financial statements CPA Sales 246

SMBAccountant

JUNE 21, 2023

When it comes to financial statements, two key documents play a vital role in providing insights into a company's financial health: the income statement and the balance sheet. While both are important in understanding a company's financial position, they serve different purposes and provide distinct information.

Non-Profits 130

Non-Profits accounting equation financial statements accounts payable 130

Cherry Bekaert

MARCH 21, 2023

Overview of New Guidance Last summer, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. The guidance clarifies that a contractual sale restriction, such a lock up on shares of a publicly traded company that recently completed an IPO, should not be considered in measuring fair value.

Sales 74

Sales Legal accounting standards financial statements 74

TaxConnex

JULY 6, 2023

In part 1, we looked at the mounting financial costs of maintaining sales tax compliance with the thousands of tax jurisdictions nationwide. Rolling the dice What have companies done to avoid complying with sales tax regs where they have economic or physical nexus? Do not collect sales tax and fail to remit it.

auditor 130

auditor audit Tax Sales 130

VetCPA

JULY 19, 2022

Comparing a business’s key financial ratios with industry standards and with its own past results can highlight trends and identify strengths and weaknesses in the business. Financial statement information is most useful if owners and managers can use it to improve their company’s profitability, cash flow, and value.

financial statements 130

financial statements Sales Account accountant 130

TaxConnex

SEPTEMBER 28, 2022

By now most businesses that sell online have heard about nexus, the connection that a company has with a jurisdiction that ignites a sales tax obligation. Nexus can be economic and based on a threshold of sales volume in a given time. Penalties for failing to file and remit state sales tax can be severe. Finding answers.

South Dakota 205

South Dakota Alaska Tax Sales 205

SMBAccountant

MARCH 8, 2023

According to Investopedia, tax accounting is “a structure of accounting methods focused on taxes rather than the appearance of public financial statements”. Tax accounting applies to individuals, businesses, and corporations. Tax accountants must use the Internal Revenue Code (IRC) to provide accurate tax returns.

tax accountant 130

tax accountant Tax Account accountant 130

Acterys

FEBRUARY 22, 2023

In this blog, we look at three main reporting types that FP&A teams must use to monitor the financial health and performance of a business. Type 1: Financial Statements Financial statements are a set of foundational reports that provide an overview of a company’s financial position and performance.

financial statements 130

financial statements accounting and finance Sales Finance 130

Ronika Khanna CPA,CA

MAY 5, 2024

To better understand this it helps to understand other transaction types that are not journal entries in Quickbooks Online : Sales transactions that are entered as invoices or payments of invoices Expense transactions that are entered through bills and payments of bills. For example telephone, internet and hydro all have sales tax.

income tax 98

income tax Account accountant accounted 98

CPA Practice

DECEMBER 22, 2023

One of the primary ways companies can protect against cash misappropriation is through establishing proper oversight of employees who have access to bank information, record sales, accept and deposit cash receipts, reconcile bank accounts and enter/approve new vendors. Furthermore, these policies and procedures should be regularly enforced.

Expense Reimbursements 117

Expense Reimbursements payroll general ledger financial statements 117

Basis 365

FEBRUARY 28, 2024

Bookkeeping: The Foundation of Financial Order Think of bookkeeping as the meticulous record-keeping of your business's daily financial activities. It's the systematic and organized process of: Identifying Transactions: Each sale, purchase, expense, or income is a transaction. Bookkeepers meticulously process these transactions.

bookkeeping 65

bookkeeping Account accountant accounted 65

TaxConnex

APRIL 26, 2022

Not paying attention to your sales tax obligations is never wise. True, it’s a relatively new requirement to collect sales and use tax from remote customers, but it’s one the taxman has always taken seriously from businesses – and that seriousness is only intensifying. Your sales tax obligation starts with nexus. Services are?not?tangible

audit 173

audit Tax Sales Start-ups 173

Withum

MAY 9, 2024

In its simplest form, auditors provide an opinion on an organization’s financial statements. Most people who receive a financial statement look first to see what the auditor’s report and opinion say. That report is about two pages and, in some respect, is the only part of the financial statement that the auditor prepared.

auditor 59

auditor audit financial statements forensic accounting 59

PYMNTS

FEBRUARY 11, 2020

Walmart de Mexico’s sales are looking up, with a 2.7 The company, sometimes known as Walmex, is Mexico’s biggest retailer and said its total sales had jumped 4.2 Walmart would then report that information on its financial statements. percent since last year. Walmart opened 214 stores in Mexico in 2013.

Sales 52

Sales Construction financial statements Retail 52

Basis 365

JUNE 29, 2023

A bookkeeper is responsible for maintaining accurate and up-to-date financial records for a business. They record transactions, reconcile accounts, and generate financial statements. In addition, bookkeepers typically handle day-to-day financial tasks such as invoicing, accounts payable, and accounts receivable.

bookkeeping 90

bookkeeping accounts payable basic accounting accounting and finance 90

PYMNTS

APRIL 2, 2020

In a filing with the Securities Exchange Commission (SEC) on Thursday (April 2), the board said the agency should not rely on the company’s recent financial statements, which are believed to be inaccurate. The coffee giant’s shares sank after Liu and several top employees were suspended for misconduct , according to Yahoo Finance.

forensic accounting 52

forensic accounting Sales financial statements Washington 52

SMBAccountant

NOVEMBER 21, 2022

Financials statements and performance are no different. If incorrect or inaccurate data is used or missing, the financial performance and indicators used to determine success, value, creditworthiness, and financial viability are also not correct. Most of us are familiar with the saying “garbage in, garbage out”.

Account 130

Account accountant accounted bookkeeping 130

MyIRSRelief

APRIL 29, 2024

Tax specialists familiar with R&D tax credits, stock options, and angel investor regulations are key for tech businesses to navigate their unique financial landscape. Understanding sales tax regulations, occupancy taxes, and fluctuating seasonal income is essential for these businesses.

Tax 130

Tax bookkeeping Account accountant 130

Basis 365

MARCH 16, 2023

Financial records provide a clear picture of your business's value. Sales Tax Compliance: As an eCommerce business, you will most likely have to collect and remit sales tax in certain states depending on your economic and/or physical nexus triggers. Accurate accounting helps ensure that you're complying with these requirements.

Account 98

Account accountant accounted accounting software 98

Simple Accounts

OCTOBER 19, 2022

A cash flow statement is a financial report that notes the sources of income and expense details of the company in each period. It is as important as any other financial statement. . Sales revenue . A cash flow statement provides a detailed image of the company’s performance for the period. Royalties .

general ledger 98

general ledger financial statements accounting and finance Finance 98

PANALITIX

AUGUST 15, 2021

For ideas on making your financial review (advisory) services more attractive, read on. One way to add value to a client’s business (and get paid for it) is to review their financial statements, perhaps once-a-year, quarterly or monthly. This is easy to determine where the success metrics are clear, e.g. in sales.

financial statements 147

financial statements Education Account accountant 147

Withum

JULY 25, 2023

While gift cards are prevalent in many businesses, there continues to be misconceptions on the impact to a business’ financial statements and tax returns when considering how to report income related to the cash received when issuing a gift card, as well as with the redemption of that gift card. It was unredeemed as of the end of 2023.

financial statements 97

financial statements tax return E-commerce Tax 97

xendoo

DECEMBER 3, 2021

Between catching their breath after tax season and managing holiday traffic and sales, year-end bookkeeping and accounting tasks understandably fall to the bottom of the to-do list. . Reviewing bank and credit card statements to confirm that they match. . Accurate records ensure reliable financial statements.

bookkeeping 98

bookkeeping Account accountant accounted 98

xendoo

FEBRUARY 25, 2022

If your company requires a set of reviewed or audited financial statements, you’ll need a clean set of books. During a financial review or audit, accountants will ask to see documentation of expenses and income. They may perform other accounting activities to assess your level of financial controls in the company. .

Account 111

Account accountant accounted general ledger 111

Basis 365

APRIL 3, 2023

However, many Shopify store owners need to fully understand these fees and how they can affect their financial statements. In this blog post, we'll discuss how to break out Shopify fees for accurate financials and the benefits of outsourced e-commerce accounting. The percentage charged depends on your plan, ranging from 0.5%

E-commerce 102

E-commerce financial statements Sales Account 102

Basis 365

FEBRUARY 15, 2023

Tax Accounting duties Tax accountants verify a company's financial statements throughout the year and prepare the final reports necessary to file the company's annual tax returns. Working with separate bookkeepers or year-end accountants gives you more financial oversight.

bookkeeping 97

bookkeeping tax accountant Tax Account 97