Category: Bookkeeping

Many small business owners find it convenient to do their own bookkeeping and accounting using solutions like QuickBooks. Others meanwhile prefer to record transactions in their business and then let have an accountant look over their records. Another part of accounting focuses on providing a company’s management with the information needed to keep the business…

In this scenario, you might be running out of cash but may not know. It could be the result of untimely payment from customers that can negatively influence operating cash flow regardless of more or less product sales. In the digital era, every small or large business is concerned about its financial health as it…

For instance, in industries where technological advancements are rapid, the book value of equipment and machinery may significantly differ from their current market value. This discrepancy can lead to an understatement of a company’s asset base, potentially affecting key financial ratios and metrics used by investors and analysts to assess the company’s performance. For example,…

Alternatively, the board may provide a consolidated annual audit report that gives an independent review of the association’s financial status. Due to the nature of this method, accrual accounting provides a more accurate financial picture. Because of this, it is the preferred basis of homeowner association accounting. Integrated accounting software automates financial tasks, reducing the…

Not to mention you’ll be more resilient during drastic changes in the market (i.e., rising material costs, increased subcontractor rates, etc.). Well, just because cash flow forecasts are difficult, it doesn’t mean you shouldn’t do them anyway. There are a number of creative financing options available to construction businesses. Avoid Overbilling and Underbilling From the…

Welding is a procedure that unites two or more segments of metal by applying heat to liquefy the material, thereby facilitating their fusion. This technique is essential for industries like construction, automotive, and shipbuilding. Learn more about Rootstock income summary Financials by visiting the product page and watching a webinette about Rootstock financials. What you…

Each KPI offers unique insights online bookkeeping into different aspects of the business. For subscription services, revenue is recognized over the life of the contract, reflecting the value of services provided. These tools work tirelessly, helping close the month faster and generating automated, error-proof revenue recognition schedules. The Expense Principle A deep analysis of your…