Category Archives: Bookkeeping

On the other hand, accountants are generally equipped with an accounting degree and may even be state-certified CPAs. You can expect most bookkeepers to maintain the general ledger and accounts while the accountant is there to create and interpret more complex financial statements. Just make sure you have a plan to pay off the balance […]

Rules and laws are generally in place to force accounting entities and accounting firms to retain accounting records for a specified period of time. Financial accounting guidance dictates when transactions are to be recorded, though there is often little to no flexibility in the amount of cash to be reported per transaction. International public companies […]

This comes with the added stress that you won’t find in a regular full-time job. If you want to know how to become an accountant, this is a useful guide to start with. The Ascent is a Motley Fool service that rates and reviews essential products for your everyday money matters. Her work has been […]

You don’t need a fancy report but you should have something that shows how much money you have set aside and the anticipated cost for replacements and larger capital projects. This report is far superior than looking at a capital/ reserve bank account which can be deceiving. You may think you have a lot of […]

If a contra account is not used, it can be difficult to determine historical costs, which can make tax preparation more difficult and time-consuming. This type of account could be called the allowance for http://urbanroots.ru/en/archives/4463 doubtful accounts or a bad debt reserve. The balance in the allowance for doubtful accounts represents the dollar amount of […]