Then, using an online calculator, determine how much your time is worth, and figure out how many “dollars” you spend on bookkeeping per month. It is typically easier to maintain clean books throughout the year rather than trying to prepare for taxes when tax deadlines are already close. Some the documents for filing taxes if […]

It’s important to note that salaries for the same position may differ due to several factors, including experience, education level, training, skills, and competencies. For instance, Lawn Care positions at Nationwide offer the highest average annual salary of $177,175, while Account Executive roles have an average annual salary of $0. At Nationwide, salaries can vary […]

The IRS uses a series of tax items to lower or fully reduce your foreign income tax obligation. Generally, you must file a tax return if you earn foreign income above applicable income minimums, or a type of income that requires you to file a tax return for other amounts you earn (such as self-employment […]

Doing so makes better use of the accountant’s time, and has no material impact on the financial statements. The reported amounts on his balance sheet for assets such as equipment, vehicles, and buildings are routinely reduced by depreciation. Depreciation expense is used for assets whose life is not indefinite—equipment wears out, vehicles become too old […]

In this section, we will cover key capabilities and how the AP automation solution integrates with QuickBooks Accounts payable process. The other option is to use an Accounts Payable software like ProcureDesk to automate the bill or invoice approval process. QuickBooks Bill Pay helps you take control of AP with built-in automation that simplifies invoice intake, […]

But the beauty of the Punch team is that you get this expertise at a fraction of the cost of building your own in-house team. Every tech startup is completely unique, and so are your bookkeeping needs. Punch Financial has proven experience helping startups scale up safely at a commitment they can afford. Our Comprehensive Service […]

Even if you have a PTIN but you received it prior to September 28, 2010, you must apply for a new or renewed PTIN by using the new system. If all your authentication information matches, you may be issued the same number. You must have the origins of lehman’s ‘repo 105’ a PTIN if you, […]

On the top, the name of the ledger is mentioned, the left side is for debit entries, and the right side is for credit t accounts entries within the ledger. It is essentially a visual or graphical representation of the company’s accounts which can be used to present, scrutinize, or review. A double entry system […]

Direct Material Price Variance is calculated by subtracting the actual cost of materials (actual quantity times actual price) from the standard cost of materials (actual quantity times standard price). It can also be calculated as the actual quantity of materials multiplied by the difference between the standard price and the actual price. The direct material […]