Category: Bookkeeping

Those with QuickBooks Online accounts are potentially eligible, though they’ll still need to qualify on the strength of their accounting history. For a one-time fee (which is no longer publicly listed online, as of January 2025, but used to cost $50), QuickBooks Live Bookkeeping will set you up with an expert for one session. The […]

They will sign off on the return, giving you an added layer of confidence. This service effectively bridges the gap between going it alone and handing everything over to a professional. While you can use traditional tax software instead, a mobile app may be all you need to get your taxes filed and checked off […]

There are many ways to implement cost reduction in projects, from proper allocation of resources to mentoring and retaining your team. Project managers should explore all aspects of cost reduction, whether that’s process improvements, reducing project scope or even outsourcing as needed. These cost control examples illustrate that managing costs requires detailed planning, regular monitoring, […]

Accrual accounting is the most commonly used method for larger businesses and is required for publicly traded companies. Under this method, expenses are recognized when they are incurred, not when they are paid. The exploration of incurred expenses encompasses their definition, occurrence, and distinction from paid expenses. Step 3: Debit the liability account and credit […]

Additionally, non-cash items, timing differences, and other factors can impact the relationships between the statements. Therefore, it’s important to consider additional factors and perform a thorough analysis when interpreting the financial statements. Having said that, a financial model must include financial statements that are properly linked to one another as well as a balancing balance […]

With over 30 years of experience, Parsi & Company, led by Said Parsi, has established itself as a comprehensive accounting firm. For individuals, these include personal tax preparation, tax dispute resolution, trust and estate planning, assistance with personal loan applications, and personal forensic accounting. MASH Accounting and Consulting LLP is a certified public accounting firm […]

With our team working under one roof it means that it is easy to stay in touch with your team, and our specialists can work together to provide a joined up, seamless service. Stay informed and up-to-date with our insightful and informative blog articles covering the latest in accounting, tax, and small business tips. Experience […]

It provides detailed visibility into spending, helping optimize costs, improve budgeting, and reduce risks like fraud. This clarity also supports better stakeholder confidence, tax compliance, and overall financial efficiency. A thorough GL code breakdown is crucial for accurate financial recordkeeping, reporting, and decision-making within an organization. It ensures that what is invoice coding financial transactions […]

Accumulated Depreciation is not considered an expense that affects the determination of net income. Businesses can evaluate replacement cost-effectiveness by analyzing the accumulated Depreciation and comparing it to the cost of acquiring a new asset. Accumulated Depreciation is a valuable information source regarding an asset’s age and condition. Accumulated depreciation on 31 December 2019 is […]

The majority of companies assume the residual value of an asset at the end of its useful life is zero, which maximizes the salvage value depreciation expense (and tax benefits). If the residual value assumption is set as zero, then the depreciation expense each year will be higher, and the tax benefits from depreciation will […]