There are five ways in which a business can choose to calculate the cost or value of inventory. There is no “wrong” method to use to value your inventory, but there is a “best” way for your business. We’re obsessed with giving business owners exactly what they need in order to take control of their […]
You should reconcile bank accounts, credit cards, loans, lines of credit, and payroll liabilities. Reconciling QuickBooks accounts is the single most important piece of the entire bookkeeping process. Reconciling your accounts is the only way to know that you have recorded all of your financial transactions. The next restaurant accounting area ...
Don Arthur, RPh, discusses what lays ahead in independent pharmacy, from clinical care to success stories. The all-new Accounting Software from FreshBooks empowers you to spend less time and stress on your pharmacy’s bookkeeping. Discover how we can help you have better finances with a personalized demo from a Bench expert, ready to ...
Over the years, houses tend to increase in value due to appreciation, so carrying the property at the purchase price understates the true amount of owner’s equity. Reports created from a real estate bookkeeping system can also be generated based on a specific date range, such as monthly, year-end, or trailing 12 months. By taking […]
A strong accounting foundation is relevant whether you sell small properties as a hobby or facilitate property management services and generate millions of dollars. Although the scale of each one is different, the underlying habits are similar. For tax purposes, real estate agents are considered self-employed, which puts you squarely in charge ...
Advanced software solutions offer features for ensuring ethical accounting. Regular reviews ensure that businesses remain ethical in their accounting practices. Training sessions offer insights into ethical accounting techniques. For real estate professionals, ethical accounting is indispensable. Accurate ethical practices ensure that ...