Bookkeeping

For each program service, section 501(c)(3) and 501(c)(4) organizations must report any revenue derived directly from the activity, such as fees for services or from the sale of goods that directly relate to the listed activity. This revenue includes program service revenue reported in Part VIII, line 2, column (A), and includes other amounts reported […]

In addition to knowing what construction in progress accounting is, you should also know what’s involved when recording the account. Like previously stated, the construction in progress account has a natural debit balance. Construction in progress accounting is one of the essential categories for construction firms to track. In this entry we will discuss what […]

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Profit is considered the key component of operating margin, earnings per share, profitability ratios, etc. There are various statutory guidelines and local GAAPs that all corporations must follow while calculating the profits for any given period. It ensures transparency and allows better comparability in the company’s results. Many managers have qualms with accounting profit because they believe […]

In any business, big or small, someone has to keep track petty cash of every sale, purchase, and payment. Bookkeepers manage these tasks by organizing financial transactions and maintaining detailed records for future reference. This helps businesses stay compliant with regulations, monitor every dollar, and make informed financial decisions. Data-driven decision-making becomes easier with outsourced […]