You know those forms that you get every year before filing taxes — W2’s and 1099’s? The IRS also gets a copy and uses those forms to double-check against the income that you report. Any discrepancies between what you report and what they receive on those forms is going to jump out as a red … Read more
When you need to invoice your client, you can easily do so with just a few clicks from your project dashboard. As a result, every transaction recorded in your preferred accounting software reflects in your construction management software in real time. This way, contractors can easily track the financial progress of every construction project and … Read more
Peterson Acquisition is widely recognized as a reputable provider of Rapid City business broker services, boasting a track record of success and a strong industry standing. They’re ranked as the #1 business broker in the country, building jennifer young bookkeeping a solid foundation of trust and reliability. The following companies are selected based on their … Read more
QuickBooks will then display a pop-up warning that the action might put your account off balance. Click Yes to proceed with removing the transaction from the reconciliation. In the screenshot above, you’ll see that the checks for $200 and $125 are already reconciled though they haven’t been cleared by the bank. Similarly, the $325 is … Read more
For example, the rate a freelance web developer charges may be different than that of a freelance graphic designer, because each freelancer specializes in a different area. The Wave app lets you easily generate and send invoices to your clients wherever and whenever you need to. A common issue when invoicing in Microsoft Word, Excel, … Read more
Note that your conditions and location can also have different wear and tear effects on your asset. For example, buildings and equipment in what is a life insurance premium areas with strong weather may see more rapid wear and tear from rust, water, and environmental damage. Inverse year number is the first year of expected … Read more
However, if management wants to determine the profitability of a specific product or customer, it is necessary to allocate or assign nonmanufacturing costs to the products and/or customers outside of the financial statements. In the end, management should know whether each product’s selling price is adequate to cover the product’s manufacturing costs, nonmanufacturing costs, and … Read more
You have beentasked with determining if this transition is appropriate. These examples will show you how to adjust an unadjusted trial balance looks like. In Completing the Accounting Cycle, we continue our discussionof the accounting cycle, completing the last steps of journalizingand posting closing entries and preparing a post-closing trialbalance. The next step is to … Read more
Whether you are experienced in the construction industry or starting out for the first time, this guide has something for you. Revenue recognition is how a a business determines when they’ve officially earned revenue from a contract or project. The first step for all construction firms is to open a separate business bank account that … Read more
With Accenture’s transformative solutions, companies can say goodbye to manual data entry and tedious paperwork. Instead, they can embrace a future where intelligent automation takes care of the mundane tasks, allowing employees to focus on more strategic and value-added activities. It’s all done with a touch of humor to keep things light-hearted and entertaining. However, … Read more