Bookkeeping

Ensure that all taxes, including payroll and sales taxes, are calculated correctly and paid on time. This will help you avoid penalties construction bookkeeping and maintain good standing with tax authorities. Bridgit Bench is the #1 workforce planning software built for the construction industry. Our mission is simple — help contractors streamline operations and navigate […]

By doing so, the gross profit and net income figures on the income statement are corrected, providing a more accurate representation of the company’s profitability. At the end of the year, with the full benefit of hindsight, the company knows what its actual factory overhead expenses have been. Since the company charged off only $288,450, […]

It is the difference between the actual cost of materials used in production and the budgeted cost of materials based on the budgeted mix of materials. It is a sub-component of Material Usage Variance, which measures the overall difference between the actual quantity and cost of materials used in production and the budgeted or expected […]

Managing finances in the construction industry presents unique challenges that require tailored bookkeeping strategies. Essential financial reports in construction accounting include job cost reports, work-in-progress (WIP) reports, profitability reports, and cash flow statements. These reports provide critical insights Bookkeeping for Veterinarians into the financial health of projects and the overall business. Bookkeeping tips to account […]

You don’t get any more revenue from that client for the rest of the year. That really doesn’t reflect reality, because you still need to deliver that service for the rest of the year. With accrual accounting, you would recognize $10,000 of that revenue each month. The remainder would stay on your balance sheet as […]

All Platinum features, plus Assisted Payroll to handle federal and state payroll taxes filings for $1/employee each pay period. Users can also add a Salesforce CRM connector for $150/month and QuickBooks Time Elite for $5/employee each month. Starts at $4,668/year for one user (only offered as a monthly subscription). Available in industry-specific editions; includes inventory […]

Public companies, on the other hand, are required to obtain external audits by public accountants, and must also ensure that their books are kept to a much higher standard. Company or shareholders’ equity often provides analysts and investors with a general idea of the company’s financial health and well-being. If it reads positive, the company […]

That’s because we’re committed to helping our employees achieve on both personal and professional levels. As the marketplace continues to evolve, organizations can gain the rigor and flexibility needed to allow for constant improvement in knowledge and skill levels by outsourcing. As a leading think tank, the Thomson Reuters Institute has a proud history of […]

The A/P section focuses on vendor management, bill management, bill payments, and other payable-related transactions. A/P features include creating vendors and bills, recording purchase orders and converting them to bills, creating service accounting for product warranties items, and recording full or partial bill payments. If you need personalized customer support, you can upgrade to QuickBooks […]

When it comes to income taxes, you can still take advantage of certain tax credits even when your business has no taxable income. Finding opportunities to defer tax credits can help save you money down the line. Again, the impetus for these funding rounds differs for every business. The common thread among all funding rounds […]