How to Create an Effective Onboarding Checklist for Accounting Clients
Ensure all of their financial data is accurately migrated or converted to your client’s QuickBooks Online account. Going through the chart of accounts prior to starting your accounting services means that you will spend less time later reclassifying older transactions and financial statements. Some clients may require data migration while others may require data conversion. […]
Deborah Gemborowski, CPA, P C. New Rochelle Certified Public Accountant
A concise and helpful dashboard gives you an overview of your finances. Innovative views of your data (watchlists, spending plans, and reports) keep you in constant sync with your finances. Integrating highly skilled tax preparation with reliable and personalized service, AAS Accounting & Financial Services Inc helps taxpayers achieve their financial goals. At MARK A […]
Product Costs and Period Costs
This method is useful when a company wants to identify areas of inefficiency and reduce costs. That’s why product costing is a vital component of any thriving business. This article delves into the intricacies of product costing to help you gain a deeper understanding of its importance. What are some strategies for reducing direct labor […]
Working Capital Position
A company can also improve working capital by reducing its short-term debts. The company can avoid taking on debt when unnecessary or expensive, and the company can strive to get the best credit terms available. The company can be mindful of spending both externally to vendors and internally with what staff they have on hand. […]
How to Do Accounting for Your Construction Business 8 Steps
Construction bookkeeping services can assist in streamlining this process and ensuring that all expenses are properly documented. At its core, Construction Accounting involves the meticulous tracking and allocation of costs to specific projects, often referred to as job costing. This process is critical for ensuring that every expense—whether it’s for labor, materials, equipment, or subcontractors—is […]
What is the Accounting Equation? Basic & Expanded Formula Explained
All assets owned by a business are acquired with the funds supplied either by creditors or by owner(s). In other words, we can say that the value of assets in a business is always equal to the sum of the value of liabilities and owner’s equity. The total dollar amounts of two sides of accounting equation are […]
Contra Liability Definition + Journal Entry Examples
The most common contra type, contra assets, records the loss in value of any asset accounts listed in your general ledger. And by comparing these contras against their corresponding parent accounts, you can better understand the actual value of the assets retained by your business. Because contra asset accounts are used so frequently, it’s worth […]
Journal Entry for Cash Shortage Overage
He has been the CFO or controller of both small and medium sized companies and has run small businesses of his own. He has been a manager and an auditor with Deloitte, a big 4 accountancy firm, and holds a degree from Loughborough University. Cash Over and Short acts as an Expense account when there […]
The ultimate guide to financial modeling for startups Netherlands
An example of what a personnel forecast could look like, for instance for personnel working on sales and marketing, can be found below. If you find it difficult estimating demand at all one way of tackling this is to perform keyword research. Keyword tools give you insights in the search volumes for keywords that relate […]
How to Find Coefficient of Determination R-Squared in R
R-squared can be useful in investing and other contexts, where you are trying to determine the extent to which one or more independent variables affect a dependent variable. However, it has limitations that make it less than perfectly predictive. R-squared will give you an estimate of the relationship between movements of a dependent variable based on an […]