Bookkeeping

Non-taxable wages are specific types of compensation exempt from income taxes. Understanding which wages are non-taxable allows small business owners to provide added benefits to their employees efficiently. Disposable income refers to the leftover wages after all taxes and deductions have been taken from an employee’s paycheck. Generate Pay Stubs There are several different taxes …

50 Payroll Terms Every Small Business Owner Should Know Read More »

You can file Form 502 for free online using iFile or you can file electronically from your personal computer, using an online approved efile software vendor. If you wish to pay by check or money order, the payment is due by April 15. You must also submit Form IND PV with your check or money …

OLT TAX CORNER ~ Self-select PIN Program Read More »

Reconciliation of bank statements is the process of comparing the transactions recorded in the company’s accounting records with the transactions listed on the bank statement. This process involves matching the amounts and dates of each transaction to ensure that they are consistent across both sets of records. A company prepares a bank reconciliation statement to …

Bank Reconciliations: Everything You Need to Know Bench Accounting Read More »

To maximize your revenue and improve inventory efficiency, use best-in-class software like QuickBooks Enterprise that can easily manage the complexity of inventory management. There’s always a chance they won’t like the new thing and leave retailers stuck with unsold inventory. However, trying out new products via consignment is a great way to try something with …

The Ultimate Consignment Inventory Guide for Sellers in 2023 Read More »

View the midsize business accounting software page for a list of options. NetSuite is a great fit for global operations, supporting multi-currency transactions and local tax regulations out of the box. Like Intacct, NetSuite offers a drag-and-drop report builder called SuiteAnalytics. However, creating complex custom reports requires some degree of coding knowledge. Our Experience To …

10 Best Accounting Software for 2024 Reviews, Pricing Read More »

Adds powerful capabilities on top of payroll, such as garnishment payment service, SUI management, background checks, and job posting through ZipRecruiter®1. However, they report that there are a lot of features to consider when setting up the platform. Adding helpful features such as the IT or workflow modules can get pricey. In addition, there may …

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This includes all the goods and materials a business has stored for future use, like raw materials, unfinished parts, and unsold stock on shelves. These typically have a maturity period of one year or less, are bought and sold on a public stock exchange, and can usually be sold within three months on the market. …

Current Ratio Formula Example Calculator Analysis Read More »

Since absorption costing includes allocating fixed manufacturing overhead to the product cost, it is not useful for product decision-making. Absorption costing provides a poor valuation of the actual cost of manufacturing a product. Therefore, variable costing is used instead to help management make product decisions. In addition, the use of absorption costing generates a situation …

Absorption Costing Explained, With Pros and Cons and Example Read More »

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Instead of leaving your staff to handle time-consuming and cumbersome tasks, they can add more value to your organization by getting further training to take on supervisory and other decision-making roles. Cloud-Based Software Solutions – To benefit the most from artificial intelligence, you need a solution provider that can help you centralize your system, standardize …

Finance and Accounting Business Process Outsourcing FAO Read More »