Counto

MARCH 19, 2024

Here’s a comprehensive guide to annual return filing and record-keeping for sole proprietors: Personal Income Tax Filing In Singapore, a sole proprietorship isn’t a separate legal entity. Tax Deadlines Resident sole proprietors generally need to file their personal income tax returns by April 15th each year.

Record Keeping 52

Record Keeping Financial Records Accruals Corporation Tax 52

Less Accounting

SEPTEMBER 25, 2023

Proper accounting can prepare a business for tax season , growth opportunities, and help navigate external and internal factors that could affect a business’s profitability. You’ll be better able to make crucial decisions, sail through tax season, and reduce stress when it comes to managing your business.

Small Business Accounting 52

Small Business Accounting Accruals Bookkeeping Accounting 52

Jetpack Workflow

MARCH 23, 2023

While the year-end closing process is familiar to most due to tax reporting, it’s not the only necessary period-end process a business should have. The month-end closing process is just as essential, especially if you want to avoid the headache and overwhelm of last-minute error corrections spanning months during tax seasons.

Reconciling 52

Reconciling AR AP Payroll 52

Accounting Tools

MAY 14, 2023

The invoice describes the goods or services that have been sold to the customer, the amount it owes the seller (including sales taxes and freight charges), and when it is supposed to pay. If the seller is operating under the more widely-used accrual basis of accounting , it records transactions irrespective of any changes in cash.

Accounts Receivable 75

Accounts Receivable Accounts Receivable Account Receivables General Ledger 75

5 Minute Bookkeeping

APRIL 22, 2021

A cleanup starts with your client’s messy or incomplete books and follows a process – which includes reviewing the books, catching them up, fixing problems, and reconciling – and ends with books that are complete, accurate, and tax-ready. Tax form that’s being filed ( depends based on entity type and location).

QuickBooks 52

QuickBooks Reconciling Bookkeeping Bank Reconciliation 52

Analytix Finance & Accounting

DECEMBER 29, 2023

Accurate financial reporting is essential for business and food tax purposes. From underpaying taxes to potential fines, not getting an accurate picture of the business can be detrimental. Now comes the challenge of keeping accurate books and reconciling financial information from these third-party sources.

Accounting 52

Accounting Accounting Reconciling Financial Reporting 52

Nanonets

MAY 6, 2024

Inventory Reconciliation : Inventory reconciliation involves reconciling the quantities and values of inventory recorded in the general ledger with the actual physical inventory on hand. Adjustments may be made to the general ledger to rectify errors or reconcile differences between the records.

General Ledger 52

General Ledger Reconciling Data Entry Payroll 52

Nanonets

APRIL 30, 2023

These regulatory agencies control the amount of taxes withheld, how benefits and garnishments are paid and record retention requirements. Payroll accounting follows the matching principle under accrual accounting. Independent contractors aren’t subject to withholding taxes on the employee or employer side.

Payroll 52

Payroll General Ledger Accruals Accounting 52

Counto

FEBRUARY 22, 2024

Attention to Detail: Thoroughly record and reconcile all transactions to ensure accurate reporting and compliance. Streamlining Your Accounting Process Choose Your Business Entity: Selecting the right business structure impacts your liability and tax obligations, making it a critical decision for start-ups.

Accounting 52

Accounting Accounting Accruals Accounting Software 52

Jetpack Workflow

SEPTEMBER 1, 2024

Adjust entries for depreciation, accruals, and deferrals as necessary. Tax Planning and Preparation Even though the tax deadline for the current calendar year isn’t until the following April, you can complete plenty of planning and preparation tasks before the end of the year.

General Ledger 52

General Ledger Financial Statements Accounting Accounting 52

Jetpack Workflow

MARCH 21, 2023

For businesses using the accrual method of accounting, it means double the work, entering data twice for every transaction. Some advantages of using software for bookkeeping include the following: Reduces manual tasks, such as uploading bank transactions, sending invoices, and reconciling ledgers. Run payroll. Saves costs.

Bookkeeping 52

Bookkeeping Bank Reconciliation Reconciling Accounting Software 52

CapActix

SEPTEMBER 10, 2024

Furthermore, these challenges can lead to cash flow problems, missed tax deductions, and poor financial decision-making. It simplifies tax preparation and helps avoid penalties by maintaining organized records. This ensures accessibility for review, tax preparation, and analysis.

Bookkeeping 52

Bookkeeping Bookkeeping Services Outsourced Bookkeeping Financial Records 52

Nanonets

MARCH 12, 2024

Tax Reporting and Strategy The R2R process is instrumental in providing the detailed and organized financial information necessary for effective tax management. Tax Liability Assessment: Enables accurate calculation of tax obligations, ensuring compliance with tax laws and regulations.

Financial Reporting 52

Financial Reporting Accounting Software Financial Statements Collections 52

Cloud Accounting Podcast

JUNE 28, 2020

If you've ever tried to get your clients' Stripe, Square, or PayPal transactions into QuickBooks or Xero, you've probably pulled your hair out a few times trying to get income and fees recorded correctly so that the deposit amounts match the bank statement so you can reconcile. They'll do cash, or accrual accounting. That just happens.

Bookkeeping 40

Bookkeeping QuickBooks Payroll Auditing 40