Accounting Tools

JULY 18, 2023

When an account payable is paid, debit accounts payable and credit cash. When recognizing payroll expenses , debit the wages expense and payroll tax expense accounts, and credit the cash account. Petty cash entry. Example Asset Journal Entries Cash reconciliation entry. Payroll entry.

Petty cash 75

Petty cash Accounts Payable Accounts Payable Payroll 75

Accounting Tools

MAY 21, 2023

The position can be assisted by an outside CPA who advises on how to record certain of the more complicated business transactions. This means that the full charge bookkeeper reports straight to a senior manager, such as the president, and may interact directly with the company's board of directors and auditors.

Bookkeeping 75

Bookkeeping Petty cash Payroll Reconciling 75

Stephanie Peterson

JULY 21, 2022

If you don't have a reasonably strong background in accounting and business tax law, you shouldn't handle your own bookkeeping. While most small businesses don't need to hire a CPA to handle their accounting needs, it is vital to hire an accounting professional who at least has an accounting degree or proper accounting certifications.

Bookkeeping 52

Bookkeeping Petty cash Virtual Bookkeeping QuickBooks 52

Accounting Tools

JUNE 8, 2024

The bookkeeper may also work with an outside CPA, who advises on the proper accounting procedures, and who may review the bookkeeper’s financial statements. The bookkeeper position is intended to be a freestanding position where there is no more senior person in the accounting department, so reporting to the owner makes the most sense.

Bookkeeping 40

Bookkeeping Petty cash Financial Statements Deposits 40

Nanonets

JUNE 29, 2023

It’s a single app for various features such as receipt scanning, automatic expense categorization, policy enforcement, approval workflows, and seamless integration with popular accounting systems.

Expense Reports 52

Expense Reports Data Entry Invoicing Budgeting 52

Nanonets

JANUARY 17, 2024

InnovateX adopted an expense system that automatically updated with the latest tax and regulatory requirements, ensuring compliance and avoiding a potential hefty fine due to an overlooked tax regulation. With ever-changing regulations, managing compliance manually is like juggling dynamite.

Expense Reports 52

Expense Reports Budgeting Data Entry Auditing 52

Cloud Accounting Podcast

MAY 18, 2020

Paycheck Protection Program, CARES Act, unemployment insurance, furloughs, layoffs, cash flow, CDC guidance, employee safety, paid leave, tax credits - tracking all of the constantly changing COVID-19-related information for your clients is getting overwhelming. People are suing the bank because they've been holding the tax money.

Payroll 40

Payroll Billing Deposits Accounting 40