1st Step Accounting

FEBRUARY 11, 2024

In my firm, I try my best to keep things efficient and streamlined. One way we do this is to create templates for as many things as possible. Things like emails, tasks for our monthly projects and that also includes chart of account lists for the different types of clients we serve. Being in business over 15 years now, I’ve had to set up numerous clients in QuickBooks Online and I’ve found having COA templates for industry and entity types is one of my biggest time savers.

Accounting 86

Accounting Accounting QuickBooks Computation 86

Insightful Accountant

FEBRUARY 11, 2024

Several versions of QuickBooks Desktop will stop being sold to U.S. 'new subscribers' after July 31, 2024.

QuickBooks 105

QuickBooks 105

Ace Cloud Hosting

FEBRUARY 11, 2024

Tax professionals face challenges with traditional hosting methods for Drake Tax Software. Limited accessibility, security concerns, and scalability issues hinder efficiency. However, cloud hosting offers a solution.

Tax 81

Tax 81

Accounting Tools

FEBRUARY 11, 2024

What is a Balance Sheet? A balance sheet lays out the ending balances in a company's asset , liability , and equity accounts as of the date stated on the report. As such, it provides a picture of what a business owns and owes, as well as how much as been invested in it. What is an Income Statement? The income statement presents the financial results of a business for a stated period of time.

Financial Statements 75

Financial Statements Tax Accounting Accounting 75

Speaker: Michael Veatch, Senior Director, Implementations & Ella Aguirre, Director of Solution Consulting

Embedding payments can be a transformative step for software companies looking to enhance their platform capabilities, boost customer satisfaction, and drive long-term growth. However, the success of payments hinges on a single thing: implementation. Drawing on real-world insights and experiences, payments implementation experts Michael Veatch and Ella Aguirre will explore actionable strategies that can lead to a transparent, friction-free launch and mitigate potential challenges like technical

IMA's Count Me

FEBRUARY 11, 2024

Join host Adam Larson as he sits down with distinguished guest Norman Strauss in the latest episode of the Count Me In. Listen as they share engaging stories and insights from Strauss's 60-year career in accounting. From the challenges of embracing technological changes to his pivotal role in standard-setting committees, Strauss reveals the highs and lows of a lifelong journey in the accounting profession.

Accounting 64

Accounting Accounting 64

Accounting Tools

FEBRUARY 11, 2024

What are Debits and Credits? Business transactions are events that have a monetary impact on the financial statements of an organization. When accounting for these transactions, we record numbers in two accounts, where the debit column is on the left and the credit column is on the right. Debits A debit is an accounting entry that either increases an asset or expense account, or decreases a liability or equity account.

Accounts Payable 75

Accounts Payable Accounts Payable Accounts Receivable Accounts Receivable 75

Accounting Tools

FEBRUARY 11, 2024

What is Normal Costing? Normal costing is used to derive the cost of a product. This approach applies actual direct costs to a product, as well as a standard overhead rate. It includes the actual cost of materials, the actual cost of labor, and a standard overhead rate that is applied using the product's actual usage of whatever allocation base is being used (such as direct labor hours or machine time).

Financial Reporting 74

Financial Reporting Cost Accounting Budgeting Accounting 74

Outsourced Bookeeping

FEBRUARY 11, 2024

The financial industry is undergoing a seismic shift, and at the forefront of this transformation are Certified Public Accountants (CPAs) and accountants. As technology, regulations, and market dynamics redefine the financial landscape, these professionals must evolve, seamlessly blending traditional financial expertise with cutting-edge technological prowess.

Outsourced Bookkeeping 59

Outsourced Bookkeeping Bookkeeping Accounting Accounting 59

Accounting Tools

FEBRUARY 11, 2024

What is an Activity Cost Driver? An activity cost driver is an action that triggers the incurrence of a cost. A cost driver causes variable expenses to be incurred. There may be more than one activity cost driver that initiates the incurrence of a variable expense. For example, it is quite possible that both operator labor hours and the time spent processing parts on a machine are activity drivers inherent to the manufacture of a product.

Cost Accounting 40

Cost Accounting Collections Financial Accounting Accounting 40

Accounting Tools

FEBRUARY 11, 2024

What are the Five Cs of Credit? The five Cs of credit form the basis for an analysis of customer credit by many organizations. These five conceptual areas provide evidence for whether a customer can pay back what it owes, or whether it will default. The five review areas are noted below. An examination of these items will give a credit analyst a broad-based view of the ability of a customer to pay in a timely manner.

Collections 40

Collections Billing 40

Speaker: Amanda Adams, Fractional CFO, CPA

Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Amanda Adams, a seasoned fractional CFO and CPA passionate about transforming back-office operations for finance teams. This session will cover critical best practices and process improvements tailored specifically for accounting professionals.

Accounting