Billah and Associates

JULY 8, 2022

Completing the application will be simpler because you won’t have to look for and compile the necessary financial data. You’ll have everything you need close at hand if your accountant provides you with regular, current financial statements.

Small Business Accounting 52

Small Business Accounting Accounting Accounting Bookkeeping Services 52

Remote Quality Bookkeeping

MAY 8, 2023

Components of Chart of Account Each chart of accounts will vary based on the exact nature of your business. However, most COAs will include the main components listed below, namely the balance sheet and income statements. It also reveals the amount invested in your company by the shareholders.

Accounting 52

Accounting Accounting Financial Statements Bookkeeping 52

Remote Quality Bookkeeping

JANUARY 8, 2024

You also want to avoid mistakes that can lead to the IRS knocking on your door; for example, service-based businesses are not eligible for the cost of goods sold deduction, so must be careful about how those costs are portrayed on financial statements.

Virtual Bookkeeping 52

Virtual Bookkeeping Bookkeeping Financial Statements Financial Reporting 52

Remote Quality Bookkeeping

APRIL 3, 2023

Although corporate taxes work differently than small businesses, the IRS didn’t leave corporations out of the equation for the 2023 tax year, either. This is lower than the previously imposed corporate tax rate of 21%.

Tax 52

Tax Corporation Tax Bookkeeping Financial Statements 52

Remote Quality Bookkeeping

JUNE 26, 2023

If you’re like most small business owners, you probably haven’t put much thought into accounting methods. You may or may not even be aware that you have options when deciding how to do your accounting and that your choices will impact how you produce your financial statements and file your taxes.

Accruals 52

Accruals Accounting Accounting Bookkeeping 52

Remote Quality Bookkeeping

JUNE 26, 2023

If you’re like most small business owners, you probably haven’t put much thought into accounting methods. You may or may not even be aware that you have options when deciding how to do your accounting and that your choices will impact how you produce your financial statements and file your taxes.

Accruals 52

Accruals Accounting Accounting Bookkeeping 52

Future Firm

APRIL 4, 2022

In starting an accounting firm, the combination of accounting and bookkeeping services, processes, and technology required to deliver an ideal outcome to the market you are targeting in a repeatable, systematic way would be a simple way to think about what a productized service offer is. Monthly accounting and bookkeeping services?

Bookkeeping 98

Bookkeeping Bookkeeping Services XERO QuickBooks 98

Billah and Associates

MAY 29, 2020

In practical terms, improper bookkeeping and accounting are some of the reasons for business failure. Without having them, you are blindly operating your business. Including other areas, you should also focus on small business bookkeeping since it can help you in many ways.

Bookkeeping 52

Bookkeeping Small Business Bookkeeping Business Bookkeeping Financial Records 52

Remote Quality Bookkeeping

JULY 24, 2023

It prevents accountants from speculating when representing a business’s finances on financial statements. The principle of prudence does not prevent businesses from engaging in financial forecasting, but forecasts and speculation cannot be included in formal financial statements.

Financial Reporting 52

Financial Reporting Bookkeeping Financial Statements Accruals 52

Billah and Associates

DECEMBER 11, 2019

In simple words, bookkeepers ensure that all of your business income, expenses and transactions are recorded in your book and they reconcile your company’s financial accounts every month. In addition to that, bookkeepers can also help you prepare your company’s financial statement and financial report.

Bookkeeping 40

Bookkeeping Reconciling Small Business Bookkeeping Financial Statements 40