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Intended to automate the majority of both your bookkeeping efforts as well as your tax preparation, 1-800Accountant turns a major hassle into a huge relief. With a dedicated accountant assigned to help you get your records in shape, the service maintains your finances and prepares your taxes simultaneously. At year end, tax prep is virtually

Before you use any accounting method, however, it’s important to answer what the difference is between cash and accrual accounting. In this post, we’ll compare the different options so you have what you need to know to make the best decision for your business. If you manage inventory or make more than $5 million a

Head over to the plus sign icon + and select Receive Payment. Choose your customer from the drop-down menu and their open invoice will automatically show up on the list. You will see Undeposited Funds as the default “Deposit to” account when you receive payments from invoices, use a payment item on an invoice, or

But you need the receipts for expense categorization, documentation for deduction support, and more. Also, well-documented and organized receipts can significantly help during audits. “Find someone you get along with and who will partner with you on your long-term goals rather than just filing your taxes,” Hattrup says. If you do decide to outsource your

The contribution margin is the amount of revenue in excess of variable costs. One way to express it is on a per-unit basis, such as standard price (SP) per unit less variable cost per unit. Alternatively, companies that rely on shipping and delivery companies that use driverless technology may be faced with an increase in