Bookkeeping

They devise tax-efficient strategies tailored to the client’s financial situation. By layering in a cosourcing model, you can benefit from the collaboration that arises from a teaming environment. Cosourcing teams provide strategic insights that can help clients work through critical challenges and seize opportunities. We help clients harness accounting advisory services the power of data […]

Although using a trial balance can help detect accounting errors, some financial statement errors or omissions may not be prevented simply by using a trial balance. A trial balance can be used to detect any mathematical errors that have occurred in a double entry accounting system. Adjusted trial balances can also remove advanced payments or

With the increased popularity of corporate social responsibility, other viewpoints have emerged. Shareholders can be considered stakeholders, but the opposite statement is not necessarily true. Stakeholders may own shares, such as in cases where employees are given an amount of stock as a sign-on bonus, but in many cases do not. Further, while all companies

In addition to valuable insights on your business, you’ll now be fully prepared for any reporting to tax agencies, lenders, financial advisors, practice consultants and other stakeholders. With an implementation plan in place, we will begin working with you and your team. Our outsourced bookkeeping & CFO services are available anywhere in or outside of

Unearned revenue This transaction is recorded as a prepayment until the expenses are incurred. If the Final Accounts are to be prepared correctly, these must be dealt with properly. Remember, we are making these adjustments for management purposes, not for taxes. Or, if you defer revenue recognition to a later period, this also increases a

Pilot is not a public accounting firm and does not provide services that would require a license to practice public accountancy. Kruze provides startups with specialized accounting, tax advisory, and financial reporting services you need so you can focus on the big picture. With growing customer demand for sustainability, Environment, Social and Governance measures (known

If your prospective virtual bookkeeping service understands the value of adding to the conversation, then it is a good sign that they will be genuinely helpful to your business. Virtual bookkeeping, also known as cloud accounting, is when a bookkeeper or accountant works with their client remotely. This is made possible through accounting software that

Assume that a restaurant owes workers $3,000 in payroll for the last five days of March and that the next payroll date is April 5. Using the accrual method, the $3,000 wage expense is recorded on March 31, along with recording a $3,000 increase in wages payable liability. Read through the following questions to learn

Many companies have fixed and variable costs that change from product to product and month to month. Knowing how your costs affect your profits is crucial to understanding your business’s financial health. As mentioned above, contribution margin refers to the difference between sales revenue and variable costs of producing goods or services. This resulting margin

On the other hand, variable costs are costs they depend on the amount of goods and services a business produces. Likewise, a cafe owner needs things like coffee, and pastries to sell to visitors. It provides one way to show the profit potential of a particular product offered by a company and shows the portion