Bookkeeping

Retained earnings refer to the historical profits earned by a company, minus any dividends it paid in the past. To get a better understanding of what retained earnings can tell you, the following options broadly cover all possible uses that a company can make of its surplus money. For instance, the first option leads to […]

Because the balances in the temporary accounts are transferred out of their respective accounts at the end of the accounting year, each temporary account will have a zero balance when the next accounting year begins. This means that the new accounting year starts with no revenue amounts, no expense amounts, and no amount in the

To do this, you must pick a business structure such as sole proprietorship or limited liability company. While no typical business structure exists for a self employed accountant, a limited liability company or limited liability partnership is common for new businesses that want to limit personal liability. Small Business Association can assist you in picking

The distinction between a regular bookkeeper and a full charge bookkeeper primarily resides in their level of responsibility and the complexity of their tasks. Since it is the largest expense for most companies, employers need to think strategically about work roles. Full charge bookkeeping is a skillset that drives a variety of financial responsibilities. We explain