Category: Bookkeeping

It’s easy to record all deposits to bank accounts as income, but deposits made to IOLTA accounts aren’t income for your law firm—they belong to your client. Keeping client funds separate ensures the money isn’t inadvertently used for your business or personal expenses. Accountants typically

Becoming well-versed in the various accounting methods is a good business https://wootiles.com/2022/01/26/frederick-and-rosen-full-service-accounting-firm/ practice. Your accounting needs may evolve and knowing another accounting type may prove helpful. We’ll explain the different branches of accounting and how they can benefit your business. Accounting is the systematic recording,

And let employees know when and how they can expect their reimbursement. There are other types of business expenses of course, including employee travel, food costs, reimbursement, etc. Now…let’s dive into different types of employee expense reimbursements and whether or not they’re taxable. Like an

When a company is bought for more than its net asset value, the difference is recorded as goodwill. Professional testing ensures that write-downs are taken when necessary, providing a realistic view of the company’s health. If a company overstates its assets, it misleads stakeholders regarding

Once you return to work, you’ll need to end your unemployment insurance coverage because you’ll no longer qualify for the program. Begin by contacting your state’s unemployment insurance office, which can often be completed online. However, it’s important to check with your state’s unemployment benefits