Stephanie Peterson

SEPTEMBER 13, 2021

Write Off Bad Debts: If you have uncollected debts from services performed or products sold, they should be written off typically after 120 days or when you send the uncollected debt to a collection agency. The best way to recognize bad debts is to view an open invoice report regularly.

Bookkeeping 52

Bookkeeping Reconciling Virtual Bookkeeping QuickBooks 52

Billah and Associates

DECEMBER 11, 2019

Record and pay bills on time An efficient bookkeeper does know the importance of maintaining the record of your business cash flow especially for start-ups and small businesses. Being a business owner it is your responsibility to make sure that they are not using any infamous suspense account which is a common practice.

Bookkeeping 40

Bookkeeping Reconciling Small Business Bookkeeping Financial Statements 40

Remote Quality Bookkeeping

JUNE 19, 2023

Sales tax Most small retail businesses will also be required to collect and pay sales tax (on behalf of your customers). The specifics will vary depending on what your business is selling, where you are located, and, sometimes, where your customers are. These costs can also fluctuate, making them variable costs.

Bookkeeping 52

Bookkeeping Budgeting Tax Payroll 52

Remote Quality Bookkeeping

JUNE 19, 2023

Sales tax Most small retail businesses will also be required to collect and pay sales tax (on behalf of your customers). The specifics will vary depending on what your business is selling, where you are located, and, sometimes, where your customers are. These costs can also fluctuate, making them variable costs.

Bookkeeping 52

Bookkeeping Budgeting Tax Payroll 52

Remote Quality Bookkeeping

JULY 24, 2023

If you’re a small business owner or entrepreneur, you’ve probably heard of GAAP, the Generally Accepted Accounting Principles. This set of accounting principles provides standard rules and methods for businesses to collect and report financial information. GAAP standards evolve, with the FASB regularly issuing updates.

Financial Reporting 52

Financial Reporting Bookkeeping Financial Statements Accruals 52

5 Minute Bookkeeping

MARCH 31, 2022

If that wasn’t bad enough, I was really scared to go and collect money from them because they sold guns, they had guns, and they carried guns. Due to some disagreement in management, they ended up terminating my services, and when they did, they never paid me.

QuickBooks 52

QuickBooks Bookkeeping Virtual Bookkeeping CPA 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. Don’t discount the power of word of mouth.

Bookkeeping 98

Bookkeeping Bookkeeping Services XERO QuickBooks 98

Invoicera

MAY 29, 2024

Compile the Information You Need Start by collecting all the important details. Process Of Creating Credit Notes Though it may seem a little intimidating, don’t worry! It’s a systematic procedure that can be divided into easy assignments. This includes information from the original invoice that needs correction.

Invoicing 52

Invoicing Record Keeping Billing Account Receivables 52

Cloud Accounting Podcast

APRIL 28, 2020

But what if late in the middle of the night, somebody from my billing team realizes that they're not gonna collect cash; they wanna reverse an entry, cancel a contract, book something in my deferred revenue account? I think 2020 and 2021 is a really big year for all of our collective spaces in the cloud-accounting and finance area.

Auditing 40

Auditing Accounting Accounting XERO 40

Remote Quality Bookkeeping

MAY 14, 2025

Crowdfunding as a Funding Solution Crowdfunding has become a popular means for small businesses to increase capital without depending on traditional financing. It allows entrepreneurs to collect small contributions from a large number of supporters.

Small Business Bookkeeping 52

Small Business Bookkeeping Bookkeeping Business Bookkeeping Bookkeeping Services 52