1st Step Accounting

FEBRUARY 11, 2024

In my firm, I try my best to keep things efficient and streamlined. One way we do this is to create templates for as many things as possible. Things like emails, tasks for our monthly projects and that also includes chart of account lists for the different types of clients we serve. Being in business over 15 years now, I’ve had to set up numerous clients in QuickBooks Online and I’ve found having COA templates for industry and entity types is one of my biggest time savers.

Accounting 86

Accounting Accounting QuickBooks Computation 86

Ace Cloud Hosting

FEBRUARY 11, 2024

Tax professionals face challenges with traditional hosting methods for Drake Tax Software. Limited accessibility, security concerns, and scalability issues hinder efficiency. However, cloud hosting offers a solution.

Tax 81

Tax 81

Insightful Accountant

FEBRUARY 11, 2024

Several versions of QuickBooks Desktop will stop being sold to U.S. 'new subscribers' after July 31, 2024.

QuickBooks 98

QuickBooks 98

Accounting Tools

FEBRUARY 11, 2024

What is a Balance Sheet? A balance sheet lays out the ending balances in a company's asset , liability , and equity accounts as of the date stated on the report. As such, it provides a picture of what a business owns and owes, as well as how much as been invested in it. What is an Income Statement? The income statement presents the financial results of a business for a stated period of time.

Financial Statements 75

Financial Statements Tax Accounting Accounting 75

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.

Accounting

IMA's Count Me

FEBRUARY 11, 2024

Join host Adam Larson as he sits down with distinguished guest Norman Strauss in the latest episode of the Count Me In. Listen as they share engaging stories and insights from Strauss's 60-year career in accounting. From the challenges of embracing technological changes to his pivotal role in standard-setting committees, Strauss reveals the highs and lows of a lifelong journey in the accounting profession.

Accounting 62

Accounting Accounting 62

Accounting Tools

FEBRUARY 11, 2024

What is Normal Costing? Normal costing is used to derive the cost of a product. This approach applies actual direct costs to a product, as well as a standard overhead rate. It includes the actual cost of materials, the actual cost of labor, and a standard overhead rate that is applied using the product's actual usage of whatever allocation base is being used (such as direct labor hours or machine time).

Financial Reporting 74

Financial Reporting Cost Accounting Budgeting Accounting 74

Ontrack Bookkeeping

FEBRUARY 11, 2024

When was the last time you felt that you had a week’s worth of energy to pour into just four days of work? As COVID-19 has reshaped our work-life balance and continues to redefine what is essential in our professional world, the concept of a shorter workweek is gaining traction. With proposed legislation in various states and countries, and the ongoing conversation among professionals, it’s evident that the discussion around the 4-day work week is much more than a passing trend.

Payroll 52

Payroll Customer Service 52

Accounting Tools

FEBRUARY 11, 2024

What is an Activity Cost Driver? An activity cost driver is an action that triggers the incurrence of a cost. A cost driver causes variable expenses to be incurred. There may be more than one activity cost driver that initiates the incurrence of a variable expense. For example, it is quite possible that both operator labor hours and the time spent processing parts on a machine are activity drivers inherent to the manufacture of a product.

Cost Accounting 40

Cost Accounting Collections Financial Accounting Accounting 40

Accounting Tools

FEBRUARY 11, 2024

What are the Five Cs of Credit? The five Cs of credit form the basis for an analysis of customer credit by many organizations. These five conceptual areas provide evidence for whether a customer can pay back what it owes, or whether it will default. The five review areas are noted below. An examination of these items will give a credit analyst a broad-based view of the ability of a customer to pay in a timely manner.

Collections 40

Collections Billing 40

Accounting Tools

FEBRUARY 11, 2024

What are Debits and Credits? Business transactions are events that have a monetary impact on the financial statements of an organization. When accounting for these transactions, we record numbers in two accounts, where the debit column is on the left and the credit column is on the right. Debits A debit is an accounting entry that either increases an asset or expense account, or decreases a liability or equity account.

Accounts Payable 75

Accounts Payable Accounts Payable Accounts Receivable Accounts Receivable 75

Speaker: Robbie Bhathal, Founder & CEO, and Matthew Acalin, Head of Credit Intelligence

In today's volatile financial environment, how confident are you in your company’s financial forecasting? To get the most accurate cash predictions that will lead to long-term financial survival, real-time data is critical. Innovative cash management strategies can lead to better credit opportunities, more sustainable growth, and long-term financial prosperity.