Virtual bookkeepers bring a wealth of knowledge and experience to your business. Many have expertise in tax compliance, financial reporting, and budgeting, making them a valuable asset for companies that need professional-level bookkeeping. Just as they track money coming in, virtual bookkeepers also manage money going out. Foreign Currency Translation This includes paying bills, tracking […]
Category: Bookkeeping
Accounting Services Tax Preparer
On an ongoing basis, your outsourced accountant will manage this system. This reporting allows you to set expectations for performance at the beginning of a period and compare actual results each month. It is beneficial for tracking items such as construction/rehab costs and monthly rent & expenses. IAS 40 applies to all investment property owners, regardless of […]
Top Ecommerce Bookkeeping and Accounting for Online Sellers
Our focus is strong and efficient processes from pricing to integration to getting you financials you can actually understand and make decisions on. One of the most complex issues ecommerce sellers need to deal with is sales tax. Sales tax can arise from physical presence in a state – an office, warehouse, employees, or from […]
Landlord Software Banking, Accounting & Rent Collection
And while we discussed state income tax in a previous article, you should also remember local income taxes. These are sometimes assessed in large urban areas (think New York City, San Francisco, etc.). There are 14 states that https://glowtechy.com/why-professional-real-estate-bookkeeping-is-essential-for-your-businesses/ allow local governments to collect an income tax. These can cover programs like short- and long-term […]
About Form 3115, Application for Change in Accounting Method Internal Revenue Service
Transfers may occur during the lifecycle of a fixed asset for various reasons. An asset may be transferred from a construction-in-progress account to a completed fixed asset account when fully constructed. A fixed asset may be transferred between subsidiaries, business segments, locations, or departments of an entity. In the case of asset grouping, one or […]
Bank Reconciliation Definition & Example of Bank Reconciliation
The transaction would not be recorded in the general ledger as an official business purchase. However, the team may realize the mistake stems from an external source, like if the vendor or credit card company made an error. In this case, they’ll need to reach out to discuss the problem, provide supporting details, and request […]