Kategori : Bookkeeping

Cash liquidity is a measure of a company’s ability to generate cash from its operations and accounts receivable. Fixed assets, such as land and buildings, are not as easily converted to cash and are therefore listed at the bottom of the balance sheet. Items on a company’s balance sheet are typically listed from the most to the least liquid. Therefore,...

Rent income is considered a temporary account because it represents revenue earned by a company from renting out property or equipment. These accounts reflect the company’s rental income for the period and are not carried forward to the next accounting period. After all, your unpaid customer invoices don’t reset just because you started a new accounting year. Since these temporary...

Form 2553 must be filed no later than two months and 15 days after the beginning of the tax year the election is to take effect. For new corporations, this is typically the date of incorporation. Are you a small business owner looking to elect your business as an S-corporation? This comprehensive guide on IRS Form 2553 is essential for...

For sole proprietors and small businesses, tax reporting is often easier when the business’s tax year matches up with that of the business owner. Moreover, while any sole proprietor or business may adopt the calendar year as its fiscal year, the IRS imposes specific requirements on those businesses wanting to use a different fiscal year. You must first obtain approval from...

While we don’t have an inbound support phone number, we do call customers when it helps. But first we want to make sure that we have the right person looking into your question, and they have all the necessary information – so you’re not waiting on hold or being passed around departments. When you raise a case you can request...

Record to report may seem simple at the outset but it requires considerable efforts. It is one of the few processes that are scrutinized by auditors from outside the company who draw inferences about the various controls that are in place at the time of financial close and reporting cycle. Transparency – The business reputation of a company, to a...

As a comprehensive bookkeeping firm, we specialize in delivering expert bookkeeping services tailored to the unique needs of smallbusinesses. Advanced Bookkeeping Solutions is a provider of bookkeeping service that offers high-quality, specialized solutions to businesses throughout the Monument area. The firm serves companies from industries ranging from construction to financial with services like payroll processing, bookkeeping, and QuickBooks training. Advanced...