Does your business operate by taking on long-term contracts? If so, among the many other business challenges you face, you must also decide how to recognize and report the income and expenses related to these contracts. What are your options? And how can you decide between them? To help you get started, here is a brief guide to the most common means of accounting for long-term contracts. 1. Completed Contract Method
27 November 2019
As a business owner, you must deal with some income tax concepts that most Americans don't have. One of these is capital gains. Capital gains can greatly affect your income tax bill, both positively and negatively. And they are one way to boost your company's bottom line. How? Here is a short guide to business capital gains. What are Capital Gains and Losses? Capital gains are the profits a business makes off the sale of an asset or investment.
5 September 2019
QuickBooks is an accounting software on the market that is ideal for businesses and individuals alike. Despite the popularity of QuickBooks, its utility is often overlooked. There are lots of tricks for saving time when using this popular book. #1 Add Attachments to Records You can easily add attachments to records. This can make it easier to keep track of things. You can add attachments when you send out notes to vendors.
7 May 2019
When you first start out in business, you might be your biller, human resource professional, and accountant all in one. While this can work for a short period of time, this is not going to allow you the time you need to grow your business. If you are working hard to expand the services you provide, and you find yourself working too many hours a week, it's time to see how you can outsource some of the work you do.
27 February 2019