Category: Bookkeeping

Additionally, any inventory left over at the end of the financial year does not affect cost of goods sold (COGS). You should consult your own professional advisors for advice directly relating to your business or before taking action in relation to any of the content provided. After that sale, your ending inventory is the remaining…

Of all the outsourced accounting services, an outsourced CFO service is by far the most customizable. Whereas outsourced bookkeeping and outsourced controller work largely follow a predefined framework, an outsourced CFO relationship can be anything you want it to be. Outsourced CFO services are much more advisory in nature than outsourced bookkeeping or controller services.…

With the free QuickBooks mobile app, you can automatically track your business mileage without manually recording your odometer readings. Starting February 2023, you must use QuickBooks Online Accountant to add payroll to your service. With the previous version, your client could add it through their QuickBooks Online account. In the “Your Practice” section, you’ll have…

Unlike an overdraft, you don’t have to go into the red on your bank account to access a line of credit. Invoice finance and asset-based lending is especially useful if customers are slow in paying their bills. Non-banks are financial institutions that are don’t offer lending and depositing services. Making the sale may not be worth…

Establishing effective two-way communication is vital, both internally and externally. This may seem like an obvious factor, but it is often ignored, especially when it comes to the finance team and customers. Enable easy-to-use and numerous options for stakeholders—both internal and external to interact in the way they choose to. Create a formal, written policy…

Intuit, which owns QuickBooks, has discontinued its accountancy service for Indian businesses since Apr. 30, 2023. “This applies to all subscriptions and services for QuickBooks Online, QuickBooks Online Accountant, the QuickBooks mobile app, and QuickBooks Time,” the company said in a statement. QuickBooks allows you to keep track of financial functions like income and expenses,…