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    Indirect Cost: Meaning and Examples

    Definition and Meaning Indirect costs are part of the costs of production (rendering of services) that cannot be directly included in the cost of a certain type of product or service without additional calculations or it is economically unreasonable. Indirect costs, unlike direct ones, are not related to a certain type of product, but a […]

    How to Prepare for Tax Season: Tips and Advice

    Tax season can be confusing and stressful. While many factors affect your tax rate and refund, one thing that you can control is proper preparation. In this article, we are going to share some tips on how to prepare for tax season. General advice on how to prepare for tax season Whether you have a […]

    What Is a QuickBooks ProAdvisor and How to Become One?

    QuickBooks ProAdvisor Overview QuickBooks is a widely used software among business owners and bookkeeping/accounting specialists. To become a QuickBooks ProAdvisor and show everyone that you are an expert in using this program, you must obtain a certificate. It is given for a year, after which you would need to do the training (optional) and take […]

    Explanation of Posting in Accounting

    What does posting mean? The first step in accounting is journalizing transactions. When you put the entries into the journal, to figure out how much cash a company has or the balance in the Inventory account, you would have to go through a list of millions of these entries. To make it easier, you need […]

    What is a Contra Asset Account? Explanation and Examples

    What are contra accounts? Contra accounts are simply linked to another account. They match up with a General ledger account to bring the balance of that account down. Items recorded in the contra account are specifically designed to offset other transactions. To achieve this, records made in contra accounts always have an opposite balance compared […]
    What is a Sales Journal?

    What is a Sales Journal?

    Definition and meaning The Sales Journal is an accounting journal used in the accounting system that is dedicated to keeping track of the sales items that debtors have purchased on account. In other words, this journal is used every time a business makes a sale on the account.  A customer comes in to purchase something, […]
    How to Fill Out a W4 in 2021: A step-by-step guide

    How to Fill Out a W4 in 2021: A step-by-step guide

    What is Form W-4? Form W-4 is an important document for every US employee (including a Work and Travel program participant who works for a US company). Completing Form W-4 is required to determine which taxes will be withheld from your earnings on a weekly or monthly basis. It ensures that the company they work […]
    Real Estate Bookkeeping Basics and Finance Management

    Real Estate Bookkeeping Basics and Finance Management

    Why do you need real estate bookkeeping? It is no longer a secret for anyone that each area of ​​business has its own specifics. This includes the organization and maintenance of bookkeeping records. However, when it comes to real estate bookkeeping, especially a wide-profile real estate agency, there are many things that need to be […]
    Remote bookkeeping - Definition, How it works, and more

    Remote bookkeeping – Definition, How it works, and more

    Remote bookkeeping overview There are several options for organizing bookkeeping in an enterprise. When choosing the optimal format, first of all, one should focus on the scale and characteristics of the organization’s activities. Increasingly, the choice is made in favor of remote bookkeeping. Remote bookkeeping can be done by a freelancer or an outsourcing company.  […]
    Wave Accounting Review: Features, Pros, and Cons

    Wave Accounting Review: Features, Pros, and Cons

    Are you looking for a bookkeeping solution you can use to keep track of your money, invoice your clients, collect payments, and take care of other bookkeeping and accounting tasks, then this Wave Accounting review will tell you about a free option available on the market for your consideration..  Overview Wave is free software that […]