The proceeding amortization schedule illustrates the appropriate amortization of the short-term and long-term portions of the prepaid subscription. FastTrack company buys one-year insurance for its delivery truck and pays $1200 for the same on December 1, 2017. Now that the…
To learn more about how Clio can help law firms to easily manage trust accounting and three-way reconciliation, while staying compliant, read our guide here. There are many types of reconciliation in accounting, with the best method for a situation…
This added layer of transparency aims to give investors and stakeholders a clearer understanding of a company’s financial health and decision-making processes. Dollar-Value LIFO operates on the principle of valuing inventory in terms of dollars rather than physical units. This…
Overbilling and underbilling can significantly affect job costing in a construction business. This core performance indicator helps track the progress of each job in relation to billing. This accounting method is great for small construction businesses that don’t have…
Overbilling and underbilling can significantly affect job costing in a construction business. This core performance indicator helps track the progress of each job in relation to billing. This accounting method is great for small construction businesses that don’t have…
At Fourlane, we tailor our small business bookkeeping services around your unique business, budget, goals, and processes; and, it’s all done in the software you already use. Our bookkeepers are experts in QuickBooks, Xero, NetSuite, and Bookstime Acumatica. We’ll dedicate…
In the “Account” field, select the appropriate bank account where you will eventually deposit the funds. This should be the same account that corresponds to your actual bank statement. We had a customer pay us through the QuickBooks payment portal,…
Most businesses operate on credit, but when you sell goods on credit, there’s always a risk that some customers may miss the due date, fail to pay the invoice and affect your cash flow. The process of receivable management involves…
Numbers will be rounded twice or truncated; this will cause more trouble than benefit. The reason is that floating point numbers are processed by CPU as approximate numbers and not exact values. If (M,D) type of declaration is desired then…
To learn more, speak with one of our friendly experts — and see how Remote can help your business. Before you do anything, communicate your intention to change with your team. Let them know what’s changing, why you’re doing it,…
