Categoria: Bookkeeping

  • Accounting Process Best Practices: Three-Way Match

    Unfortunately, this high volume of purchases offers plenty of opportunities for billing fraud. To mitigate the invoice fraud risk, many business owners and finance departments use 3-way matching. When trying to scale for growth, manual accounts payable processes can be a major deterrent. By migrating to automated matching processes, you can streamline your accounts payable procedures and…

  • Free Receipt Book Template Get 2023 Sample

    A receipt is also critical paperwork for keeping your business records and compiling your tax returns, so keep copies of these properly tucked away. Whether you’re a small business owner or a freelancer, mastering how to fill out a receipt book can help you maintain accurate records and run your business smoothly. This way, all…

  • Strategic Budgeting Considerations for Nonprofits

    Your operating budget, also known as a broad scope budget, gives you a financial picture of the activities your organization has planned for the coming year. Boards also use the operating budget to show projections of various amounts of revenue and their sources. Just as it sounds, an operating budget shows how much you intend…

  • Debit vs Credit: Bookkeeping Basics Explained

    While credit comes in many forms, the most common are credit cards and home, car and student loans. You must apply for credit, and the amount you’re authorized to use is determined by lending institutions (like banks or mortgage companies) based on your personal financial history. Xero offers double-entry accounting, as well as the option…

  • Optimizing & Calculating Ending Inventory

    Because inventory is often the largest asset an ecommerce business has, it is important accurate inventory documentation is important. Inventory management software can automate inventory tracking, reducing the likelihood of errors and ensuring that inventory levels are accurately reflected in financial statements. Radio frequency identification (RFID) systems are electronic tags that enable non-contact reading and…

  • Topic No 560, Additional Medicare Tax Internal Revenue Service

    So, you’ll be liable for the additional 0.9% Medicare tax. However, neither of your employers will withhold the tax since each of your wages is less than $200,000. So, you should make estimated tax payments and / or request additional withholding on Form W-4. The employer is required to withhold Additional Medicare Tax on total…