Category Archives: Bookkeeping

This creates a deferred tax liability of $1 million, representing taxes it will pay in future years as the timing difference resolves. For example, if a company owes $50,000 in lease payments, with $10,000 due next year, $10,000 is a current liability, and $40,000 is a long-term liability. These obligations are a normal part of […]

It focuses on meeting the diverse needs of customers, delivering exceptional customer service, and providing a seamless banking experience for everyday transactions and long-term financial planning. Many businesses take advantage of commercial banking vs retail banking treasury management services since they make money management easier. These services may include ACH, Remote Deposit Capture, Domestic and […]

There’s a variety of ways to store your records — manually, digitally, or using accounting software. If you’re tech-savvy, digital options can offer automatic calculations and real-time financial monitoring, much like a GPS for your finances. But, if you’re a fan of the traditional approach, ledger books offer a tangible, hands-on method, but require more […]

Put our financial leadership to work at your business with a fractional CFO. They are able to analyze complicated financial data and understand how the company has performed while helping form a vision for where it could go. cfo vs controller Fill out the form below and our team will reach out to discuss how […]

For example, a company may want to determine the cost of customer service, in which case the customer service function would be the cost object. Product-level activities are related to specific products; product-level activities must be carried out regardless of how many units of product are made and sold. (For example, designing a product is […]

You’ll engage with various components, such as managing accounts receivable, payables, and payroll. Poor cash flow management can jeopardize the financial stability of your medical practice. Implement effective billing and collection processes to ensure timely payments from patients and insurance providers. Medical practice accounting involves managing the financial records, transactions, and reporting specific to medical […]