Category Archives: Bookkeeping

Get to Know the Printers Building: Part Two

While they are not certified, based on Department of Labor 5500 fillings and other third-party data sources, we believe their ESOP meets our standards of significant and broad-based employee ownership. Worcester Bookkeeping Cooperative is a professional service provider specializing in financial management for businesses in Worcester, MA. The cooperative offers a range of bookkeeping services … Continue reading Get to Know the Printers Building: Part Two

Change in Net Working Capital NWC Formula + Calculator

If the company does need to borrow money, demonstrating positive working capital can make it easier to qualify for loans or other forms of credit. A business that maintains positive working capital will likely have a greater ability to withstand financial challenges and the flexibility what is change in net working capital to invest in … Continue reading Change in Net Working Capital NWC Formula + Calculator

IRS Form 1065: The Ultimate Guide to Partnership Tax Returns

All information prepared on this site is for informational purposes only, and should not be relied on for legal, tax or accounting advice. You should consult your own legal, tax or accounting advisors before engaging in any transaction. The content on this website is provided “as is;” no representations are made that the content is … Continue reading IRS Form 1065: The Ultimate Guide to Partnership Tax Returns

Deposit payments into the Undeposited Funds account in QuickBooks Desktop

When you have your deposit slip, make a bank deposit in QuickBooks to combine payments in Undeposited Funds to match. This two-step process ensures QuickBooks always matches your bank records. We began by explaining what undeposited funds are and why it’s essential to clear them regularly. Undeposited funds act as a temporary holding account for … Continue reading Deposit payments into the Undeposited Funds account in QuickBooks Desktop

Top 5 Best Virtual Accounting Services for 2021

To be effective in your business, you virtual accounting must focus on weightier tasks like strategic management. You’ll get accurate and easily understandable financial and accounting metrics that can improve your day-to-day decisions, like bank loans or investments. Imagine working with readily available virtual accountant professionals worldwide. To say you can avoid paying a full-time … Continue reading Top 5 Best Virtual Accounting Services for 2021

Outsourcing Accounting Services: A Comprehensive Guide With Pros and Cons

A full-time employee can cost between $40,000 to $60,000 annually, plus https://www.bookstime.com/ additional overhead costs. In contrast, outsourced bookkeeping services typically range from $20,000 to $30,000 annually, depending on the complexity and volume of transactions. This cost difference can result in substantial savings, making outsourced bookkeeping a cost-effective solution for managing company money. Pro #1: … Continue reading Outsourcing Accounting Services: A Comprehensive Guide With Pros and Cons

Accounting for Small Businesses: A Comprehensive Guide to Financial Management

Below you’ll find an overview of eight popular business funding solutions, along with the pros and cons of each to help guide you through the research process. This program encourages small businesses to engage in federal research and development that has the potential for commercialization. Find out if the SBIR’s competitive awards-based program makes sense for you. … Continue reading Accounting for Small Businesses: A Comprehensive Guide to Financial Management