Accrual basis of accounting is generally preferred over cash accounting as its gives a true and fair picture of the fianancial statements. That being said, the cash method usually works better for smaller businesses that don’t carry inventory. If you’re an inventory-heavy business, your accountant will probably recommend you go with the accrual method. Understanding…

Strategies for Your Book-keeping There is definitely place for improvement with regard to accounting. Below are some tips for your accounting that may help you feel more organized and also create your company run more smoothly. There is definitely space for progress with regard to bookkeeping. Here are some tips for your accounting that make…

The high attrition rate is one of the primary reasons behind the towering restaurant labor costs. 75%.This, coupled with the capital-intensive nature of this industry, makes running a restaurant a very costly affair. This also makes it necessary for restaurants and cafes to control their labor costs to maintain profit margins. Calculating food cost percentage…

Bookkeeping Services Berkshire The next time you find yourself wondering, “What does a bookkeeper do? ”, you now know that the answer can be anything from reconciling transactions to processing payroll—the answer can even be managing all of the above. Bookkeepers are also pretty good at keeping up with the latest and greatest technologies. This…

Owner’s Equity They report the “disposition of earnings” on the company’s Statement of Retained Earnings, one of the four primary financial accounting reports published quarterly and annually by publicly held companies. The other three are the Income Statement, Balance Sheet, and Statement of Changes in Financial Position SCFP. When business is good for a highly leveraged…

Cost of a Bookkeeper I work at a bookkeeping office, we have no CPA on staff but we do bookkeeping, payroll, as well as taxes. I can assure you that CPA’s are not the only people qualified to prepare taxes. At Shmunky Bookkeeping and Admin Support, we embrace digital online bookkeeping. We want to offer…