Category: Bookkeeping

A company remains a going concern when the sale of assets does not impair its ability to continue operation, such as the closure of a small branch office that reassigns the employees to other departments within the company. Going concern is an accounting term for a company that has the resources needed to continue operating indefinitely…

As with performing payroll functions in-house, applicable taxes must be withheld by the provider before payments are made. Outsource some or all HR tasks and opt for a partner that is an extension of double entry bookkeeping system your current HR staff. We can handle hiring, engagement, employee issues, payroll, benefits, compensation, talent, compliance and…

Once within the Reconcile Page, identify and choose the specific bank account for which the reconciliation undo process needs to be initiated in QuickBooks Online. After selecting the account, locate and click on the designated ‘Undo’ button within the interface of QuickBooks Online to initiate the reconciliation adjustment process. Reconciliation in QuickBooks Online is the…

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To close expenses, we simply credit the expense accounts and debit Income Summary. Notice how only the balance in retained earnings has changed and it now matches what was reported as ending retained earnings in the statement of retained earnings and the balance sheet. Prepare the closing entries for Frasker Corp. using the adjusted trial…

Its flexible offerings, modules, and pricing models fit the requirements of any small, mid-, and enterprise-level company. Trawex creates an ideal platform for travel companies to become cost-effective with its multiple automated features. Travel Accounting Software can give you a seamless experience with managing your travel company’s entire accounts & finance. It’s not always good…