Bookkeeping

This means that $15 is the remaining profit that you can use to cover the fixed cost of manufacturing umbrellas. Also, you can use the contribution per unit formula to determine the selling price of each umbrella. That is, fixed costs remain unaffected even if there is no production during a particular period. Fixed costs are used in the break ... Read More »

Then, in September, you record the money as cash deposited in your bank account. Common prepaid expenses include rent and professional service payments made to accountants and attorneys, as well as service contracts. For the next 12 months, you will need to record $1,000 in rent expenses and reduce your prepaid rent account accordingly. The journal entry is completed this ... Read More »

It involves recording transactions and storing financial documentation to manage the overall financial health of an organization. Most businesses use an electronic method for their bookkeeping, whether it’s a simple spreadsheet or more advanced, specialized software. Although bookkeeping procedures can be extremely complex, all are based on two types of books used in the bookkeeping process—journals and ledgers. A journal ... Read More »

Unlike the free filing options the IRS provides through third parties or the free services from TurboTax and H&R Block, Direct File enables you to send sensitive financial information directly to the IRS — no middleman required. Taxpayers will also see important new updates to the “Where’s My Refund? These ongoing updates will allow taxpayers to see more detailed refund ... Read More »

It includes all the enhanced HR services that ADP has to offer. The plan also includes an enhanced HR help desk support with a designated team of HR Business Advisors, who are available for one-off questions and check-ins. The Essential plan is designed for startups and established companies that need basic payroll tools. ADP Check A service offered by ADP ... Read More »