Revenue is counted when it is received and expenses are recorded when they are paid. However, it can paint a very fuzzy picture of a business’s financial health and growth, especially given the long lag time between signing a contract and getting paid in the residential construction industry. For example, a firm that receives payment […]
Archive | Bookkeeping
Phoenix CPA Pros & Arizona Accounting Firm
Our understanding of the changing tax laws ensures that we determine the best opportunities for tax savings for both businesses and individuals. We make filing yearly tax returns easy for individual clients and help our small business clients select an entity that will bring the largest tax savings now and in the future. Our Phoenix […]
Am I eligible to apply for an individual taxpayer identification number? Internal Revenue Service
For a summary of those rules, please see the new Form W-7 and its instructions. USA.gov is the new centralized place for finding government benefits for health care, housing, food, unemployment, and more. ITIN holders can access their online account For more information see Allowable Tax Benefits in the Instructions for Form W-7 PDF. Official […]
Construction Bookkeeping: Essential Tools & Tips
This cloud-based solution has a base of user interface (UI) customizations, custom workflows, search tools and collaboration features. The next function layer is the Procore analytics feature that works with the specialized app marketplace filled with third-party solutions that integrate with Procore. The goal of the new set of rules is to offer a standardised […]
Credit Memo 14+ Examples, Format, Google Docs, Word, Pages, Pdf
Include a customer or memo tracking number for easy reference. A credit memo can be used by the customer to offset future purchases from the seller. The credit amount mentioned in the credit memo will be deducted from the total amount payable for the next purchase. In most countries, the indirect tax mandates the seller […]
Understanding a Balance Sheet With Examples and Video Bench Accounting
And “other assets” is the vaguest of all, typically including the value of things such as patents, goodwill, and other difficult-to-value items. With that in mind, we can see that Apple has a total of about $352.6 billion in assets on its balance sheet. Shareholders’ equity is the initial amount of money invested in a […]
