Blog

Essentially, net income represents the earnings retained after fulfilling the company’s financial obligations. Your net income, on the other hand, is what you have left after you subtract all of your eligible business expenses and estimated tax payments from your gross income. This is what the IRS will use to determine your tax liability for […]

Not to mention, the longer you keep inventory on hand, the more risk there is of obsolescence or damage. Then, the inventory management software alternative uses that information to build an optimal PO and calculate the ideal reorder point. When brands calculate their economic order quantity (EOQ), they only order the most cost-effective amount of inventory to […]

The election is made by capitalizing the expenses on a timely filed return (including extensions) and is revocable for that tax year only with the IRS’s consent (see Regs. Sec. 1.263(a)-4(f)). The notice tells the tenant the reason, the date that the tenant must move, and that a case will be started if the tenant […]

For example, they may get a black-and-blue after gently knocking their leg against a desk. Bruising occurs when there is an injury to tissues underneath the skin. This can damage blood vessels and causes blood to pool below the surface of the skin, leaving behind black, blue, purple, brown, green, or yellow marks. After several […]

We reviewed multiple accounting software options using a detailed methodology to help you find the 9 best online bookkeeping services for small businesses. Our ratings considered everything from pricing and customer reviews to the number and quality of features available and what our panel of experts thought about the services available. In addition, consider the […]

When you set up the integration between QuickBooks Online and Shopify, you can choose to transfer historical data. This includes past sales transactions, customer information, and product details, ensuring a complete record in QuickBooks Online. This includes income statements, balance income statement definition sheets, and cash flow statements. You can also generate reports to track […]

This can be confusing, but we’ve tried our best to show you how simple these processes can actually be. We’ve tried to put this pack together in a way which caters to a broad scope of accounting needs. At the end of your fiscal classified balance sheet financial accounting year, you will be looking at […]

Intuit QuickBooks Online has four plans that can accommodate small, midsize and large businesses. New users can choose between a 30-day free trial or a three-month 50% discount. If you choose the free trial, note that QuickBooks requires a credit card to sign up. QuickBooks Online pros and cons Let us know how well the […]