QuickBooks’ ability to streamline financial processes and save time is one of its most significant advantages. Automating tasks like invoicing, expense tracking, and payroll management frees up valuable resources that can be directed towards core business activities. This time efficiency translates into increased productivity and a more focused approach to achieving business goals. With QuickBooks, […]

Hiring a professional accountant or an outsourced payroll service is the easiest solution, but often the most costly. You will delegate most—if not all—of the payroll responsibilities to an accounting professional. Just be sure that your accountant has all the information they need to complete payroll on schedule. Ultimately, any software you use needs to […]

If you decide to invest your cash into a CD, you’ll need to make sure you understand how to account for the CD in your books. You should always check your CD terms as it could impact the way it’s presented in the financial statements. According to GAAP, a CD with a maturity date of […]

Usually, companies add to the accumulated depreciation account after every accounting period. In essence, contra-asset accounts have a negative balance while other asset accounts have a positive balance. Both of these accounts offset each other to represent a net balance on a company’s balance sheet. These accounts also help businesses track the gradual reduction in […]