Bookkeeping Essentials For Construction Companies
If you’re a sole proprietor, you can use your personal bank account and don’t need to obtain an EIN from the IRS. Starting your own landscaping business requires some basic equipment, knowledge, and most importantly passion. Every week we’ll keep your bookkeeping up to date, done to perfection, while building the foundation to scale & […]
Construction Accounting Software by FOUNDATION®
Ideal debt-to-equity for most companies is between 1 and 2, and companies with a debt-to-equity ratio higher than 2 may be unable to pay off its debts. On the other hand, a company with a debt-to-equity ratio of less than 1 may not be using enough debt financing to take on new projects and grow. […]
Healthcare payment reconciliation: From Chaos to Clarity: Business Lessons from Healthcare Payment Reconciliation
With a well-designed automated reconciliation system, your organization can standardize its reconciliation processes, eliminate errors, and reduce write offs. When reconciliation issues arise, they usually result in unposted payments that challenges a clear picture of cash flow and revenue for your practice. This places financial reporting and projections and an accurate understanding of its financial […]
Guide to Sole Trader Bookkeeping
Many accounting and bookkeeping software exist to help you keep track of bank records if you are a sole trader. QuickBooks is one of the most comprehensive accounting software packages available, offering a sole trader plan which will calculate taxes owed. It has various income and expense tracking features as well as invoicing and reporting […]
What is Accounts Payable AP? Definition, Journal Entries, Examples
The ending cash balance in March is the beginning cash balance in April. Review your company’s balance sheet and analyze each asset and liability account to determine the impact on cash flow. To help illustrate how accounts payable journal entries work, let’s look at five examples of when you’d make a journal entry and what […]
How to Calculate Accounts Payable Days AP Days Formula
These transactions would then increase the credit balance of your accounts payable, so by paying your suppliers in cash, your accounts payable balance will get reduced. Your company is paying slowly to its suppliers if its accounts payable turnover ratio falls relative to the previous period. This falling trend in the accounts payable turnover ratio […]