Category Archives: Bookkeeping

Merritt Bookkeeping also lacks tax or consulting services, and its bookkeeping services are limited to account reconciliation and preparation of financial statements. Once again, we recommend Bookkeeper360 if your business needs those services. Its low flat-rate fee and 100% money-back guarantee are also attractive features. When should I hire a virtual bookkeeper? Most business owners […]

Merritt lets you review and adjust your reports through its user-friendly interface, so you don’t need to know how to use Quickbooks to access your financial information. Merritt also offers discounted catch-up bookkeeping in case you’ve gotten behind. It doesn’t provide payroll services or file taxes for you, but Merritt bookkeepers will communicate directly with […]

One of the key steps in planning for future obligations is to thoroughly analyze a company’s balance sheet, identifying both short-term and long-term liabilities. This enables decision-makers to prioritize their payments and allocate resources accordingly. Additionally, income taxes payable are classified as a current liability. The amount of taxes a company owes might fluctuate based […]

For example contingent liabilities can become current or long-term if realized. This kind of accrued liability is also referred to as a recurring liability. As such, these expenses normally occur as part of a company’s day-to-day operations. For instance, accrued interest payable to a creditor for a financial obligation, such as a loan, is considered […]

We can fix this issue by using QuickBooks Desktop Tool Hub since this is designed to help repair common issues you’re facing when working with your QBDT account. QuickBooks and Intuit are a technology company, not a bank. Banking services provided by our how to create a new company in quickbooks desktop partner, Green Dot […]

It is possible to calculate the break-even point for an entire organization or for the specific projects, initiatives, or activities that an organization undertakes. Therefore, it is essential for businesses to consider these factors in conjunction with the break-even point to make informed decisions. By analyzing the break-even point alongside other financial metrics, companies can […]

To do this, calculate the contribution margin, which is the sale price of the product less variable costs. The breakeven formula for a business provides a dollar figure that is needed to break even. This can be converted into units by calculating the contribution margin (unit sale price less variable costs). Dividing the fixed costs […]

Savings accounts are demand deposit accounts that typically have no fees attached. Interest rates on savings accounts are fixed and lower than interest rates available on time deposits. Both checking and savings accounts are accessible by the account holder through various banking options, such as teller service, online banking, and ATMs. Demand deposit accounts offer greater […]

You’ll need to meet the bank’s minimum requirements to open an account, including providing your personal information and making your initial deposit. Interest is an important thing distinguishing demand deposits from term deposits. Term deposits offer interest rates that are generally higher than DDAs’—much closer to prevailing market turbotax review rates. Think of a money […]

Savings accounts are demand deposit accounts that typically have no fees attached. Interest rates on savings accounts are fixed and lower than interest rates available on time deposits. Both checking and savings accounts are accessible by the account holder through various banking options, such as teller service, online banking, and ATMs. Demand deposit accounts offer greater […]