If you have received moneys associated with the Paycheck Protection Program, it is probably a wise thing to invent a temporary bookkeeping system and process to distinguish all financial activities associated with/utilizing these funds from the rest of your bookkeeping system. That way there can be no doubt that you can prove your PPP expenses/activities
Read MoreIt is highly recommended to never fall more than three months behind in your bookkeeping. Case In Point: The recent COVID-19 outbreak has slowed down the economy and thus has caused a lot of small businesses to file claims for Disaster Relief and Paycheck Protection coverage. However, like any other request for business financial assistance,
Read MoreMy client, Amelia, is a sole general contractor and has hired AccuraBooks to maintain the bookkeeping for her sole long-term construction contract. Each month Amelia receives funds from her client to pay for her administrative/management fees and also pre-payments (deferred income) for upcoming job labor and materials expenses. For her bookkeeping, Amelia does NOT
Read MoreEvery once in a while, a current client will communicate to me their possible desire to make a bookkeeping platform switch, either as a temporary or permanent solution. For temporary solution purposes, the client may want this to be able to provide or have access to their books due to sudden needs arising from, perhaps
Read MoreMy client, Sophia, has recently obtained mortgage refinancing for two of her properties and has asked AccuraBooks (her current bookkeeping service provider) to make these entries into the bookkeeping platform. In particular, Sophia was able to close out (pay off) the old loan and obtain a much higher loan as part of the terms for
Read MoreManually booking your Amazon sales begins with logging into your Amazon Seller account and downloading those bi-weekly PDF revenues settlement statements. These are the statements notifying you of your detailed split out summarized revenues activities for the period of time and when to expect a bank transfer payment from Amazon. These statements outline the following
Read MoreRecently I was hired on by my client, Maria, to take over the bookkeeping for her home design and remodeling company. There was an enormous amount of bookkeeping catchup and cleanup needed for her company because Maria had not had a bookkeeper nor maintained most of the bookkeeping for the past four months. After catching
Read MoreJob-Costing is way of allocating certain income and expenses to particular customer jobs that your company has performed work for. So, instead of allocating income and expenses ONLY to your business-wide profit & loss statement, your income/expense data can ALSO be allocated to specific customer jobs. You do this extra step in your bookkeeping to
Read MoreMy client Donna wants all of her paper investments, such as certificates of deposits, mutual funds and IRA’s, tracked in her QuickBooks financial software. Normally people use more specialized personal bookkeeping software, such as Quicken, to track all of their investment activities, simply because Quicken can normally be tapped in to automatically update your investment
Read MoreMy client, Emma, has recently sold all of her accounts receivables to a lending institution in lieu of a business loan. Basically all of my client’s customers will now have to send in payment to this lending institution and, in turn, the lending institution will disburse these discounted funds to my client. Emma has hired
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