Small business accounting basics: A quick guide

On top of that, the PayPal app doesn’t always bring all of the data into QuickBooks, making it hard to reconcile. This is especially frustrating for e-commerce transactions and high volume transactions....

7 Best Outsourced Bookkeeping Firms for 2024

They work closely with the business owners and managers, and communicate and collaborate with them through various channels, such as phone, email, chat, etc. Outsourcing accounting allows small businesses to utilize advanced...

Charging Interest on Unpaid Fees or Disbursements

Businesses must report these fees accurately to comply with tax regulations and avoid potential penalties. The prepaid nature of retainer fees can lead to a temporary discrepancy between the income reported for...

Accounting & Tax Documents Lexika

Income statement items are typically translated at the average exchange rate for the period, smoothing out exchange rate fluctuations. This method is especially helpful for subsidiaries in hyperinflationary economies, as it mitigates...

Year End Tax Information Human Resources UMass Lowell

Content W-2 Wage and Tax Statement Explained Box 3: Social security wages Is Box 14 on W-2 taxable? Is code W on W-2 deductible? What is considered W-2 income? The IRS recommends...