Category: Bookkeeping

This should detail what you plan to do over the next three years to grow your business and get — or stay — profitable. Investing in your business — or having sporadic income because of the industry you’re in — does not make it a hobby. This means a hobby with no write-offs might even…

Not sure where to start or which accounting service fits your needs? Our team is ready to learn about your business and guide you to the right solution. Abacus has been the most reliable bookkeeper that I have worked with as a CPA. They have consistently provided good service for my clients, as well as…

Once configured, employers can process payroll in a matter of minutes, with funds available in employees’ accounts on payday. Wire transfers are a popular method of EFT that allows for immediate transfers of funds between financial institutions. Unlike other EFT methods, wire transfers can be executed almost instantaneously, making them an ideal choice for high-value…

Make sure everyone assigned to the project understands what is billable work and what is not. To sum up, let’s look at the core differences between billable and non-billable work as well as what those mean for your team and business overall. A quality platform like Toggl Track should also include robust training resources to…

This document can help ensure you don’t end up overpaying on taxes or facing legal repercussions down the line. In this article, we’ll explain what W-8 forms are, who needs to fill them out and how to do so correctly. US businesses must collect W-8 forms to avoid paying excessive withholding taxes and comply with…

Calculating Full-Time Equivalent (FTE) is crucial for organizations to assess their workforce capacity accurately. The full-time equivalent is an indicator that answers many of the questions Human Resources departments need answers to. This, therefore allows them to make better decisions regarding personnel management. So, with all the previous steps in mind, let’s calculate the actual FTE…

Also, in cases where the auditors are not confident about in-house data, they must seek confirmation from higher management and senior leadership to ensure that numbers in the financial reports reflect credibility. The full disclosure principle accounting also helps creditors, debtors, and other stakeholders have a clear view of the organization’s financial health. The disclosure also…

This type of PP&E (Property, Plant, and Equipment) expense supports day-to-day functions and allows for smoother scaling as client demands increase, reducing operational risks and improving service delivery. Many organizations will find a CapEx-to-asset value of less than one adequate as the price/performance ratio of different technologies improves. While this metric provides a gross measure…

Families and businesses depend on PSE to provide the energy they need to pursue their dreams. Our steadfast commitment to serving Washington communities with safe, dependable and efficient energy started in 1873. Today we’re building the Northwest’s energy future through efforts like our award winning energy efficiency programs and our leadership in renewable energy. With…

By securing a professional’s services over an extended period, clients often feel a greater sense of commitment and investment in the relationship. This long-term engagement allows the professional to gain a deeper understanding of the client’s needs and business, leading to more tailored and effective solutions. For the service provider, this ongoing relationship can result…