Why Do People Get Angry When They Drink
They assessed 70 participants who were divided into two groups. They were directed to engage in a task with the potential to trigger aggressive verbalizations, with those who consumed alcohol showing significantly more such behavior. The answer may lie in social expectations that allow formore aggressive behaviors by drunk people. If you live with an […]
Read More →Reconcile an account in QuickBooks Online
Schedule reports to be generated and emailed daily, weekly, or reconciling invoice payment transactions vs bank deposit transactions monthly. If you reconciled a transaction by mistake, here’s how to unreconcile it. If you adjusted a reconciliation by mistake or need to start over, reach out to your accountant. Step 3: Begin Matching Transactions The Ascent, a […]
Read More →Construction accounting 101: An expert guide for contractors
For illustration, a construction business may need to juggle multiple projects, each with a beginning, middle, and end. Conversely, a retail store may have continuous operation throughout the year. For example, a construction company may need to move equipment and labor every few days or weeks from site to site. To account for these expenditures, […]
Read More →Bookkeeping for Construction Companies: An Essential Guide
Unlike the previous method of recognizing revenue, the percentage-of-completion method allows contractors to recognize revenue as they earn it over time. Preferred by many construction contractors, the completed-contract method allows them to defer taxable revenue for the current year if the contract is set to be completed within the following tax year. Next, we explore […]
Read More →What is an IRS 1099 Form? Definition & Form Differences Intuit TurboTax Blog
If you earned $10 or more in interest from a bank, brokerage or other financial institution, you’ll receive a 1099-INT. You might receive one Form 1099-A if your mortgage lender canceled some or all of your mortgage, or you were involved in a short sale of your home. Canceled debt is income in the eyes […]
Read More →Reconciling Account Overview, Process, How It Works
This helps uncover omissions, duplication, theft, and fraudulent transactions. For example, the internal record of cash receipts and disbursements can be compared to the bank statement to see if the records agree with each other. The process of reconciliation confirms that the amount leaving the account is spent properly and that the two are balanced […]
Read More →The Ultimate Tax Checklist to Help You Prepare for Taxes
Unfortunately, the IRS doesn’t take tardiness or failure to pay lightly. To keep your business cash flow in good shape, consider creating a tax calendar. However, staying prepared year-round can help make filing easier when tax season comes around. We’ve compiled the essential steps you need to follow to streamline your small business tax prep […]
Read More →What is Vertical Analysis? Process & Examples
Hence why it’s called vertical analysis – you add your calculations vertically next to each item. Since these proportions are expressed as percentages, you can easily compare them to other time periods or other companies. In this article, you will learn about the vertical analysis of financial statements and how to incorporate it into your […]
Read More →The Complete Guide to Independent Contractor Taxes
If you created a single-member LLC, you should register for an EIN to avoid sharing your Social Security Number (SSN) or individual taxpayer identification number (ITIN) with clients. The U.S. government has been cracking down on independent contractor classification in cases where workers could be treated more like employees. There are a number of business […]
Read More →Back Office: What It Means in Business, With Examples
Another important benefit of back-office outsourcing services is that businesses get access to the newest technological resources, top-of-the-line services, and skilled professionals. Third-party outsourcing providers emphasize delivering support with the most recent technologies and providing continuous training to their employees. Because back-office work does not involve customers or clients, it can be outsourced to back […]
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