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Introduction Unpaid bills reports consist of all bills that have not yet been settled for a specific date range for the report. The report is very similar to the account payables detail report, with the latter having group invoices indicated…
Introduction QuickBooks Online (QBO) is essential software for all businesses, irrespective of their sizes. There are four QBO versions available in desktop solutions: QuickBooks Pro, QuickBooks Premier, QuickBooks for Mac, and QuickBooks Enterprise Solutions. The software offers affordable, customizable, and…
1099 Vendor As a small-scale entrepreneur, you constantly make compensation for services or goods to either your employees or your vendors. When you are dealing with the 1099 vendor, the compensation is termed as 1099 payments. Therefore, for your business’s…
Independent Contractors Vs. Employees The distinction of “independent contractor” and “employee” is significant to any entrepreneur irrespective of the company size. The entrepreneur or human resource manager can effectively issue the W-2 or 1099 (the Internal Revenue Service well defines…
Expense Reimbursement Policy The expense reimbursement process takes care of the out-of-pocket expenses incurred by your employees while running business errands. When the employees are reimbursed, the compensation is not classified under wages or income. Some of the common out-of-pocket…
On the balance sheet, the account payable is listed under the current liabilities. What is Accounts Payable? Accounts payable refers to the cash due to the suppliers or vendors for the supplied goods and services that have not yet been…
Introducing: QuickBooks (QBO) If you do a search for “Small business accounting software” you will find an uncountable number of references to QuickBooks Online (QBO), developed by Intuit. QuickBooks Online is geared toward small and medium-sized businesses and comes in…
Accounting? Bookkeeping? CPA? Don’t know the difference? After this read, you will. Certified Public Accountant (CPA) refers to a trusted financial accounting professional that focuses on individual and organizations’ financial planning and goal attainment. CPAs: prepare financial statements, plans and…
Who needs bookkeeping services? You do! Bookkeeping refers to the documentation, categorization, and organization of all of a business’s financial transactions. This majority of transactions are usually done in the form of Accounts Payable (paying bills), Accounts Receivable (getting paid),…
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