Bookkeeping

He can’t record the entire expense when it is paid because some of it was already recorded. While you record reversing entries at the beginning of the month, it is possible to have an accrual that you do not immediately reverse. Make note of this each month until you do reverse the entry, as this…

All depreciable assets are fixed assets but not all fixed assets are depreciable. For example, land is a non-depreciable fixed asset since its intrinsic value does not change. Although you can’t use the units of production depreciation method to calculate your tax return, it’s one of the four methods of depreciation allowed for GAAP. It…

Working with a certified construction bookkeeping bookkeeper or accountant specializing in construction accounting can greatly benefit your business. These experts possess in-depth knowledge and expertise in handling complex financial responsibilities such as job costing, payroll taxes, and reporting. Among the most popular platforms are Procore and Sage 100 Contractor, which offer a wide range of…