Frequency of a year is the amount of time for the note and can be either days or months. Since notes receivable have a longer duration than accounts receivable, they usually require the maker to pay interest in addition to the principle, at the maturity of the note. manufacturing financial statements Interest receivable is recognized […]

When transactions are unreconciled, it allows for the correction of errors, adjustments for returned items, or changes in financial status. By unreconciling transactions, users can rectify discrepancies, update or edit transactions, and ensure that the financial data accurately reflects the organization’s current financial position. This can occur when a transaction was mistakenly reconciled or if […]

Properly managing these records allows nonprofits to meet the legal framework and operational best practices, which are essential for their sustainability and effectiveness in achieving their mission. If you’re involved in running a nonprofit organization, you understand the importance of maintaining accurate financial records. Effective bookkeeping is crucial for Accounting Services for Nonprofits: Benefits and […]

Our tax specialists offer holistic tax planning services tailored-made to your unique needs, allowing you to reduce your tax burden while maintaining a positive standing with the tax authorities. We examine your income, expenditures, and investment information to reduce your tax burden. We guarantee to maximize your cash flow, minimize late payments, and that your […]

Other software options, such as Procore, may be much more expensive than this due to their percentage-based fees on your job revenue. Sage was the standard accounting software for general contractors for a long time, but it’s lost popularity as other platforms have become available. It’s a more affordable option than some others, but that […]

This detailed guide helps you allocate resources efficiently, presenting a holistic view of operating costs and expenses. The annual nonprofit budget illustrates the financial objectives to be achieved over a year. It’s not just about balancing the books; it’s about creating a clear financial roadmap, a basis that aligns resources with mission-driven goals. A well-crafted […]