Bookkeeping

Accountants need to record the revenue base on the matching principle. As the cost of service is mostly the payroll, so they are already recorded into the income statement. So we have to record the revenue as well, but the invoice is not issued, so we record it into unbilled…

A purchase ledger, also known as a creditors ledger or accounts purchase ledger payable ledger, is a subledger within the accounting system that records all purchases made by a business on credit. It serves as a detailed record of all amounts owed to suppliers, vendors, and creditors for goods or…

In short, the double-entry method requires making 2 entries to a general ledger to record each transaction. Therefore, the payroll needs to adapt to the changing site conditions and other requirements on the go. With these important considerations out of the way, let’s look at how it all seeps into…

Freelance accountants face several stressful situations in their work. Freelance accounting is a growing field, and many 7 things to do before applying for a business loan people enjoy it as a career because of its potential for flexibility. You may also have to log payments and expenditures, including payroll,…

In general, states encourage employers to have internal handbooks with policies in place. Employers can check out state payout conditions in this article; however, we suggest that you check with your state labor board to get current information. The vacation pay calculator will determine how much you are owed in…

Moreover, the integration of advanced accounting technologies has transformed the way financial data is managed in construction. Software solutions enable real-time tracking of project costs and facilitate better communication among project teams. As the construction industry continues to evolve, the importance of robust accountancy practices will only grow, highlighting the…