Bookkeeping

A formal employment agreement is not technically necessary from a legal standpoint. Most employees do not have written agreements, but it is always better to have one that sets out roles and responsibilities, payment and other important aspects of the…

If you hire self-employed bookkeepers from another country, you can also experience major cost differences. For example, a freelance bookkeeper located in India or other low-cost countries can charge less for their services compared to an independent bookkeeper in Europe…

The U.S. Securities and Exchange Commission (SEC) requires publicly traded businesses to follow a set of generally accepted accounting principles, or GAAP. Accrual-based accounting conforms to GAAP, but cash-based accounting does not. If your company isn’t publicly traded, you won’t…

As you sell items or services on credit and your business grows, you or your bank might need to document your revenue and expenses using accrual accounting. Accrual accounting provides a clearer picture of the health of a company because…