Bookkeeping

For example, it has 100 customers, but after assessing its aging report decides that 10 will go uncollected. The balance for those accounts is $4,000, which it records as an allowance for doubtful accounts on the balance sheet. The Pareto analysis method relies on the Pareto principle, which states that 20% of the customers cause […]

These solutions are easy to use, affordable, and perfect for busy sole traders juggling multiple roles. As a sole trader, you’re the only one who runs and owns your business. This means that you’re entitled to keep all the profits it makes after tax has been paid, but you’re also liable for all losses. FreshBooks

Automation features, such as automated bank reconciliations and customizable financial statements, simplify the day-to-day real estate accounting processes. Xero‘s accounting tools are especially useful for smaller businesses that want robust reporting capabilities but don’t want to deal with a complex learning curve. Depreciation refers to the decrease in value of a property over time due