The Essential Plan offers cash-basis accounting and starts at $300 a month. The Growth Plan is the next plan up, includes accrual-based accounting and starts at $900 per month. You also have the option to build a Custom Plan that offers controller support, and fractional CFO services. There are several online bookkeeping services available, but…

Retained earnings are therefore an accounting entry which acts as a reserve for unallocated earnings, pending arbitration. There’s almost an unlimited number of ways a company can use retained earnings. Shareholders, analysts and potential investors use the statement to assess a company’s profitability and dividend payout potential. Retained earnings act as a reservoir of internal…

The balance sheet previews the total assets, liabilities, and shareholders’ equity of a company on a specific date, referred to as the reporting date. A balance sheet is a financial statement that shows the relationship between assets, liabilities, and shareholders’ equity of a company at a specific point in time. Most of the information about…

It’s a crucial step where journal entries are transferred to the general ledger. Posting ensures each transaction is accurately recorded, maintaining the integrity of financial records. While modern accounting software streamlines the process, the principles of double-entry bookkeeping remain essential. Mastering posting is key to keeping your business finances in order and producing reliable financial…

You also save on investing in new technology and automation solutions as your outsourced AR partners can support you. Choosing the right solution for managing your accounts receivable can significantly impact your business’s financial health and customer relationships. Offering a blend of automation and human touch, ReliaBills provides an efficient and seamless way to manage…

The CO—100 is an exclusive list of the 100 best and brightest small and mid-sized businesses in America. CO—is committed to helping you start, run and grow your small business. Learn more about the benefits of small business membership in the U.S. recession-proof business ideas Fido will not get neglected during a recession, as people…

Explore our top picks for general contractor software covering bid management, document control, and project management. You can better determine the most profitable new jobs by understanding the expenses of completing each project, such as job costs and overhead. How Construction Bookkeeping Services Can Streamline Your Projects Keep expenses down and finish the project within…

(We know—the fun never ends!) This determines how often employees are paid, giving them consistent and timely payments, and allowing you to reliably plan your finances andkeep your team happy. Payroll schedules are typically either weekly, bi-weekly, semi-monthly, or monthly. You’re free to select whichever interval works best for your business, as long as it…

When expenses are categorized incorrectly, companies may face missed compliance deadlines, misreporting, or costly audit complications. Properly coded expenses lower these risks by ensuring financial data is consistent, reliable, and compliant with regulatory standards. AP automation software uses AI technology to code invoices automatically, reducing invoice processing costs, improving accuracy, and reducing hiring needs. Holistic…

Reinvesting profits back into the business can help it expand and become more successful over time. In some cases, a company’s negative retained earnings may result from underlying problems with the business model or operations. In these cases, it may be necessary to restructure the business to align with market demand and improve efficiency. Part…