Bookkeeping

You can become a bookkeeping knowledgeable accountant yourself without really becoming a professional accountant. It takes three years of full-time study to earn this qualification, though you can take longer if you prefer to study at your own pace online. Specialisations like chartered accountancy and tax accountancy require further education and training. Important Accounting Skills Many employers and potential clients see CPAs as more qualified accountants, and there are some tasks, such as preparing an audited financial statement, that require a CPA designation. While requirements for CPA licensure vary by state, some qualifications are universal. Bureau of Labor Statistics (BLS), CPA candidates need a total of 150 semester hours of college coursework, which is about 30 ...[Read More]

You trust RobinsonWells bookkeeping services for a reason, and we owe you that. Confidentiality of every financial record, every audit and every cash flow report we make would remain personal till you order us otherwise. Maje Accounting offers a variety of services to make running a business in British Columbia easier, such as bookkeeping, tax filing services as well as Payroll management. Online bookkeeping is a perfect fit for small businesses, providing a cost-effective, efficient, and easily accessible way to manage financial records and stay organized. Each month, your dedicated bookkeeper organizes your transactions and prepares tidy financial statements. If anything needs a closer look, we’ll reach out directly—so you’re never left in the dark. Receivables Process When it comes to b...[Read More]

Mastering COGS recording is not merely about getting the books right; it’s a strategic skill that propels informed decision-making and financial robustness. Now, XYZ Fashion Store has a clear cost of goods sold journal entry figure to record as COGS for the year. This will be reflected on their income statement, and the $8,000 of remaining inventory will be carried over to the next fiscal year’s beginning inventory. The march towards greater precision in COGS can be significantly bolstered by implementing Inventory Management Tools (IMS). Such systems make tracking COGS a more accurate and less cumbersome process. Each inventory item is uniquely identified—often with barcodes or QR codes—allowing for pinpoint tracking throughout the inventory cycle. Be sure that you are valuing your invent...[Read More]

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