Retained earnings represent the percentage of net income that is not paid out as dividends, but instead is kept "in-house" by the company. This money can be used to reinvest in the company or to pay off any debts the company may have.
Read MoreEvery business owner needs a way to track their financial transactions and their cash flow. If they don't, they might end up running into problems. Some business owners choose to keep it super simple and use a simple cash book system. Other businesses prefer to use accounting software and include that as part of their bookkeeping system.
Read MoreA comparative balance sheet shows the status of an organization's assets, liabilities, and net worth at two different periods, for example, at the end of two fiscal years.
Read MoreA bank reconciliation is an important part of maintaining accurate records for many businesses. By regularly comparing internal financial records with bank statements, accounting teams can catch errors and prevent them from happening in the future.
Read MoreAs a business owner, you know that keeping track of your finances is crucial to your success. You also know that maintaining accurate financial records can be time-consuming and difficult. QuickBooks and bookkeepers can help take some of the burden off of your shoulders by keeping track of your income and expenses and preparing your financial reports.
Read MoreWhile paying your employees might seem a task that's super easy to do, the reality is that payroll is quite a challenge. One wrong move and your employees will be left unhappy. In fact, you can even get in trouble with the IRS if you don't do payroll properly, and with so many mistakes that can happen, this might just be the outcome if you aren't prepared.
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