Bookkeeping

On the other hand, petty cash is usually kept with a designated custodian or bookkeeper as they are held responsible for keeping accurate records of all transactions made from the fund. While petty cash facilitates quick payments for small expenses, it also contributes to streamlining reimbursement processes. Instead of burdening employees with out-of-pocket costs, a […]

They bring a professional touch without the need for extensive training. Handing off bookkeeping tasks means more time for you to focus on growth strategies, client relations, or simply taking a breather. Not only do they save you time, but they also reduce the burden of financial management, giving you peace of mind. Virtudesk is

This process will give you the depreciation tax shield, which should theoretically increase a company’s valuation by having a positive impact on free cash flows (FCFs). By using the depreciation tax shield, businesses can reduce their taxable income and lower their tax bill. This can be especially helpful for businesses with high asset costs, as

The next and final step in the accounting cycle is to prepare one last post-closing trial balance. On the balance sheet side, closing entries move everything into retained earnings, which is a permanent account. These examples show how crucial closing entries are for keeping your accounting records accurate and organized, no matter the size or