Bookkeeping

Equity transactions, such as issuing shares or retaining earnings, are recorded in permanent accounts. Temporary accounts are recorded on a company’s income statement, which assesses profit and loss over a stretch of time. Temporary accounts provide a brief overview of income and expenses during a specific period. By following these steps, temporary accounts are closed, […]

An increase in long-term liabilities can happen when a company raises funds for capital investments or expansion projects. Keeping a keen eye on the trends and shifts in long-term liabilities is crucial when analyzing a firm’s financial status. From there, understanding how that balance sheet either helps or hinders a company’s progress will help you

The income statement of a mid-size corporation with sales of $24,340,290.88 might report $24,340 and the notation (In thousands except per share amounts). For example, the income statement of a large corporation with sales of $8,349,792,354.78 will report $8,349.8 and a notation such as (In millions, except earnings per share). Except for small companies, the

Knowing the overhead cost per unit allows the business to set competitive pricing while still covering their indirect expenses. Rather than lump overhead costs into one expense account, businesses should allocate fixed and variable overhead to departments. Calculating overhead rates accurately is critical, yet often confusing, for businesses. Based on the above information, we must

Many companies choose automated payroll software, which pay stub definition handles calculations, deductions, and formatting automatically. Larger businesses sometimes outsource payroll to specialized providers who manage the entire process on their behalf. Regularly reviewing pay stubs helps employees spot mistakes early, and it allows employers to correct issues before they become serious compliance problems. What

Just like other businesses, freelancers must generate at least the Big 3. This helps you understand how much you are actually spending to operate your business. The first step to planning a budget is separating your personal and business expenses. When talking about bookkeeping for freelancers, invoicing is probably one of the most important tasks.

While we work with all sizes of companies, we remain one of the leaders in being the go-to bookkeeper for small businesses. Our goal is to give you the peace of mind knowing that the financial reports are accurate, on time, and come with financial insights that can help your business grow. While traditional bookkeeping

Their easy-to-use advanced software and expert team members help maintain accurate financial records. Profitline offers a comprehensive suite of outsourced accounting and bookkeeping services in New York,  accessible from any part of the country, for tech companies. Get in touch with one of our consultants now to explore how services can enhance your business’s financial