If you’re looking for an online bookkeeping service that can help you with the entirety of your business financial operations, Bookkeeper360 can do just that. In addition to its core
Read MoreContra Account: Definition, Types, and How it Works
Offsetting the asset account with its respective contra asset account shows the net balance of that asset. Instead of recording deductions as expenses, you track them separately to keep your
Read MoreFormats of Books of Accounts Explained
And if so, that means, the owner is not profiting from the business. It’s either the owner covers the expenses from their own pocket or from loan. You should only
Read MoreCash Flow Management Services: Ensuring Financial Stability
For example, offering social media ad account management on a monthly basis. Instead of depending on a few big clients to pay the bills, take on a larger number of
Read MoreChoose the Best Accountant for your Startup
Will you operate as a sole proprietorship, partnership, LLC, S corp, or C corp? This choice has significant implications for your tax obligations, so it’s not a decision to take
Read MoreBurn Rate Calculator: Calculate Your Monthly Burn & Runway
They’ll be the primary factors in guiding your ability to accurately and effectively calculate your net burn rate. Using the figures from our example in the previous section, the ending
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