Category: Bookkeeping

Invoice discounting is a type of invoice financing where a business retains control over collections and customer relationships. Instead of selling invoices outright to a financing company, the business borrows against the value of its unpaid invoices, using them as collateral to secure a loan. The lender advances a percentage of the invoice value upfront,… Continue reading Invoice Factoring: What It Is and How to Use It

Compare features, pricing, and expert reviews for your business software needs – all in one place. Our partners cannot pay us to guarantee favorable reviews of their products or services. Kelly Main is a Marketing Editor and Writer specializing in digital marketing, online advertising and web design and development. Quickbooks certified proadvisor elite team After… Continue reading Catch Up Bookkeeping Services Bench Accounting

References to federal income tax withholding don’t apply to employers in American Samoa, Guam, the Commonwealth of the Northern Mariana Islands (CNMI), the U.S. Virgin Islands (USVI), and Puerto Rico, unless you have employees who are subject to U.S. income tax withholding. Contact your local tax department for information about income tax withholding. In general,… Continue reading What Are the Differences Between IRS Form 940, Form 941 and Form 944 Employer Services Insights

In this section, we’re going to learn how to figure out something called the contribution margin. This is a really important number that tells a company how much money is left after paying for things that change in cost, like materials to make a product. For a quick example to illustrate the concept, suppose there… Continue reading All about the contribution margin income statement

In this section, you specify who will receive funds from your checking account. Write the name of the person or organization that you wish to pay, also known as the payee. Only the payee is allowed to deposit the check, cash it, or endorse it to someone else. But once you understand the different parts… Continue reading Account Number Overview, How It Works, and Protecting It from Fraud

However, the controller may not do direct accounting themselves, and there is a difference between accounting and controlling. In financial management, controlling is the act of ensuring data is recorded accurately and on time. This is a broader function of accounting, as the controlling function may go behind recording transactions. So, chief accounting chief accounting… Continue reading Accountant vs Controller: What’s the Difference?