Bookkeeping

Bookkeeping for Portland and Vancouver Businesses

You might choose to use document management software to keep track of key financial information and statements. You’ll want to periodically back up your files and ensure that you’re adhering to security protocols so your information isn’t compromised. For example, if you need to save a copy of a document separately from other files you …

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What Is Goodwill in Accounting: An Explainer

Practice goodwill refers to the amount of goodwill specifically for practices, such as a law firm. Practice goodwill is similar to business goodwill as it considers the practice’s overall value. Goodwill, in general, is typically referred to as business goodwill as the two terms are often used interchangeably. Impairment tests are also required if certain …

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What Is Bookkeeping? Everything You Need To Know

Bookkeepers can be certified in various financial platforms, such as QuickBooks, or via training programs. You can also choose to become a certified public bookkeeper to market yourself better as a bookkeeping professional. The accrual basis method, which is favoured under the generally accepted principals of accounting, record income in the accounting period in which it is …

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Accounts Payable Outsourcing: Here’s What You Need to Know

The accounts payable department is responsible for managing any invoices or due payments for vendors and suppliers the business works with to provide material, products, services, or other goods. If your current accounts payable process has considerable cash leaks or issues, moving to outsourced AP may improve budget optimization even after the cost of service …

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