Keep in mind that this estimator assumes all income is from wages, assumes the standard Bookstime deduction, and does not account for tax credits. The new Oregon child tax credit, known as the “Oregon Kid’s Credit,” is worth up to…
Forbes Advisor researched the best construction accounting software on the market to help you find the right solution for your business. Construction bookkeeping services like software make expense recording easier, though some opt for recording bills in a comprehensive journal.…
High vacancy rates can significantly impact cash flow as there is no rental income during these periods. Investors should consider the local rental market, demand for the property type, and the property’s desirability when assessing potential vacancies. Vacancies, tenant churn,…
By addressing these challenges proactively, construction companies can streamline their bookkeeping processes and focus more on delivering successful projects. Construction bookkeeping presents unique challenges that can complicate financial management. Understanding these hurdles and how to address them can significantly improve…
Professional bookkeepers also keep up to date with changing tax laws, ensuring your business is always in compliance and avoiding penalties. Change orders are common in construction projects and not tracking them properly can lead to discrepancies in costs and…
Try FreshBooks for free to streamline your tax preparation and bank reconciliations today. The first entry records a debit to the cash account and a credit to the bank reconciliation account. Once all differences have been identified and adjusted, it…
