Your company isn’t big enough to have company credit cards yet, and you’re big on keeping personal and business expenses separate. As managing petty cash is part of your accounting and bookkeeping processes, it’s important to reconcile petty cash regularly (at least...

Ability to accept online credit card and bank payments within invoices using Wave Payments . Having shifted from an entirely free model to a tiered pricing structure, Wave now offers the free Starter plan and the paid Pro plan at $16/month. This change sparked...

Failure to complete this filing can result in your corporation being dissolved. Taking a proactive approach, preparers should ask relevant questions and request comprehensive documentation to substantiate compensation decisions. Staying informed about IRS expectations...

Certificates, use firewalls and intrusion detection systems and regularly update software. The standard structure is hierarchical, with data segments being grouped into loops, which are subsequently grouped into functional groups. The plus (+) sign is typically used...

If you are an employee, you must generally complete Form 2106 to deduct your travel and transportation expenses. If your return is examined, you may have to provide additional information to the IRS. This information could be needed to clarify or to establish the...

When the retained earnings balance is less than zero, it is referred to as an accumulated deficit. The retained earnings are calculated by adding net income to (or subtracting net losses from) the previous term’s retained earnings and then subtracting any net...

Manufacturing overhead is projected to be $0.50 per unit variable and fixed overhead $45,000 per quarter. The budget is also used to evaluate the actual results achieved during the time period covered by the budget. Performance evaluation involves comparing the actual...

Just as biological entities balance their resource allocation to maximize lifespans, companies must allocate dividends carefully to endure market fluctuations. Investors should be prudent and look for dividend strategies that indicate sustainable practices and...