Categoría: Bookkeeping

Still, employers that would have been most affected by the Biden DOL’s now-halted overtime rule should be aware that the “duties tests” for exempt status still apply. For instance, assume your withholding was calculated based on a regular annual salary of $50,000 but you earn an extra $5,000 in overtime. If your employer did not…

The accounting cycle refers to the specific steps used to complete the accounting process and maintain an organization’s financial records. Learn the definition of the accounting cycle, and explore the process, including its 10 basic steps, and how when they are done a new accounting period begins. Other operating risks against which an organization can…

Consider a scenario where a project is 50% complete and has incurred 40% of the expected costs. Segregation of duties means that different employees are responsible for different aspects of the bookkeeping process. For example, one employee may be responsible for recording financial transactions, while another employee is responsible for reconciling bank statements. The quick…

By utilizing Fourlane’s unrivaled bookkeepers near me experience with the leading bookkeeping and ERP software, Fourlane is able to help your business stay organized, focused, and prepared for the future. We’ll dedicate a bookkeeping services team to your business, and provide insightful solutions to your most important financial system challenges. Bookkeepers near you are a great…

This type of data is valuable to criminals and they are always looking for insecure points of entry. To reduce the risk of a security breach when you outsource, make sure the partner you choose has strict security measures in place. For example, they should comply with data protection laws such as the GDPR. Choose…

In double-entry bookkeeping, the left and right sides (debits and credits) must always stay in balance. The journal entry includes the date, accounts, dollar amounts, and the debit and credit entries. You’ll list an explanation below the journal entry so that you can quickly determine the purpose of the entry. In double-entry accounting, debits (dr)…