Category: Bookkeeping

Unlock unparalleled efficiency and accuracy in your financial management with Treantly’s premier virtual assistant bookkeeping services. Businesses worldwide are now exploring innovative solutions for managing financial tasks. One standout solution is the virtual assistant for bookkeeping, blending remote work’s flexibility with professional accounting’s precision. And this is why being able…

Recording a financial transaction in your general ledger is referred to as making a journal entry. If you choose to use double-entry bookkeeping—and we strongly suggest you do! We’ll show you examples of how to record a transaction as both a credit and debit later on. After all, if you…

If you notice a previously exempt position no longer meets the 2020 salary minimum, you can either pay that employee FLSA overtime or increase his or her salary. When a salaried employee works more than 40 hours per week, you don’t owe any overtime pay as long as he or…

To determine the average number of days it took to get invoices paid, you must divide the number of days per year, 365, by the accounts receivable turnover ratio of 11.4. As a rule of thumb, sticking with more conservative policies will typically shorten the time you have to wait…

To determine the average number of days it took to get invoices paid, you must divide the number of days per year, 365, by the accounts receivable turnover ratio of 11.4. As a rule of thumb, sticking with more conservative policies will typically shorten the time you have to wait…

The going concern concept is extremely important to generally accepted accounting principles. Without the going concern assumption, companies wouldn’t have the ability to prepay or accrue expenses. If we didn’t assume companies would keep operating, why would be prepay or accrue anything? Retention of old customers and expansion through recent customer…

You can enroll in the Accounting Foundation course below to further learn about Accounting, other types of accounts, or even the 3 Financial statements and Financial models. Closing Entry is an important aspect of Accounting as it immensely affects the company’s financial records if done wrong. Closing Entry makes it…

Love the app. Super helpful to respond to texts away from the office. Super helpful to respond to texts away from the office. Super helpful to respond to texts away from the office. Love the app. Super helpful to respond to texts away from the office.