Bookkeeping

In today’s digital landscape, software as a service (SaaS), businesses are rapidly growing and disrupting traditional industries. As SaaS businesses continue to expand globally, it’s essential to understand… Under the federal Protecting Americans from Tax Hikes (PATH) Act, the IRS cannot issue Earned Income Tax Credit (EITC) and Additional Child Tax Credit (ACTC) refunds before …

McCall Tax & Bookkeeping Services Personal Attention, Professional Results Read More »

The two platforms work together seamlessly, allowing you to effortlessly bill and invoice with FreshBooks, and automatically see that income reflected in your bookkeeping. Online bookkeeping services, also called virtual bookkeeping services, are a very affordable alternative to the traditional employee bookkeeper. To put this in perspective, a bookkeeper’s average salary is $44,527. The best …

7 Best Online Bookkeeping Services for Small Businesses Read More »

There are four types of contra accounts—contra asset, contra liability, contra equity, and contra revenue. Businesses leverage contra-revenue accounts to distinguish between net and gross revenue. While transactions may be recorded in one or more arrangements, the typical balance is a debit, contrasting with the usual credit balance in a standard sales account. Contra asset …

Contra Revenue Account: Definition and Examples in Accounting Read More »

Marginal costs can include variable costs because they are part of the production process and expense. Variable costs change based on the level of production, which means there is also a marginal cost in the total cost of production. The main type of variable expense is direct materials expense, since it increases as sales increase. …

Fixed vs Variable Expenses: What’s the Difference? Read More »