Category Archives: Bookkeeping

If assets increase, either liabilities or owner’s equity must increase to balance out the equation. The balance of the total assets after considering all of the above transactions amounts to $36,450. It is equal to the combined balance of total … Continue reading →

In the context of nonprofit accounting, budget planning plays a crucial role in ensuring an organization’s financial stability. A nonprofit budget serves as a guide https://greatercollinwood.org/main-benefits-of-accounting-services-for-nonprofit-organizations/ for both short-term and long-term planning by outlining the expected expenses and revenue for … Continue reading →

Having complete and accurate documents will help your auditor check data and complete an audit quickly. A timely income summary audit helps your business avoid costs you would have incurred if the auditor had needed extra time going through your … Continue reading →