Category: Bookkeeping

Each payment reduces the principal owed, and interest is recognized as an expense. Notes payable are formal contracts with promissory notes detailing loan terms like principal, interest, and repayment schedules. AP, on the other hand, relies on informal agreements, such as invoices, for routine expenses. It comprises information related to the amount paid, applicable interest […]

It’s incorrect to assume that finished goods for one company would also be classified as finished goods for another company. For example, sheet work in process plywood may be a finished good for a lumber mill because it’s ready for sale, but that same plywood is considered raw material for an industrial cabinet manufacturer. The […]

Make sure you get everything to your accountant sooner rather than later, so they’ve got plenty of time to get your tax return done on time. You could even consider asking your accountant to let you know when they’d like to receive the information from you. There are a lot of deductions you might be […]

I have been extremely satisfied with the services I have received from Sara. She is knowledgeable, super helpful, timely and so patient with me. I feel confident knowing that she is handling my account. I am grateful to have found Aenten for my bookkeeping and tax needs. Focus on your business and let Aenten handle […]

Independent contractors need to manage their self-employment taxes. They must also report their income and expenses differently than employees who receive W-2 forms. The payer takes the information from Form W-9 to make and send reports, such as Form 1099-NEC, to the IRS. These forms usually need to be submitted by January 31st, the year […]

FreshBooks is an accounting software designed to help small businesses manage their financial tasks. The tool is particularly useful for businesses that need a straightforward solution without complex features. With accounting software for car dealerships from FreshBooks, the dreaded task of invoicing and bookkeeping not only becomes bearable but enjoyable. Consistent financial reporting helps build […]

However, it can quickly become overwhelming if you need to fill out multiple receipts in a day. The first thing you should do before writing an as-is bill sale is to check your states’ requirements. As-Is bill sale can be needed in various situations, generally in those situations in which something is being sold or […]