Category: Bookkeeping

Remember it is all about finding the right law firm bookkeeping service that meets the needs of your business, now and in the future. To learn the 6 benefits of outsourcing your law firm’s payroll, click here. These practices not only ensure compliance with legal regulations but also set the foundation for long-term success. Ready…

Therefore, Beeker’s Mystery Boxes would record $240 as unearned revenue in their records. In this section, we will explore certain industry-specific considerations for unearned revenue, diving deeper into service and subscription models as well as publishing and prepaid services. As the services are provided over time, accountants perform adjusting entries to recognize the earned revenue.…

Relatively early in a law firm’s existence, a decision is required concerning whether to report financial activities to the Internal Revenue Service on a “cash” or “accrual” accounting basis. Late payments, delayed invoicing, and excess overdue payments make it challenging to financially operate. Many of these issues can stem from manual or tedious methods that…

Once you have set your review scope and identified the business systems that store the data, the next action is to bring the data altogether. How you do that depends on how frequently you intend to calculate the analytics. An analytics review can be broad, all companies in a multi-national conglomerate, or narrow, direct spend…