An invoice number acts as a unique identifier for each transaction. It allows small businesses and enterprises to track and reference specific payments in their records. You can organize and retrieve information from the invoice number to ensure accuracy in financial reporting, auditing, and reconciling accounts. When you number invoices, you’ll keep track of their […]

In this module, we will begin to look at the foundational construction of government financial statements. Segregation of duties is a fundamental internal control practice, where responsibilities for financial transactions are divided among different individuals to reduce the risk of fraud. For instance, the person responsible for approving expenditures should not be the same individual […]

Whether you’re an HR professional, in management, or an employee, understanding this term can avoid confusion and mistakes about wages. Gross income is the starting point in calculating an individual’s or business’ tax liability. Individuals calculate gross income by adding wages or salary, tips, dividends, interest, capital gains, income from rental properties, alimony, and pensions. […]

Now, let’s dive in to learn more about our favorite outsourced accounting firm— Jitasa. Let’s schedule time to talk about your needs in order to create a win-win situation. The machine-readable files are formatted to allow researchers, regulators, and application developers to more easily access and analyze data. The National Institutes of Health (NIH) has […]

The Fair vp marketing job in scottsdale at massage envy Labor Standards Act (FLSA) provides benefits and protections, like overtime pay and minimum wage, for most employees. Independent contractors, however, are not afforded these same protections. Likewise, exempt and nonexempt employees also have different legal rights. One of the biggest advantages of payroll software is […]

But, steering clear of said blunders is easy if you know what to watch out for. Without further ado, here are eight payroll mistakes to avoid at all costs. Many payroll errors are the result of payroll admins not having enough information or not having the correct information around payroll compliance. Some, like employees looking […]

The three major financial statement reports are the balance sheet, income statement, and statement of cash flows. The balance sheet, also called the statement of financial position, is the third general purpose financial statement prepared during the accounting cycle. It reports a company’s assets, liabilities, and equity at a single moment in time. You can think of it […]

Equity is important because it represents the ownership interest of shareholders in a company. Equity can also be used to give insights into a company’s financial health. For example, a high equity ratio (the ratio of equity to total assets) suggests that a company is in good financial shape. Some elementary accounting concepts have been […]

However, this can be extremely time-consuming for your nonprofit’s team and take energy away from focusing on your mission. Financial activities result in either a surplus (increase) or shortfall/deficit (decrease) in the organization’s net assets shown on the Statement of Financial Position (SOFP). Net results are classified as either with or without donor restrictions per […]

You built your construction company with the tools and skills you learned on the jobsite. This video shows you the organization, tools, and processes Apparatus uses to deliver precision construction accounting to our clients. Adds powerful capabilities on top of payroll, such as garnishment payment service, SUI management, background checks, and job posting through construction […]