This will ensure that you meet your tax obligations. You can also maximize deductions to reduce your tax liability. But…
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I fear will throw off every single bank reconciliation report from that point forward. I do not want to unreconcile…
Read MoreBack to Basics: The Percentage of Completion Method of Accounting for Contractors
Embracing the idea of outsourcing bookkeeping services can prove to be an efficient choice for construction companies aiming to optimize…
Read MoreHow to Do Accounting for Your Construction Business 8 Steps
Consider which apps you use already, and keep an eye on https://azbigmedia.com/real-estate/commercial-real-estate/construction/how-to-leverage-construction-bookkeeping-to-streamline-financial-control/ software with integrations. As we mentioned, Sage’s simple,…
Read MoreAccrued Expense vs Accrued Interest: What’s the Difference?
The adjusting journal entry for December would include a debit to accounts receivable and a credit to a revenue account.…
Read MoreAccrued Liabilities: Overview, Types, and Examples
Although the accrual method of accounting is labor-intensive because it requires extensive journaling, it is a more accurate measure of…
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