Author: yanz@123457

It’s true that many large companies outsource portions of their operations, although accounting is typically one of the areas that tends to be handled by internal teams. But the fact that public companies are embracing outsourcing shouldn’t dissuade you from exploring outsourcing elements of your own business. Among all these day-to-day activities, it can be… Continue reading Finance and accounting outsourcing Services

Creating the credit memo creates a debit to a bad debt expense account and a credit to the accounts receivable account. This is a distortion that reflects on the revenue financial reports for the accounting period of the original invoice as well as the period of the write off. To keep the revenue of both… Continue reading Write-Offs: Understanding Different Types To Save on Taxes

When a sale takes place I am taking from Inventory and posting to the appropriate P & L account. Looks like the business could have a sizable amount of money spent on inventory that cannot be recognized for tax purposes until a sale takes place which could be in a different year. You work hard… Continue reading Financial Clarity: Demystifying Auto Dealer Accounting for Increased Efficiency