November 15, 2021
Charles Lutwidge
Schedule C: Profit or Loss From Business
Overview Are you a YouTuber, blogger, social media influencer, Etsy seller, or something along those lines? If yes, then this article is written for you. If you are a new business owner or if you are new to self-employment, you...
Delegate your financial records to a highly qualified bookkeeper and forget about bookkeeping stress forever.
November 11, 2021
Charles Lutwidge
Accounting Errors and Error Corrections
Types of Errors in Accounting An error in accounting is a non-fraudulent error in double-entry bookkeeping transactions. In most cases, errors occur because the bookkeeper either lacks accounting expertise or is careless. The moment an error is spotted, investigative measures...
November 10, 2021
Charles Lutwidge
What is the Profit and Loss Statement (P&L)
Overview Income, office rent, taxes, logistics, payroll, purchase of supplies, and other expenses are all operational activities. When it comes to expenses and incomes with deferred payments, obligations, deadlines for fulfilling obligations, and so on, you can get confused and...
November 09, 2021
Charles Lutwidge
Payroll Taxes and Employer Responsibilities
Payroll Taxes and Employer Responsibilities A responsibility of every profit-making enterprise is the payment of taxes. Businesses require federal, state, and local services, and taxes are the cost of those benefits. One of the ways these agencies determine your company’s...
November 09, 2021
Charles Lutwidge
How to Make an Invoice
Invoice and Invoicing Tools An invoice, simply put, is a document issued by the seller (business) and delivered to the buyer (customer). The document is used to request payment from the buyer of the goods or for the provision of...
November 08, 2021
Charles Lutwidge
What Is an Invoice?
Whether you are a bookkeeper or a business owner who wants to know the purpose of each document in the business operation and be able to correctly prepare it, you are in the right place. Today, we are going to...
November 08, 2021
Charles Lutwidge
Opening Entry in Accounting
Keeping of accounting records begins with an Opening Entry. If you are embarking on a new venture, these entries capture everything with which you are starting your business. On the other hand, if you already own an established business and...
November 06, 2021
Charles Lutwidge
What Are Closing Entries in Accounting
Definition and Explanation Bookkeeping is a subject with many rules, principles, and regulations guiding every move of the business as a whole as well as the work of a bookkeeper. Closing entries are part of the bookkeeping basics, so it...
