September 08, 2019
Charles Lutwidge
How to use the Retained Earnings Formula to track the profits your business has earned and kept
As a small business owner, you’re focused on providing a profitable product or service and achieving business growth, meaning more cash for you now plus a higher sale price in the future. Having accurate financial data is a priority for...
Delegate your financial records to a highly qualified bookkeeper and forget about bookkeeping stress forever.
September 06, 2019
Charles Lutwidge
Introducing Balance Sheet
Introduction: Q: What do you call a friend who loves Math? A: Algebro! Accounting folks, in this article, you have to unleash the algebro in you and learn to solve the mystery there is in retained earnings.If you ever saw...
September 06, 2019
Charles Lutwidge
What is the accounting equation formula?
Introduction: The word ‘equation’ gives a feeling of anxiety or maybe a cringe for two kinds of people in the world: those who don’t love Math and those who aren’t loved by Math either. So, the term, accounting equation sounds...
September 06, 2019
Charles Lutwidge
Accrual basis as an accounting method
Introduction: What is accrual accounting? The word “cruel,” in its most specific definition, means willfully causing pain or suffering to others. The accrual basis of accounting is considered a complicated accounting method that requires thorough attention to all financial activities...
August 18, 2017
Charles Lutwidge
The Difference between Daybooks, Journals, Ledgers, and Other Record-Keeping Documents
Should you record the sale you just made in accounts receivable, your daybook, or a general ledger? All? None? You can document financial transactions in a number of different records. Read on to clear up the confusion on which is...
June 12, 2017
Charles Lutwidge
How to meet your bookkeeping needs: employee, contractor, or firm?
Every business (and every nonprofit) needs bookkeeping services. There are a lot of options: you could hire a bookkeeper as an employee, contract the work out to an independent bookkeeper, work with a bookkeeping firm, or some combination of these...
May 02, 2017
Charles Lutwidge
Choosing an accounting method for your business
One of an accountant’s basic goals is to keep accurate and useful records of financial transactions. Individuals, small firms, large corporations, and even whole countries faced with this task have two major methods from which to choose: the cash basis...
March 14, 2017
Charles Lutwidge
New I-9 form for 2017
The I-What? Since 1986, the federal government has required employers to certify the identity and legal employment status of their workers. This is done by use of the Employment Eligibility Verification Form — or as you may know it, the...
