Don’t hesitate to clarify things with your legal department or a qualified construction law attorney – you’ll thank yourself later. Recording and tracking retainage can seem confusing at first, but here’s a quick breakdown of what you need to know. To calculate your expected holdback, simply multiply the scheduled payment amount by the retainage rate....
Join QuickBooks ProAdvisor Program
Terms, conditions, pricing, special features, and service and support options are subject to change without notice. To help drive firm growth, efficiency, and scalability, we’ve added a variety of new benefits. From accountant-approved apps designed to enhance efficiency, to premium support for Gold ProAdvisors and email templates to streamline your communication with clients and prospects, we’ve got...
Understanding Owners Equity: Definition, Calculation, and Importance
Their equity is in the form of stock or shares, which represents their ownership in the company. Generally, increasing owner’s equity from year to year indicates a business is successful. Just make sure that the increase is due to profitability rather than owner contributions keeping the business afloat. The book value of owner’s equity might...
Virtual Full-Service Bookkeeping Services
In addition to helping you find bookkeeping jobs or clients, QuickBooks also looks for people holding its certification to fill internal bookkeeping positions. QuickBooks Live bookkeepers work between 20 to 40 hours per week. The role can function as a part-time job to supplement other income, or you can be a full-time bookkeeper. If you...
Automation in Accounting Ideas & Best Practices
To successfully implement automation software, you’ll need to get buy-in from your staff. As we’ve already explained, this will involve effective training, highlighting not only how automation works but the huge benefits it can bring. Before rushing into automation, Marie recommends delegating tasks where possible. According to Marie, effective delegation lays the groundwork as it...
Tax Withholding Estimator Internal Revenue Service
The IRS allows you to deduct a litany of expenses from your income, but record-keeping is key — you need to be able to prove, usually with receipts, that the expenses you’re deducting are valid. People who itemize tend to do so because their deductions add up to more than the standard deduction, saving them...