Category Bookkeeping

Resources for Doing Business

This plan includes automatic data extraction from bills, statements, invoices, and receipts, as well as seamless syncing with Xero and QuickBooks Online. The subscription allows for unlimited usage, multiple collaborators, tech support, and easy backup options. The service is available…

Construction accounting for busy contractors

This allows them to accurately estimate job cost and compare it to the actual cost, helping them determine profitability. Together, these two systems give a construction company a holistic view of its finances. Job costing helps maintain organization in the…

Construction Accounting 101: The Essential Guide 2023

Consequently, understanding the percentage of completion method becomes critical. Many industries operate around fixed-price, point-of-sale billing, but that’s not always the case with construction. Because construction production is project-based, decentralized and long-term, contractors may use a wide range of billing…

Compound Interest Formula With Examples

Calculate compound interest on an investment, 401K or savings account with annual, quarterly, daily or continuous compounding. This means that [latex]6\%[/latex] compounded quarterly is equal to a periodic interest rate of [latex]1.5\%[/latex] per quarter. Interest is converted to principal [latex]4[/latex]…

UK Accounting Standards overview

There are a number of publications which outline the similarities and differences between UK GAAP and other sets of accounting standards. The Urgent Issues Task Force (UITF) was part of the previous standard-setting regime. It assisted the ASB by investigating…