As we emerge from a global pandemic, we wanted to share thoughts on how things might change in bookkeeping permanently. Below are some practices that may become part of bookkeeping forever. Paychecks Payrolls are sent electronically more often. Most employers have convinced employees who previously refused direct deposit to accept payment cards or direct deposit.…

A regular question from business owners is what bookkeeping services actually are and how they can truly benefit the company. The answer always stays the same: a great bookkeeper can be a life-changing experience for your business. What is the job of a bookkeeper? The bookkeeper records all the transactions in your balance sheet accounts…

Staying on top of the company’s numbers is one of the essential duties of a CEO. The financial statements give insight into how well the company is doing on all fronts and how it is achieving its goals. It is essential that all the numbers are accurate for these reports to be of any use…

With every passing year, outsourced accounting services are becoming more popular. In-house accounting teams have become no longer economically viable when comparable experts can be found outside of the organization. It makes even more sense to leverage the expertise of the outside specialists given that outsourced accounting services provide direct access to a community of…

Here are some things to consider when choosing the right form for your 1099 filings: 1099-NEC form report payments of more than $600 to non-employed individuals (including independent contractors and freelancers); formerly reported on 1099-MISCs, Box 7. By February 1, 2022, 1099-NEC copies A and B must be submitted to the IRS and to recipients,…