Bookkeeping

For real estate agents, investors, and developers, bookkeeping is more than just a mundane task it’s a powerful tool https://www.blogstrove.com/categories/business/how-real-estate-bookkeeping-drives-success-in-your-business/ for financial success. Accurate and organized financial records provide insights, enable compliance, and boost confidence among investors and partners. We understand the unique financial challenges faced by marketing firms, advertising agencies, and digital studios, and we’re here to help you…

An Illinois construction attorney at Grzymala Law Offices can map out all available remedies and then recommend the path that best protects your receivables while accounting for ongoing business relationships. If you’re involved in construction – whether as a general contractor, subcontractor, architect, accountant, or small business owner – you’ve likely come across AIA Document G702 and AIA Document G703.…

This method takes a broader view of transactions and analyzes the data to create trends and predictions. If you spot some recurring errors during the reconciliation process, this is an opportunity to reassess your systems that track and record those transactions. Regular account reconciliation ensures you know where you stand and improves your financial projections and analysis. Monthly or quarterly…

New York Gov. Andrew Cuomo extended the tax filing deadline to July 15. The Louisiana Department of Revenue says the individual income tax deadline is now July 15. “This also gives the IRS time to issue needed guidance on unemployment compensation, as millions of returns already filed likely do not account for this change.” The American Rescue Plan excludes the…

The rule requires certain real estate professionals involved in closings to report all-cash residential property transfers made to legal entities or trusts. This shift is designed to increase transparency and help deter money laundering in the real estate sector. For agents, brokers, investors, and property managers, that means keeping clean, detailed financial records isn’t just smart—it’s now vital. Understanding strategic…

While it may not be mandatory to publish your balance sheet specifically, it is a key part of the financial statements included in your annual reporting. Unlike businesses, nonprofits must distinguish between different types of net assets, including restricted and unrestricted funds. This distinction helps leadership understand what resources are available for operations versus those committed to specific programs or…

Custom dashboards help firm leaders make analytical decisions about tax strategies. Legal accounting needs attention to detail way beyond the reach and influence of standard business practices. Law firms need purpose-built systems and processes instead of generic financial approaches. Cash basis accounting for taxes combined with accrual insights helps firms get the best of both worlds – simple tax filings…

A remittance advice is a document sent by the payer to inform the payee that payment has been made and to specify which invoices the payment covers. A payment receipt, on the other hand, is issued by the payee to acknowledge that the payment has been received. In essence, remittance advice initiates communication about a payment, while a receipt confirms…

This clean and professional invoice template is designed with service businesses in mind, but you can use it for any other purpose. To incentivize your clients to pay you on time, you may also want to offer them discounts on early payments. In a similar vein, you can charge them a penalty for missing the due date. Adding exact Retained…

You can use this information to make tax payments and prepare the business owner for a potential audit. Neglecting to reconcile bank statements is another common mistake that can lead to financial discrepancies. Regularly reconciling accounts helps identify errors, unauthorized transactions, and discrepancies between financial records and bank statements. This practice ensures that the financial data is accurate, which is…