It is best to report gross sales, followed by all the discounts that were given on sales and then listing the net sales number. Showing your sales this way clearly show when there is a change in sales deductions, overly large marketing discounts and other...
Health insurance policies and related documents are important to keep long term, too. So long as your health insurance is active, you should keep these records. If your coverage ended or you’ve moved to another insurance company, go ahead and toss paperwork once you’re sure...
Insurance protects the business from various risks and potential financial losses. Rental can be a cost-effective option for short-term needs or to save on upfront costs. This category is crucial for skill enhancement and workforce productivity. These fees are a part of doing business in...
It directly shows cash outflows and inflows impacting the financial position of a firm by giving a detailed and transparent view of cash transactions. The direct method reports actual cash flow information from cash receipts and payments from business operations. The cash flow statement is...
Keeping track of payroll is another element where construction bookkeeping is essential. Unfortunately, it’s not as simple as agreeing on compensation with a worker and paying them the same rate per project. The more projects your construction company manages and the more workers you...