When a company purchases inventory for cash, one asset will increase and one asset will decrease. Because there are two or more accounts affected by every transaction, the accounting system…

For all recorded transactions, if the total debits and credits for a transaction are equal, then the result is that the company’s assets are equal to the sum of its…

Assets typically hold positive economic value and can be liquified (turned into cash) in the future. Some assets are less liquid than others, making them harder to convert to cash….

Ted decides it makes the most financial sense for Speakers, Inc. to buy a building. Since Speakers, Inc. doesn’t have $500,000 in cash to pay for a building, it must…

They were acquired by borrowing money from lenders, receiving cash from owners and shareholders or offering goods or services. The assets of the business will increase by $12,000 as a…

Construction bookkeeping is critical to the financial health of contractors and their businesses. By tracking expenses, managing cash flow, and leveraging technology, you can navigate the unique challenges of the…

This cloud-based solution has a base of user interface (UI) customizations, custom workflows, search tools and collaboration features. The next function layer How Construction Bookkeeping Services Can Streamline Your Projects…

Record electronic signatures for approvals and use the cloud-based document storage tool to keep everything you need one click away. Given the irregular cash flow patterns in construction, detailed cash…

Change orders often arise during construction, requiring real-time adjustments to project budgets. Accurate change order tracking ensures financial records reflect the project’s current scope. Another important aspect of expense management…