Tax-loss harvesting—incurring capital losses to offset gains—is limited to long-term capital losses. Short-term capital losses aren’t used to offset capital gains subject to Washington’s capital gains tax. The legal nuance
Outsourcing accounting services provides businesses with access to a team of highly skilled and experienced professionals. These experts possess in-depth knowledge of accounting practices, tax regulations, and financial reporting standards,
Explore Xero accounting software and its tools for small businesses, accountants, and bookkeepers. Get to know your finances with accurate, daily figures when you’re accounting online with Xero. Easily sync
This lesson covers how to manage your bills and record expenses in QuickBooks. As a small business owner or manager, you know that managing expenses is as important as generating
QuickBooks and Xero include many of the same features, though QuickBooks is more feature-rich overall. That said, Xero’s bill pay tools outperform those in QuickBooks at lower prices than QuickBooks’
QuickBooks Online is a cloud-based software that can be accessed anywhere with an internet connection. It offers four scalable plans and a user-friendly interface, making it suitable for most businesses.
Businesses that are using online banking services can download the bank statements for the regular reconciliation process instead of having to enter the information manually. By entering your ending statement
It’s essential to keep track of the number of items sold per month for each product. Then, determine the percentage of total sales that each item accounts for over a
This principle ensures that timeliness and true financial reporting are done, forming the bedrock of sound decision-making. Depreciation distributes the asset’s cost over its expected life span according to the
Introducing a new system can meet resistance from employees used to the old methods. Overcoming this calls for successful change management tactics, similar to persuading a team to adopt an