Category: Bookkeeping

Well, understanding where your accountant is coming from will help you better communicate with them and allow you to verify your accounting is being done correctly. Even though your accountant is a trusted business advisor, you are ultimately responsible for your business’s financial information. GAAP was ultimately created in response to the Stock gaap is…

When you own more than one business, you can use a different accounting method for each business if the method you use for each clearly shows your income. You must keep a complete and separate set of books and records for each business. You adopt a tax year by filing your first income tax return…