Bookkeeping

With Bookkeeper360, you’ll get a dedicated virtual accountant who sends detailed reports on a monthly basis. However, Merritt can still recommend a solid payroll provider or tax consultant who meets your needs. Unlike most other outsourced bookkeepers on our list, Merritt Bookkeeping doesn’t offer any in-house add-ons for payroll and […]

The good thing about an onboarding process is that it can change and grow over time, especially if you notice recurring questions or concerns that new clients should already be aware of. This new bookkeeping client checklist has been designed so that you can edit it to make it your […]

But could the same intimate knowledge of your client’s books be accomplished in a less time-intensive manner through regular reviews? There are several questions you should consider when trying to determine whether you should outsource your firm’s books. It’s rare these days to have the stereotypical client walk in with […]

Mainstream China funds, on average, put over half of their assets under management into just 1% of stocks. The remaining 98%–99% of the China stock universe is arguably underexplored. We believe there are favorable excess return opportunities beyond the well‑discovered large-cap consensus names. In many traditional industries, we’ve seen better capital […]

Once you’ve calculated the accrued payroll for one of your employees, you’ll have to repeat the process for every employee and contractor on your payroll. With a well-organized system for income statements, taxes, insurance, etc., it is possible for small businesses to stay on track. For financial statements, the variation […]

Yes, allowance accounts that offset gross receivables are reported under the current asset section of the balance sheet. This type of account is a contra asset that reduces the amount of the gross accounts receivable account. Then, the company establishes the allowance by crediting an allowance account often called ‘Allowance […]

The balance in Accounts Receivable also increases if the sale was on credit (as opposed to a cash sale). However, Accounts Receivable will decrease whenever a customer pays some of the amount owed to the company. Therefore the balance in Accounts Receivable might be approximately the amount of one month’s […]

Dividends are taken away from the sum of beginning retained earnings and net income to get the ending retained earnings balance of $4,565 for January. This ending retained earnings balance is transferred to the balance sheet. The statement of retained earnings (which is often a component of the statement of […]

Whether drafting an income statement, calculating cash conversion cycles, or learning how to create a business cash flow statement, any form of financial planning helps business owners succeed. Through measuring your company’s gross profit and gross margin, you can budget wisely and make more informed investment decisions. Gross margin and […]

We analyzed the 86,955  tax returns that were filed in the grocery store industry to pull out some key statistics and insights to help our customers ensure that they are creating realistic financial projections for their grocery store. This article is a part of the Retail practice’s new annual report […]