Category: Bookkeeping

Law Practice Management, Billing, and Accounting are three related but discreet functions. Each can be managed with different software (or in law firm bookkeeping an all-in-one software suite). FreshBooks: Best for firms needing invoicing-friendly accounting Missed deadlines and trust-account mistakes are not administrative inconveniences—they are existential risks for immigration law firms. MyCase offers a balanced…

Because the first account (Cash) was debited, the second account needs to be credited. Common stock is part of stockholders’ equity, which is on the right side of the accounting equation. As a result, it should have a credit balance, and to increase bookkeeping 101 its balance the account needs to be credited. Accounting Basics…

Even though interest rates on business accounts are traditionally low, having a cash surplus in a business savings account can improve your likelihood of being approved for a loan. It’s also a good place to store money you’re setting aside for taxes and emergencies. It’s best to work with a CPA who has experience working…