Category: Bookkeeping

Unlike other nonprofits, most churches don’t have to file an annual tax return via IRS Form 990. However, church chart of accounts example there are exceptions to this rule, as well as special forms your church may have to complete depending on its income or the state it operates in. Stay up to date on…

These companies offer Gusto integration for the same price—$40 per month and $6 per month per person. On the other hand, FreshBooks may be a better fit for freelancers and solopreneurs, as the capabilities are easier to navigate. Business owners, freelancers and entrepreneurs often spend a large chunk of time on administration and accounting. Suited…

However, according to GAAP, outstanding encumbrances in the year-end are not considered expenditures for the fiscal year. After the vendor accepts the purchase order and delivers the goods or services, the purchasing organization encumbrance accounting becomes liable to make the payment. When an organization creates a new purchase order or adds a new line item…

When the execution phase begins, teams start to work on project tasks and the costs are subtracted. At this point, project managers start to see the difference between what they planned and how work progresses, and start to report the health of the budget to stakeholders. For budget overruns to stop happening in project-based companies,…