Charles Lutwidge

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Charles Lutwidge is a writer with a passion for helping small businesses succeed. Having worked at multiple startups, Charles understands the unique challenges that entrepreneurs face. He writes about a wide range of topics, from management to bookkeeping to technology — all with a focus on helping business owners overcome key obstacles to growth.

Email: charles@bookstime.com
Phone: 8889026657

January 21, 2022

Charles Lutwidge
Best Receipt Tracking Apps for Small Businesses

Best Receipt Tracking Apps for Small Businesses

Accounting and keeping track of all business expenses is one of the main tasks of a business. It is a tedious process if managers have to do everything manually. Luckily, we have all sorts of apps to choose from to facilitate..

Articles

January 20, 2022

Charles Lutwidge
Basics and Importance of Preparing for an Annual Audit

Basics and Importance of Preparing for an Annual Audit

An audit is a comprehensive assessment of the economic and financial elements of an organization, verification of the reliability of the information in financial reports, as well as analysis and assessment of the prospects for its development, which can be carried..

Articles

January 19, 2022

Charles Lutwidge
Accounting in Georgia

Accounting in Georgia

Owning a business may be exciting, but it also requires a lot of work. For instance, coming up with a sellable idea, services, or goods. Then develop your business and charge for products or services enough to gain profit. Marketing your..

Articles

January 18, 2022

Charles Lutwidge
Accounting in Chicago

Accounting in Chicago

Whether you are an individual living in Chicago or running a business, you have to keep track of all your financial statements. As you know, all citizens in the US are taxpayers. Paying taxes means accurate accounting to figure out what..

Articles

January 17, 2022

Charles Lutwidge
Accounting in California

Accounting in California

Everyone has to pay taxes and follow bookkeeping rules. While individuals mainly focus on deducing their income, investment gains or losses, other profit, businesses have a more complex set of rules to follow. To track funds of corporations, businesses must keep..

Articles

January 14, 2022

Charles Lutwidge
How to Calculate Workers’ Compensation Cost Per Employee

How to Calculate Workers’ Compensation Cost Per Employee

Workers’ comp explained Before we start explaining how to find how much workers’ compensation you pay on a per employee basis, we first need to briefly go over what it is all about. It is a system that provides protection for..

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January 13, 2022

Charles Lutwidge
Accounting in Florida

Accounting in Florida

Owning a business is exciting and considered to be a dream come true for many people. But it’s also a huge responsibility. You have to pay salaries if you have employees, but most importantly, keep proper accounting. Accounting is required by..

Articles

January 12, 2022

Charles Lutwidge
Estimated tax payments: How they work and when to pay them

Estimated tax payments: How they work and when to pay them

There are numerous tax types that one might come across, especially if one owns a business. With all the requirements and rules, many people are not sure what estimated tax payments are. Since these taxes are not going anywhere in the..

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January 11, 2022

Charles Lutwidge
What’s the Difference Between Purchase Order and Invoice

What’s the Difference Between Purchase Order and Invoice

When you start a business or even try some freelance work, there are many terms and concepts you would need to know. It is likely that you will come across two seemingly familiar terms: purchase order and invoice. To help you..

Articles

Best Receipt Tracking Apps for Small BusinessesBasics and Importance of Preparing for an Annual AuditAccounting in GeorgiaAccounting in ChicagoAccounting in CaliforniaHow to Calculate Workers’ Compensation Cost Per EmployeeAccounting in FloridaEstimated tax payments: How they work and when to pay themWhat's the Difference Between Purchase Order and InvoiceThe difference between the balance sheet and income statementWhat is a DisbursementAccounting in Memphis TNTax Forms for Independent Contractors: What you need to knowBookkeeping ExpressWhat Is the Current RatioAccounting in San DiegoWhat Is Tax Liability?Customer InvoiceForm 1065: U.S. Return of Partnership IncomeWhat You Need to Know About Independent ContractorWhat You Need To Know About Tax RefundsWhat is a Full Charge BookkeeperMonth-End Close ProcessPercentage of Completion MethodGrowthForce ReviewHow to Calculate Withholding TaxCreating a Monthly Bookkeeping ChecklistThe difference between bookkeeper and accountantHow to make a balance sheetHow to Write a ReceiptBusiness Tax PreparationResearch and Development Tax CreditHow to become a bookkeeperSchedule C: Profit or Loss From BusinessAccounting Errors and Error CorrectionsWhat is the Profit and Loss Statement (P&L)Payroll Taxes and Employer ResponsibilitiesHow to Make an InvoiceWhat Is an Invoice?Opening Entry in AccountingWhat Are Closing Entries in AccountingWhat Is a Variable CostWhat are Intangible AssetsWhat is an ExpenseSalvage Value DefinitionGAAP VS. IFRS: What are the key differenceAudit Risk ModelCurrent Assets DefinitionAfter-Tax IncomeWhat is net incomeWhat is gross income and How it worksBasic Overview of Progressive TaxDays Payable Outstanding (DPO)What Is the Equity Method of Accounting?Meaning and Example of Insurance ExpenseVariance AnalysisMarginal Cost FormulaAnnual Income: Meaning and CalculationAccounts Receivable FactoringCapital Lease vs Operating LeaseEncumbrance Accounting: Explanation and ExampleBasics of Nonprofit AccountingFund Accounting Explained in Simple TermsIntroduction to Governmental AccountingExplanation of Account Reconciliation with ExampleWhat Is Sales Margin and How to Calculate It?The Basics of Cost AccountingWhat Is Opening Balance Equity?Bookkeeping: What is a 3-Way Match?Learn How to Calculate Salvage Value of AssetsStockholders' Equity: How to Calculate?Percentage of Sales Method: Explanation with ExamplesPrepaid Insurance Journal EntryRealization PrincipleConsolidated Financial StatementsWhat Is Prepaid Rent?LLC Accounting: Basics and RequirementsA Simple Explanation of Sales Revenue with ExamplesA Simple Guide for How to Write Off Bad DebtWhat Is an Accountant? Roles and ResponsibilitiesExpense Report: Meaning and TemplateThe Meaning and Basics of Hedge AccountingEnterprise Resource Planning (ERP)Cash Reconciliation: What Is It and How to Perform It?The Basics of Lease AccountingBusiness Valuation Formula and PurposeExplanation of Future Value of an Annuity with ExamplesWhat Is a Budget Report?Cash Flow from AssetsExplanation of Prepaid Insurance with ExampleAdvanced online bookkeeping services for business needsWhat CPAs areWhat is the Present Value of an Annuity Table?Review of the 6 Best Virtual Bookkeeping Services in 2021Outsource Bookkeeping Solutions for BusinessesComparison of Online vs Traditional BookkeepingWhen You Should Outsource Your Bookkeeping?Net Working Capital: Meaning, Measurement, and OptimizationWhat Is the Meaning of Opportunity Cost?What is GAAP in Accounting?Revenue Recognition PrincipleWhat Is Chart of Accounts Numbering and Why Do You Need It?Basic Explanation of Order of LiquidityExpense Recognition Principle: Meaning and ImportanceWhat is Tax Shield?What Is Depreciation Tax Shield?Post Closing Trial BalanceWhat Is Net Sales and How to Calculate It?Product Cost Meaning and CalculationClassified Balance SheetWhat Are the Main Income Statement Accounts?Learn How to Calculate Cost Per UnitDebits and Credits in AccountingCapital Budgeting ExplainedIndirect Method – Cash FlowAsset Turnover Ratio Explanation and ExampleSimple Explanation of the Periodic Inventory SystemThe Beginner's Tutorial to BookkeepingAccrued Payroll ExplanationLIFO Reserve Explained with ExampleWhat Is the Payback Period?Units of Production Method of Depreciation: Explanation and CalculationAn Easy to Understand Explanation of a Debit Memo with an ExampleWhat Are Investing Activities in Accounting?Stockholders' EquityAbsorption Costing in AccountingTrade Discount Explanation with ExampleEasy to Understand Explanation of Accrued InterestIncremental Cost Explanation and CalculationOperating Cycle Explanation and FormulaOperating Expenses Explanation with ExamplesMeaning of Mixed Cost in AccountingSimple Explanation of Purchase DiscountsCash and Cash EquivalentsSimple Explanation of FOB Shipping PointDays Sales in InventoryContingent Liability Explanation and ExamplesBookkeeping Services for BostonBookkeeping Services for San AntonioBookkeeping Services for San FranciscoBookkeeping Services for SeattleBookkeeping Services for Las VegasBookkeeping Services for AtlantaBookkeeping Services for PhoenixBookkeeping Services for HoustonBookkeeping Services in AustinBookkeeping Services for MiamiWhat are Long Term Liabilities?Vertical Analysis Explanation and ExampleHorizontal Analysis OverviewPublic AccountingTimes Interest Earned Ratio: Explanation and PurposeSalaries and Wages: Which one is better?Contribution Margin Explanation and ImportanceWhat Is Going Concern Principle?What does MM mean? Explanation and ExamplesDirect vs Indirect Cash Flow Statement Preparation MethodsAccumulated Depreciation Explanation and Calculation ExampleProcess Costing Explanation and ExampleWhat is Net Realizable Value? How to Calculate NRV?Simple Explanation of SG&A ExpensesBreak Even Point: What is it and Why is it important?Cost Principle Definition and Role in AccountingA Simple Guide to Payroll AccountingWhat Does Goodwill Mean in Accounting?Introduction to Pro Forma Financial StatementsMeaning and Example of Credit MemoActivity-Based CostingStandard Costing Meaning and How It WorksPlant Assets: Explanation and ExamplesHow to Calculate Sales Tax: Step-by-Step GuideExplanation of Cash Flow and Its ImportanceOutstanding Checks: Definition and How to deal with themMatching Principle: Definition and ImportanceWhat is a Chart of Accounts?Conversion Costs: Meaning, Formula, and ExampleWhat is the Cost of Goods Sold? Meaning and CalculationFundamental Accounting: Concepts and PrinciplesHow do bookkeepers get clients?Is bookkeeping a dying profession?How can I learn bookkeeping?What are the two types of bookkeeping methods?Should I become a bookkeeper or an accountant?Does bookkeeping have a future?Bookkeeping: Do you need to be good at math?Is it hard to be a bookkeeper?What are the basic bookkeeping skills?What exactly does a bookkeeper do?What is another name for a bookkeeper?What are Depreciable Assets for a Business?Comparing BooksTime vs. QuickBooks LiveContribution Margin RatioAccounts Receivable Turnover RatioA Guide to Notes PayableAccounting Basics for BeginnersQuick RatioDouble Declining Balance Method of DepreciationDepreciation Expense Overview and CalculationOverview of Debt to Asset RatioFlexible BudgetExplanation and Calculation of the Owner’s EquityAverage Collection PeriodAdjusted Trial Balance BasicsCost of Goods ManufacturedIntroduction to Capital ExpenditureGross Margin RatioPros and Cons of Capital StockFinancial Leverage: What is It and Why a Business Needs One?Debt Ratio – Meaning and CalculationHow The Pandemic Is Affecting The Accounting IndustryAn Introduction to Credit RiskDirect Write-Off MethodAllowance for Doubtful AccountsAging of Accounts Receivable – Definition and ExamplesHow to Record a Credit SaleBad Debts Expense - Explanation and AccountingPreparing a Bank ReconciliationVertical and Horizontal Analysis: What's the Difference?Financial Ratio AnalysisCash Dividends and Stock DividendsSingle-Step vs Multi-Step Income StatementInventory Turnover RatioBusiness Credit CardNotes to Financial StatementsStatement of Comprehensive IncomeOverview of Reversing EntriesBasic Accounting PrinciplesIntroduction to T-AccountsEarly Payment DiscountsStock Splits and Stock DividendsRecording Transactions for BeginnersFinancial Ratios You Should KnowAmortizing Bond Premium with the Effective Interest Rate MethodFederal Insurance Contributions Act (FICA)Minimum Wage and Overtime PayIncome Summary AccountStatement of Stockholders EquityCash Flow from Operating ActivitiesBalance Sheet Template and StructureCash Short and Over AccountDividends Account - Explanation and ExampleThe Suspense Account - Everything You Need to KnowWhat is a Trial Balance?Manufacturing Overhead CostsGross vs. Net IncomeA Simple Explanation of Straight Line DepreciationInternal Controls in AccountingAccounting in Banks SimplifiedSmall Business Guide for Invoice Payment TermsWorking Capital Ratio: Definition and ExampleBetter Bookkeepers Accounting ReviewYour Guide to the Real Estate Capitalization RateCompleted Contract MethodHow to Calculate the Present Value of a Single AmountMinimum Wages in the United StatesHow to Increase Your Business ProfitabilityYour Guide to Inventory AccountingPaperless Invoicing - Can and Should Your Business Do It?Cash Flow ProjectionForm W-8 Defined and ExplainedPropeller Industries ReviewSalt Lake City Bookkeeping ReviewFinancial Statements Audit ReportNon-Profit Statement of ActivitiesYour Guide to Form 990Everything You Need to Know About In-Kind DonationsYour Guide to Tax FilingsSingle vs. Double Entry BookkeepingThe Balance Sheet BasicsNon-Manufacturing Overhead CostsTOA Global Accounting ReviewThe Meaning and Benefits of 501 (c3) for Donors and OrganizationA Closer Look at Forensic AccountingJob Costing BasicsProject AccountingWork-in-Process InventoryUnrestricted Net Assets in NonprofitsAccounting for Lease TerminationIOLTA Account BasicsFixed Assets - Explanation and ExamplesAmortization Accounting for Intangible AssetsWhat are Different Types of Liability Accounts?A Step-By-Step Guide to Starting Your Own Bookkeeping Business.Ignite Spot ReviewAmortization: Explanation and ExamplesFixed Asset AccountingDouble-Entry BookkeepingCost of a Bookkeeper: Can Your Business Afford One?Business Taxes: What are they and how do you calculate them?Acuity - Accounting and Bookkeeping ServicesIntroduction to Cash Flow ForecastCPA Exam Cost and License FeesBill Pay AutomationOverview of the Best Invoicing ToolsBest Payroll Software for Small BusinessesBest Accounting Software – Top 5 ChoicesHow to Hire an AccountantA Guide to Your Own Virtual Bookkeeping BusinessOverview of Fractional CFO ServicesOutsourced BookkeepingProperty Management Accounting GuideA Guide to Real Estate EscrowCryptocurrency AccountingIntroduction to Financial Statements for NonprofitsStartup Bookkeeping: Basics and TipsYour Guide to Real Estate TaxesRemote Books Online ReviewLedgerGurus Review: Virtual and Outsourced Accounting25 Highest Paid Occupations in the U.S. for 2020The 5 Richest People in the World and How Coronavirus Affected ThemHow to Fill Out Form W-4 2020The Best Practices for eCommerce BookkeepingPart-time Bookkeeping - A Solution to Your Small Business ProblemsRemote Bookkeeping for Small BusinessesBill.com ReviewOnline AccountingQuickBooks Self-Employed – a Bookkeeping Service with Online LoginCoronavirus Aid, Relief, and Economic Security (CARES) Act promises help for small businessesCARES Act - Step-by-Step Guide for Small BusinessesPandemic Relief Loans: A Quick OverviewWhat is a Bookkeeper?What is QuickBooks Payroll Service?Deductible ExpensesWhat is Gross Profit?What is Deferred Revenue?1-800Accountant ReviewBench Accounting ReviewReview of BotkeeperReview of inDineroWhat is Indirect Cost?What is petty cash, and why is it important for small businesses?Foreign Currency Translation — International Accounting BasicsWhat is a C Corporation (C Corp)?SmartBooks ReviewReview of KPMG SparkWhy should you pay attention to the retained earnings line on the balance sheet?What is an S Corporation (S Corp)?Pilot Bookkeeping Service ReviewADP Run Review: Payroll Software for Small BusinessesGusto ReviewHubdoc 101: The Basics from Hubdoc Reviews ExpertsReview of ScaleFactor BookkeepingWhat are Financial Statements?What is an Income Statement?What is a Cash Flow Statement?What Are 1099s?Tax Season 2020: What You Need to KnowNetSuite ERP ReviewKashoo ReviewGoDaddy Bookkeeping ReviewsSage 50cloud ReviewSage Intacct ReviewWhat is QuickBooks Accountant?How to Become a QuickBooks ProAdvisor in 3 StepsAccounting Profit and LossZoho Books Review — What You Need to KnowAdjusting EntriesPurchases JournalWhat is Xero?Wave Accounting Review — What You Need to KnowTurboTax Review – The Best Online Tax Preparation Software or Not?Intuit Payroll ReviewWhat is FreshBooks?Balancing off AccountsCash Disbursement JournalQuickBooks Online ReviewDifferent Types of AccountingPosting in AccountingSales JournalControl AccountsContra Expense AccountAccrual to Cash ConversionAccounting Transaction AnalysisWhat is the accounting cycle?What is a general ledger account?What is a Contra Asset Account?What is a contra revenue account and why is it important to my small business bookkeeping?Royalties in AccountingAccruals and DeferralsNormal Balance of AccountsWhat is the accounting equation?What is Unearned Revenue in Accounting?Retained Earnings StatementRetained Earnings Statement ExampleNegative Retained EarningsIs Unearned Revenue a Current Liability?A Guide to Prepaid ExpensesThe Agent BackgroundHow much does an EA earn?What is the Special Enrollment Exam?What is the accounting equation?What are Retained Earnings?What is an enrolled agent, and does your business need one?Unearned Revenue and How It Is Accounted for in BusinessThe Accounting Equation May be Expressed as Assets = Liabilities + Owner’s EquityThe Accounting Equation – Your Guide to Important Accounting EquationsStatement of Retained EarningsStatement of Retained Earnings: Example CalculationRetained Earnings ExplainedWhat is retained earnings normal balance?Cash Basis AccountingHow to use the Retained Earnings Formula to track the profits your business has earned and keptIntroducing Balance SheetWhat is the accounting equation formula?Accrual basis as an accounting methodWhat is bookkeeping, and how does it operate today?The Difference between Daybooks, Journals, Ledgers, and Other Record-Keeping DocumentsHow to meet your bookkeeping needs: employee, contractor, or firm?What's the difference between accounting and bookkeeping?How to choose an accounting method for your businessA rundown of the new I-9 form for 2017Bills vs. invoices: do you know the difference?What does "accounts receivable" mean?A short primer on accounts payable.What is cash flow and why is it important?Bank reconciliation: a simple explanation.Why is accounting important?
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