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September 06, 2019

Charles Lutwidge
Accrual basis as an accounting method

Accrual basis as an accounting method

Introduction: What is accrual accounting? The word “cruel,” in its most specific definition, means willfully causing pain or suffering to others. The accrual basis of accounting is considered a complicated accounting method that requires thorough attention to all financial activities...

Reading Time 4 mins
3.8 / 5 (4 voted)
Never Worry About Your Bookkeeping Again
Never Worry About Your Bookkeeping Again

Delegate your financial records to a highly qualified bookkeeper and forget about bookkeeping stress forever.

August 18, 2017

Charles Lutwidge
The Difference between Daybooks, Journals, Ledgers, and Other Record-Keeping Documents

The Difference between Daybooks, Journals, Ledgers, and Other Record-Keeping Documents

Should you record the sale you just made in accounts receivable, your daybook, or a general ledger? All? None? You can document financial transactions in a number of different records. Read on to clear up the confusion on which is...

Reading Time 2 mins
3.5 / 5 (2 voted)

June 12, 2017

Charles Lutwidge
How to meet your bookkeeping needs: employee, contractor, or firm?

How to meet your bookkeeping needs: employee, contractor, or firm?

Every business (and every nonprofit) needs bookkeeping services. There are a lot of options: you could hire a bookkeeper as an employee, contract the work out to an independent bookkeeper, work with a bookkeeping firm, or some combination of these...

Reading Time 5 mins
0 / 5 (0 voted)

May 02, 2017

Charles Lutwidge
Choosing an accounting method for your business

Choosing an accounting method for your business

One of an accountant’s basic goals is to keep accurate and useful records of financial transactions. Individuals, small firms, large corporations, and even whole countries faced with this task have two major methods from which to choose: the cash basis...

Reading Time 4 mins
0 / 5 (0 voted)

March 14, 2017

Charles Lutwidge
New I-9 form for 2017

New I-9 form for 2017

The I-What?  Since 1986, the federal government has required employers to certify the identity and legal employment status of their workers. This is done by use of the Employment Eligibility Verification Form — or as you may know it, the...

Reading Time 2 mins
0 / 5 (0 voted)

June 02, 2016

Charles Lutwidge
Bills vs. invoices: what is the difference?

Bills vs. invoices: what is the difference?

The words “bill” and “invoice” are often used interchangeably, but their meanings differ subtly. All invoices are bills, but not all bills are invoices.  What is a bill? A bill is a document that indicates how much a buyer owes to a seller....

Reading Time 1 mins
5 / 5 (1 voted)

March 28, 2016

Charles Lutwidge
What does “accounts receivable” mean?

What does “accounts receivable” mean?

Accounts receivable definition: “Accounts receivable” refers to money owed to you by your customers for goods or services that you have already provided to them. Your customers might be individuals, corporations, governments, or any other entity. If you’ve made a sale but haven’t gotten paid for...

Reading Time 1 mins
0 / 5 (0 voted)

March 16, 2016

Charles Lutwidge
A short primer on accounts payable

A short primer on accounts payable

Accounts payable definition: Accounts payable are your company’s short-term debts. Short-term debts are those that must be paid off within 1 year. The definition above is the one I’ll use in this article. However, “accounts payable” (abbreviated “AP”) is also frequently used to refer to the department...

Reading Time 1 mins
5 / 5 (1 voted)
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