For example, a discrepancy could be due to a check that hasn’t cleared yet or a deposit that was made after the end of the statement period. Once all outstanding items have been reconciled, you should have a matched balance between your bookkeeping records and bank statement. Once imported into your system, you can categorise […]
Category Archives: Bookkeeping
Again, the proceeds from the sale of your house or other real estate aren’t necessarily taxable, so do your homework. If you got distributions from a pension, retirement plan, profit-sharing program, an IRA or an annuity, you might receive a 1099-R. One of the most common flavors of this form, the 1099-DIV reports dividends you […]
For instance, the failure to secure adequate, sustainable financing can leave a company vulnerable when market conditions shift—highlighting the pitfalls of both economic and political uncertainty. Sometimes, a fundamental overestimation of the company’s value or underestimation of the post-acquisition challenges can lead to disaster. Similarly, management teams can sometimes draw the ire of owners by […]
This type of asset requires meticulous record-keeping and transparent reporting to demonstrate adherence to the donor’s long-term vision. The management and reporting of unrestricted net assets carry significant implications for various stakeholders within a nonprofit organization. For donors, the transparent handling of these funds can build trust and encourage continued or increased contributions. How to […]