Category: Bookkeeping

  • Retained Earnings Explained Definition, Formula, & Examples

    This information, when used in conjunction with the income statement and balance sheet, provides a comprehensive view of a company’s financial health. Retained earnings are an essential aspect of a company’s financial health, representing the portion of net income not distributed as dividends but rather reinvested in the business. Understanding how to calculate retained earnings…

  • What is Public Accounting? Definition, examples and services

    Large companies may have their accounting departments for this complicated task, while small businesses and individuals use the accounting expertise of these public accounting firms. It is the process through which public accountants examine and verify a company’s financial records to ensure accuracy and compliance with accounting standards. The primary objective of an audit is…

  • The 10 Best Online Bookkeeping Services of 2022

    In the past, you’d hire a bookkeeper in your community—either an individual working for themselves or someone at a bookkeeping firm. Then, you’d deliver your financial transaction records each month, and they’d handle all the data entry for you. While FreshBooks doesn’t generate tax-time specific accounting reports, you can easily get all the information you…