Direct Write-off Method What Is It, Vs Allowance Method, Example
Allowance for Doubtful Accounts had a credit balance of $9,000 on December 31. Notice how the estimated percentage uncollectible increases quickly the longer the debt is outstanding. It seems counterintuitive to restore the balance to pay it off, but for recordkeeping purposes, it is necessary to restore the account balance and show the customer properly […]
How Much Does Bookkeeping for Small Businesses Cost?
This includes everything from bank reconciliation and accounts payable/receivable management to payroll processing and tax preparation assistance. In 2025, as technology continues to shape the bookkeeping industry, businesses can take advantage of new tools and services to streamline their financial management and reduce costs. In the previous section, we examined how the type of bookkeeper—freelancer, […]