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5 Accounting Equations Every Business Should Know

As a small business, you would prefer to handle your own accounting and have control over your accounting books. To manage your business transactions better, you should have a good grasp of these formulas. Being familiar with these formulas you can understand the health of your business. The asset accounting equation Assets are all the things that the company owns. …

4-Factors-You-Are-Likely-Overlooking-In-Calculating-Your-Sales-Margins

4 Factors You Are Likely Overlooking in Calculating Your Sales Margins

Profit margin is the right indicator of your business profitability. Measuring it with a simple formula like subtracting the cost of inventory from your actual retail sale will not give a clear picture of your true profit margins. Instead, speculate on various other metrics that relate to the calculations of sales and profit margins. While calculating the profit margins of …

Real estate, book keeping, Rules for Bookkeeping

5 Ground Rules Of Real Estate Bookkeeping

For any real estate business, proper bookkeeping is a critical aspect of the business. What is the main goal of bookkeeping? The main goal of the bookkeeping is to have a standard and accurate records of all your transactions. Bookkeeping provides a clear record of financial transactions for your business which is useful for future reference. It assures that you …

6-Types-of-Business-Entities

6 Types of Business Entities

It’s exciting to start a new business. The initial excitement is followed by a decision making phase where you have to decide which entity type your business belongs to. The entity type that you choose greatly affects the way you operate, so it’s important to know what suits you best. A business entity type defines the legal structure of your company. The type you choose will determine:  The …

How to Manage Financial & Bookkeeping Issues

Financial accounting and bookkeeping can be challenging tasks for Small and Medium Businesses (SMBs). Any misstep can cause serious issues that can cause multiple repercussions. However, you can use those mistakes as stepping stones to identify potential issues that may arise in the future, and work towards preventing them from occurring.    Here are four main financial and bookkeeping issues that need to be overcome to ensure a steady flow of revenue for …

3 Smart Moves To Improve First Year Depreciation in Real Estate

Real estate investments can be used maximize write-offs and minimize taxes. Investors can protect the income earned via rental real estate through depreciated deductions, especially in the first year leading to huge tax savings. This can be achieved in three different ways. 1. Cost Segregation Analysis According to the American Society of Cost Segregation Professionals, cost segregation study is “the …

4 Important Accounting Tips for New Real Estate Professionals

Real estate accounting is usually perceived as a tedious task, and pushed to the wayside. However, it is an invaluable activity that helps investors analyze the health of their operations, pay their taxes on time, and manage their income wisely. Therefore, all those in the real estate business need a strong understanding of the accounting and bookkeeping processes to improve …

Top 3 Bookkeeping Errors in Real Estate

The real estate industry has a number of operational issues that keep agents and investors busy throughout the day. There are issues related to rising interest rates, housing affordability, and policy changes that need to be dealt with on priority. There are sales and marketing activities that need to be pursued for new opportunities, and to sustain old ones. New …