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Even if a purchase isn’t categorized as a miscellaneous expense in the end, it’s still important for your accountant to have a clear paper trail of all transactions. They don’t directly support operations, though they are typically unavoidable and not a recurring expense that falls into a defined category. This might include an emergency repair …

Understand Miscellaneous Expenses and Properly Record them Read More »

We use Plaid, which lets you securely connect your financial accounts to Bench in seconds. This feature saves you the time and effort of manually uploading documents. Our team of pros is familiar with Virginia tax rules and will customize their approach to your business’ unique needs. If you’re facing an IRS audit, we’ll stand …

Bookkeeping Services for Arlington, VA Businesses Read More »

Running north to south through the state are the Cascade Mountains, an area of major highs and lows. These include Mount Hood, Oregon’s highest point at 11,245 feet, and Crater Lake, the deepest lake in the United States at a depth of 1,943 feet. To the east of the Coast Range lies the Willamette Valley, …

Large Detailed Tourist Map of Oregon With Cities and Towns Read More »

It notes all company operating expenses in two categories that are Selling and Administrative. The single-step income statement skips the calculation of gross profit and operating profit, instead focusing on the bottom line– net income. The multi-step income statement calculates gross profit, operating profit, and net income. Single Step vs Multi Step Income Statement Following …

Multi Step Income Statement Example Template Explanation Read More »