GreenFoot

Official websites use .gov A .gov website belongs to an official government organization in the United States. For a summary of those rules, please see the new Form W-7 and its instructions. If you need an ITIN, find out how to get the state’s Excluded Workers Fund payments. Forms & Instructions To obtain an ITIN, …

Am I eligible to apply for an individual taxpayer identification number? Internal Revenue Service Read More »

In this case, payment is expected to be made after a service is provided or completed—not before. You may have come across the term “paid in arrears” when managing your small-business accounting, but do you know what it means? Understanding arrears accounting is important so that you have an idea of how such payments are …

What Does Paid in Arrears Mean? Read More »

By transferring all accounting responsibilities to an external provider, businesses can free up internal resources and focus on core what qualifies as a lease operations. This comprehensive outsourcing can streamline processes and ensure that financial management is handled by professionals with the right skills and technology. Along with offering the typical outsourced bookkeeping services, AccountingDepartment.com …

The Ultimate Guide to Outsourcing Your Bookkeeping Work: Streamline Your Finances for Success Read More »

Controls are also created to assure that the balances of the receivables are correctly stated and that debtors are correctly billed. In this example, a client settles a $1,000 invoice, resulting in a decrease in accounts receivable and a corresponding increase in cash. Efficiently processing these payments is essential for accurate financial records. Below, we …

What is Accounts Receivable? The process, KPIs and metrics that matter Read More »