18 years focused on bookkeeping Maxim Liberty, a leading bookkeeping service provider, is proud to celebrate its 18-year anniversary. Since its founding in 2005, Maxim Liberty has been committed to providing high-quality bookkeeping services to businesses of all sizes. “We are excited to celebrate our 18-year anniversary,” said S Krishnakumar, CEO of Maxim Liberty. “Over […]
FTC Safeguards Rule for Accounting & Bookkeeping
Outsourcing bookkeeping to a professional bookkeeping service provider can help small businesses save time and resources while ensuring that their financial records are accurate and up-to-date. However, outsourcing sensitive financial information to a third-party service provider also comes with its own set of risks. As part of the Gramm-Leach-Bliley Act, the Federal Trade Commission (FTC) […]
What is an Accounts Receivable Aging Report?
What is an A/R Aging Report? Accounts Receivable (A/R) aging report is a financial management tool that tracks outstanding customer balances and invoices. It shows the amount of money owed to a business, the length of time those debts have been outstanding, and how those debts are categorized. In simple terms, the A/R aging report […]
What is an Accounts Payable Aging Report?
What is an A/P Aging Report? An A/P aging report is a financial document that shows the outstanding invoices or bills that a company owes to its vendors or suppliers. It lists all unpaid bills and invoices, categorized by how long they’ve been outstanding. The report usually shows the invoices that are due within 30 […]
What is a Credit Memo?
Credit Memos: What They Are and How to Use Them If you’re a business owner or a bookkeeper, you’ve probably heard of credit memos. But what exactly are they, and how can you use them to manage your finances effectively? In this blog post, we’ll go over everything you need to know about credit memos, […]
How do you setup class tracking in QuickBooks?
When it comes to organizing business information, QuickBooks is a popular accounting software that provides efficient tools to help users manage their finances. One of the most powerful features in QuickBooks is the ability to create and use classes. Classes take financial reporting to a whole new level. Classes are a way to categorize transactions, […]
10 Key Benefits Of Outsourcing Your Business Bookkeeping Services
Are you tired of being buried in receipts and invoices, feeling like you need a degree in accounting just to keep up with your finances? Fear not! Outsourcing your Business Bookkeeping Services is the solution that you’ve been searching for. Not only will it give you more time to focus on what you do best, […]
Common Bookkeeping Challenges For Real Estate Businesses: Tips For Overcoming Them
For Real Estate businesses, Bookkeeping is an important part of running a successful operation. While it may seem straightforward, there are some common bookkeeping challenges, ranging from disorganized paperwork to inaccuracies in financial reporting. Fortunately, with the right strategies and techniques, you can overcome these challenges. In this article, we’ll discuss how you can overcome […]
Tips For Avoiding Common Bookkeeping Mistakes In Law Firms
Running a successful law firm involves a lot more than just providing legal services. You also have to manage the day-to-day operations, from marketing and client intake to human resources and accounting. Bookkeeping is also a vital component of any successful business, but it can be difficult for lawyers to stay on top of the […]
At what age should you start collecting social security – 62 or 70?
The decision to collect Social Security benefits is a complex one and depends on a variety of factors, including your financial situation, your health, and your life expectancy. You can start collecting benefits as early as the age of 62. However, if you can delay taking your benefits until the age of 70, you will […]