Form 1120S is required annually of every S corporation (S-corp). The return includes a combination of financial information and questions the IRS will use to determine potential tax liabilities. We’ll cover how to enter the financial information and do an in-depth dive into the questions…

Unlike cash dividends, which are forfeited if not paid, you receive cumulative dividends that follow another approach. If cumulative dividends are not paid, companies must make it a priority to compansate shareholders by providing the missed dividends. These accrued dividends continue to increase over time…

Building an effective accounts receivable management is critical to maintaining a positive cash flow and fostering a successful customer relationship. It involves a range of tasks like onboarding new customers, evaluating their creditworthiness, facility life cycle cost model issuing invoices on time, and timely collection…

In some cases, your cleanup may take longer depending on timeliness of documentation and the complexity of your books. While the numerous options seem intimidating at first, each version of QuickBooks is designed to reach a certain business size and type. If you want a…

The account is usually listed on the balance sheet after the Inventory account. A current asset which indicates the cost of the insurance contract (premiums) that have been paid in advance. It represents the amount that has been paid but has not yet expired as…