Bookkeeping

For example, if a lawyer has $10,000 in their business account and $5,000 in their trust account, they would need to deposit the $5,000 into a separate trust account. The lawyer would then need to surrender any interest earned on the $5,000 to the client. For example, if the trust account statement…

Accounts Payable is a liability account, and thus its normal balance is a credit. When a company purchases goods or services on credit, it records a credit entry in the Accounts Payable account, increasing its balance. Conversely, when the company makes a payment on its account payable, it records a debit entry in the Accounts Payable account, decreasing its balance. By…

In addition, do not overlook the importance of transparency and control. You might have preferences for different software brands and applications—from accounting software to general office systems. This can create disruptions in workflow, difficulty sharing files, etc. This tax rate can vary not…

To provide the most comprehensive, in-depth, and specialized service available, BPB is affiliated with Provenance Wealth Advisors (PWA), BayBridge Real Estate Group, as well as Ori0n Real Estate Group. The firm is registered with the Public Company Accounting Oversight Board (PCAOB), and as a result of the AICPA membership, the firm regularly undergoes Peer Review…