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Category Archives: Bookkeeping

Reporting Requirements of Contingent Liabilities and GAAP Compliance

Tuesday, March 23, 2021

Whether the contingent liability becomes an actual liability depends on a future event occurring or contingent liabilities not occurring. Contingent Liabilities refer to the possible liability of the firm which may occur on some future date based on a contingent event that is beyond the company’s control. It is recorded by the company on its […]

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Debit Card Pending Correction from Wells Fargo Scam or Legit?

Monday, February 22, 2021

Customers have reported being told that the pending corrections are related to transactions that were attempted previously but did not go through initially. The bank assures customers that they will not be charged twice for these transactions. The issuing bank is like the cardholder’s personal assistant. It’s responsible for issuing the credit or debit card […]

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5 Best Outsourced CPA Services for Startups

Monday, January 11, 2021

Remember, VC-backed companies have different needs than traditional small businesses or solo entrepreneurs. Deferred Revenue is when a client pays you ahead of you delivering a service. For example, if you charge a client’s credit card for a 12-month subscription, contracts – you just got 12 months of bookkeeping and payroll services cash from that […]

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