Bookkeeping

Delinquent payments: what are they and how to manage them

admin2025-05-02T02:10:01+00:00Having missed two minimum payments, you will be in the day delinquency range, which means making one minimum payment will effectively cover the current month’s bill and keep you in that range. In other words, you won’t fall further down the delinquency slope, but your...

Waver or Waiver? Understanding the Differences

admin2025-04-03T11:33:57+00:00A waiver is a document recording the waiving of a right or claim. But you cannot waiver over having to waver — that waiver is a noun after all. The word waive with an i means to voluntarily give up a right that you’re permitted to...

Bookkeeping in Philadelphia PA

admin2025-04-09T23:20:29+00:00Paying bills can be a time consuming process - gathering, entering, categorizing, and then paying vendors. We will work with you to make sure bills are tracked accurately and your vendors are paid on time. Bookminders has devoted over 30 years to serving the nonprofit...

What does biweekly mean? Definition and examples

admin2025-04-08T13:54:19+00:00Semi-weekly dates to 1791 (the prefix semi- meaning ‘half’) and biweekly to 1865 (the prefix bi- meaning ‘two’). Biweekly is commonly used to mean both “twice a week” and “every two weeks.” To avoid confusion, it’s a good idea to clarify exactly which one you...

Comprehensive Guide to Mental Health Billing

admin2025-04-10T10:30:04+00:00 With virtual therapy sessions more common than ever, using the right modifier is essential for getting reimbursed for telehealth. Ever had a session with a new client, only to find out later their insurance won’t cover it? Now you’re stuck in the awkward position of...

Revenue Definition, Formula, Example, Role in Financial Statements

admin2025-04-06T12:21:34+00:00Comparing margins across companies and time periods highlights operational efficiencies. Fundamental analysis incorporates both revenue and net income trajectories to forecast future cash flows and stock valuation ranges. Understanding the distinct meanings and business contexts of Revenue and profit allows for a more accurate interpretation...

How to Create a Lasting Business Budget in 7 Steps

admin2025-04-02T08:50:57+00:00 In this approach, senior management defines the overall project budget, which is then distributed among teams and tasks. The focus is on ensuring strategic alignment with organizational goals. Once you have a clearer understanding of the costs, the next step is to structure Accounting...

Accounting Basics for Nonprofits A Primer for Non-Finance Leaders

admin2025-06-22T18:21:08+00:00 An income statement, also known as a profit and loss (P&L) statement, summarizes a company's financial performance over a specific period, typically a quarter or a year. It shows the company's revenue, expenses, and net income or loss, providing insights into its profitability and overall...

What is an Invoice Number? A Beginner’s Guide

admin2025-03-13T11:36:58+00:00 Critical documents like invoices impaired by errors reflect poorly on a company’s image and allow dishonest customers to evade payment. By adhering to the provided suggestions, businesses can navigate away from these challenges and ensure accurate and professional invoicing practices. Assigning invoice numbers helps tax...

Outputting the Cash Flow Statement Indirect method

admin2025-04-01T23:40:31+00:00If you use accounting software, it can create cash flow statements based on the information you’ve already entered in the general ledger. To convert the accrual based cost of goods sold figure from the income statement to a cash paid basis the business needs to...