SunPod

You will want to decide if it is best to save money by doing it yourself or spending a little more on a professional so you can focus on growing the business Certified Bookkeeper in other ways. This means that you don’t record an invoice until it is actually paid. Similarly, you don’t notate outstanding bills until you actually pay them.

• Having served 35,000+ startups and small businesses, it combines expert one-on-one support with powerful tools for real-time financial insights.
• Timely responses help your bookkeeping team keep your books up to date and avoid delays.
• 1-800Accountant is a nationwide virtual accounting firm that will handle all of your accounting needs, from bookkeeping to tax preparation and filing.
• Cash basis accounting records income when you receive it and expenses when you pay them.

Do I Need An Accountant For My Startup?

• That’s why using accounting software from the get-go is a smart move.
• Additionally, it is limited in the bookkeeping services it offers, so we couldn’t award a higher mark as it lacks invoicing and bill pay services.
• From quarterly estimated payments to the critical April 15th deadlines and beyond, we ensure you never miss a beat.
• What you do each day, week, or month will depend on the volume of your business transactions and the complexity of your finances.
• If they don’t provide tax support or seem unclear about it, you might want to keep looking.
• FreshBooks’ online bookkeeping services help you protect your profits, save you time, and grow your business.

Accounting systems and bookkeeping software like FreshBooks have a chart that lists all your accounts payable and their categories. For example, you can post all sales to income accounts and cash outflows to expense accounts. Kruze is committed to New York City’s startup scene, bringing Silicon Valley tax, CPAs and expertise to NYC based startups.

Features

• Many governments offer tax incentives to startups to promote innovation and economic growth.
• It integrates seamlessly with QuickBooks, Gusto, and Expensify while offering tax filing, R&D credits, and CFO-level guidance.
• You will also be required to pay a “clean-up fee” to begin your bookkeeping membership; however, this price is dependent on tax filing status, sign-up month, and business start date.
• This type of accounting is more involved but will give you a clearer outlook of the business’s future picture.
• You might assume the accountant knows exactly what you need, but unless you clearly communicate your goals and expectations, things can get missed or misunderstood.
• Online bookkeeping is an important solution for small businesses looking to outsource their financial upkeep and management.

Its low flat-rate fee and 100% money-back guarantee are also attractive features. You can use its monthly financial reports to assist with filing taxes, and it provides a simplified issuance and electronic filing of 1099s for your contractors at an additional fee. You’ll want to look for an online bookkeeping service that will allow you to scale without repercussions.

Daily, Weekly, and Monthly Tasks

No matter which approach you choose, investing in reliable accounting software is essential. Even if you handle some tasks yourself, the right software can streamline processes, improve accuracy, and save you money over time. If you’d like expert advice on accounting automation and software solutions, What is Legal E-Billing explore FinOptimal’s managed accounting services or connect with our team through our contact page. We can help you find the right tools and strategies to manage your accounting expenses effectively.

Best for Unlimited Support

We then gave each criterion a weighted score and landed on a final star rating out of five. If you’re not sure your business needs round-the-clock bookkeeping services and instead you’d prefer to opt for an as-you-go plan, we like Bookkeeper360. The online bookkeeping service is upfront with its pricing and allows you to commit to a flat monthly fee of $49 and an hourly rate of $125 for support when you need it.

Episode 274 hören ( (ca. 31 Minuten)

Letzte Woche habe ich in Witten mit Hans-Christoph Vahle gesprochen, der seinen Beruf als Pflanzensoziologe als vom Aussterben bedroht ansieht, da in unserem materialistischen Zeitalter, in dem mehr auf Details geschaut und das Ganze aus den Augen verloren wird, die Universitäten diese Ausbildung nicht mehr anbieten. Deshalb hat er die Akademie für angewandte Vegetationskunde gegründet, in der er die Pflanzensoziologie fortführt und in die Anwendung hinein erweitert. Seit 2015 bietet er eine Ausbildung “Pflanzensoziologie und Feldbotanik” an, die regen Zulauf erfährt.

Ich habe in unserem Gespräch gelernt, dass die Kulturlandschaft, die die Bauern über Jahrhunderte durch regelmäßige extensive Bewirtschaftung geschaffen und erhalten haben, wesentlich artenreicher ist als beispielsweise der Wald, und deshalb wünscht Christoph Vahle sich eine lebendige, gesunde und vielfältige Landwirtschaft, wie sie beispielhaft unter seiner Beratung auf dem Hof Sackern in Wetter praktiziert wird.

Um die biologische Vielfalt in der Kulturlandschaft wirkungsvoll zu steigern, hat Christoph Vahle das Konzept der “10 Biotope für die Biodiversität der Kulturlandschaft” entwickelt, das eine Teilnehmerin seiner Ausbildung so inspiriert hat, dass sie in ihrem Dorf Leveste bei Hannover ein Projekt gestartet hat, in dem sämtliche 10 Biotope vom Lichtrasen über artenreiche Äcker bis zum Teich alle nach und nach aufgebaut werden.

Links:
Akademie für angewandte Vegetationskunde
Hof Sackern
Projekt “10 Biotope – Leveste blüht auf”

Episode 273 hören ( (ca. 27 Minuten)

Letzte Woche habe ich in Essen die Bauingenieurin und Heilpraktikerin Heike Goebel getroffen, die sich einen großen Traum erfüllt hat und mittlerweile gemeinsam mit einem 40köpfigen ehrenamtlichen Team Menschen in Armut und Not kostenlos behandelt.
Ihr Ansatz ist so erfolgreich und auf der Höhe der Erfordernisse unserer Zeit, dass es schon zwei Jahre nach Gründung ihres Vereins Filialen in in Köln, Düsseldorf und Duisburg gibt, und bald noch welche in Schwerin und Göttingen eröffnet werden.

Wie und warum Heike Goebel zusätzlich zu ihrem Beruf als Bauingenierin noch Heipraktikerin geworden ist und inzwischen hochprofessionell ein Netzwerk im Bereich der medizinischen und psychologischen Hilfe leitet und dabei automatisch den Schwächsten der Gesellschaft, auf deren Nöte der gewinnorientierte medizinisch-industrielle Komplex keinerlei Antwort hat, Sozialarbeit und Seelsorge angedeihen lässt, das erzählt sie uns in diesem Interview.

Link: Naturheilpraxis ohne Grenzen

Episode 272 hören ( (ca. 27 Minuten)

Vergangene Woche war ich in Essen, um mir von Ali Can und Reinhard Wiesemann das Anfang 2019 eröffnete VielRespektZentrum vorstellen zu lassen. Auf ihrer Website kann man die Grundidee nachlesen: “Wir helfen denen, die sich gemeinnützig für Vielfalt und Respekt einsetzen, indem wir ihnen optimale Arbeitsbedingungen in Form von Büros, Technik, Konferenz-, Seminar- und Vortragsmöglichkeiten bieten.”

Wer unserem Podcast schon länger folgt, mag sich daran erinnern, dass ich bereits 2012 ein Interview mit Reinhard über sein Unperfekthaus aufgenommen habe, das schon damals frischen Wind in die nördliche Essener Innenstadt gebracht hat.

Links:
VielRespektZentrum Essen
SunPod-Interview 055 mit Reinhard Wiesemann über das Unperfekthaus

Episode 271 hören (ca. 28 Minuten)

Vor einigen Wochen habe meine handwerklichen Fähigkeiten im Kloster Esthal ausprobiert und mit Hilfe von Dirk und Lothar meine Ukulele zusammen mit 5 weiteren Teilnehmern, die auch ihre eigenes Musikinstrument gebaut haben, gefertigt. Auf Dirks Angebot wurde ich vor rund 2 Jahren aufmerksam, als er auf der Ruhrkulele 2018 dies präsentiert hat. Lothar unterstützt Dirk beim Anleiten der Teilnehmer.

Das Kloster liegt im Pfälzer Wald und bietet eine sehr ruhige Umgebung, wo wir mit unseren Holzarbeiten akustisch durchaus aufgefallen sind. Andere Gäste, welche sich vereinzelt über die Lautstärke bei den verbleibenden Nonnen beschweren, werden darauf verwiesen, dass Jesus auch Zimmermann war.

Schnell musste ich feststellen, dass die Bearbeitung des Holzes körperlich wesentlich anstrengender ist als meine tägliche Büroarbeit am Computer. Aber es war ein schönes Erlebnis am Ende des Tages sein Tagwerk zu sehen, entgegen der gewohnten Arbeitswelt.

Unter den Teilnehmern hat sich schnell eine Gruppendynamik entwickelt, da die einzelnen Arbeitsschritte zu unterschiedlichen Zeiten ausgeführt wurden. So gab es meist jemanden in der Gruppe, den man nach Details fragen konnte, da Dirk nicht überall gleichzeitig sein konnte.

Am Abend gab es täglich das Angebot zum gemeinsamen Musizieren mit Gitarre, Ukulele und Gesang, was eine schöne Ergänzung zur gemeinsamen Arbeit war.

Dirk hat mir am Abreisetag ein Interview gegeben, in dem er in den ersten 18 Minuten erzählt, wie er auf die Idee gekommen ist einen Ukulelenbaukurs für Laien abzuhalten und welche Optionen er den Kursteilnehmern anbietet. Bestimmt werden selbst Musiker unter Euch noch Neues über Klangholz erfahren.

Im zweiten Teil erzählt er Euch, wie Holzarbeiten und Baumkunde zur positiven Entwicklung von ruhigen Schülern beitragen können und warum dies wichtig für unsere Gesellschaft ist.

Links:
Kloster Ukulelen
Kambium-Kids
Kloster Esthal
Sunpod-Interview 243 RUhrkulele 2018 mit Michael Epke-Wessel

Organizations can achieve up to 95% journal posting automation with a pre-filled template, reducing errors and discrepancies and providing a reliable view of financial data. Automation transforms the process of closing entries in accounting, making it more efficient and accurate. By leveraging automated systems, businesses can ensure that all tasks related to closing entries are handled seamlessly, reducing manual effort and minimizing errors.

Step 1: Close all income accounts to Income Summary

Other accounting software, such as Oracle’s PeopleSoft™, post closing entries to a special accounting period that keeps them separate from all of the other entries. So, even though the process today is slightly (or completely) different than it was in the days of manual paper systems, the basic process is still important to understand. All Temporary accounts (Revenues, Expenses, and Owner’s Draw accounts) are closed each month using Closing Entries. This brings the account balances for Revenue, Expenses, and Owner’s Draw to a zero balance moving into the new accounting period. Both closing and opening entries record transactions, but there is a slight variation in their purpose. Now when https://www.bookstime.com/ the curtain falls, closing entries waltz in for the finale – they’re the stagehands who reset everything after the performance.

• We need to do the closing entries to make them match and zero out the temporary accounts.
• The income summary account is a temporary holding account used to consolidate income accounts, excluding dividend expenses.
• Let’s explore each entry in more detail using Printing Plus’sinformation from Analyzing and Recording Transactions and The Adjustment Process as our example.
• This step reflects the company’s profit or loss in the equity section of the balance sheet.
• This resets the income accounts to zero and prepares them for the next year.
• Apart from the guidelines, there are strict auditing rules to protect and ensure the integrity of the numbers being reported for any accounting period.

Practice Question: Preparing a Closing Entry

After the closing journal entry, the balance on the drawings account is zero, and the capital account has been reduced by 1,300. The purpose of the income summary is to show the net income (revenue less expenses) of the business in adjusting entries more detail before it becomes part of the retained earnings account balance. Closing entries are crucial for maintaining accurate financial records. HighRadius has a comprehensive Record to Report suite that revolutionizes your accounting processes, making them more efficient and accurate.

Closing Entries Explained: Key Steps & Examples

The term “net” relates to what’s left of a balance after deductions have been made from it. HashMicro is Philippines’ ERP solution provider with the most complete software suite for various industries, closing entries customizable to unique needs of any business. Moreover, HashMicro integrates seamlessly with CRM and inventory modules, offering a complete solution for business needs.

• Closing entries play a vital role in preparing accurate financial statements by resetting temporary accounts for the next period.
• In the realm of sole proprietorships and partnerships, drawing accounts are integral.
• Adjusting entries, an essential component of account reconciliation, are like your meticulous preparations before a play – you’re setting the stage, getting the lighting right, and ensuring every actor knows their cues.
• Temporary accounts, such as revenues, expenses, and withdrawal accounts, are used to track financial activities within a specific period and do not carry over to the next year.
• Learning how to navigate these transactions is a key concept in any comprehensive accounting course.

Step #1: Close Revenue Accounts

• For an easier and faster closing process, HashMicro’s accounting software is here to help.
• In accounting terms, closing entries reset the accounts to zero to get ready for the next accounting cycle.
• This is where you’ll transfer all the revenues and expenses, a process that simultaneously resets your income and expense accounts to zero for the new period, similar to taking a snapshot of your financial health.
• Closing entries are necessary to reset the balances of temporary accounts to zero and to update the Retained Earnings account.

The total debits must equal total credits, confirming the accuracy of the closing process. So, if the closing entries journal is not posted, there will be incorrect reporting of financial statements. And not having an accurate depiction of change in retained earnings might mislead the investors about a company’s financial position. If dividends were not declared, closing entries would cease atthis point. If dividends are declared, to get a zero balance in theDividends account, the entry will show a credit to Dividends and adebit to Retained Earnings. As you will learn in Corporation Accounting, there are three components to thedeclaration and payment of dividends.

• To close expense accounts, credit each expense and debit the Income Summary account.
• The purpose of the closing entry is to reset temporary account balances to zero on the general ledger, the record-keeping system for a company’s financial data.
• Now, all the temporary accounts have their respective figures allocated, showcasing the revenue the bakery has generated, the expenses it has incurred, and the dividends declared throughout the past year.
• This is where accounting software or automated tools, like Xenett, come in handy.
• Expense account balances are credited to reset them to zero, with corresponding debits made to the Income Summary account.
• These accounts carry forward their balances throughout multiple accounting periods.
• To make them zero we want to decrease the balance or do the opposite.

Impact on the Balance Sheet and Income Statement

Imagine applying the power of fintech to transform the tedious chore of closing entries into a sleek, automated process. With the advent of cutting-edge accounting software, the laborious task of manual tallying is becoming a thing of the past. These sophisticated tools use advanced algorithms to categorize income and expenses, match transactions, and prepare the closing entries with precision – all with just a click and at the speed of electrons.

Consolidation & Reporting

In this guide, I’ll walk you through the ins and outs of closing entries, using real-world examples to illustrate the process. Because most accounting is done now using accounting software, Closing Entries happen behind the scenes. If an Income Statement or Balance Sheet is needed for a particular month, the report is generated by specifying the dates of the information required.

Notice that the balances in the expense accounts are now zeroand are ready to accumulate expenses in the next period. The IncomeSummary account has a new credit balance of $4,665, which is thedifference between revenues and expenses (Figure5.5). The balance in Income Summary is the same figure as whatis reported on Printing Plus’s Income Statement. The second entry requires expense accounts close to the IncomeSummary account. The accounts that need to start with a clean or $0 balance goinginto the next accounting period are revenue, income, and anydividends from January 2019.

Common Scenarios: From Revenue to Owner’s Equity

This means your income statement accurately reflects how the business performed during that period—no more, no less. Let’s say you’re closing books for a manufacturing company, and dividends of $10,000 were declared and paid. Well, if you don’t close these accounts, you’ll mix up this year’s sales and expenses with next year’s. You’d never know exactly how your business performed over each period. Closing entries might sound technical, but think of them as a necessary reset for your accounting books at the end of each period—be it monthly, quarterly, or annually. If you’re reading this, you likely want to understand closing entries in accounting—and I’m here to help.

Episode 270 hören ( (ca.42 Minuten)

In Wuppertal-Ronsdorf hat 1888 Georg Arends eine Staudengärtnerei eröffnet, in der ich dessen Urenkelin, die Gärtnerin und Gartenarchitektin Anja Maubach vergangene Woche getroffen habe, welche die klassisch handwerklich arbeitende Gärtnerei nun in der vierten Generation leitet – ein wenig “old school”, wie sie sagt.
Bei der Gelegenheit hat sie mir erzählt, was ihr dabei wichtig ist, was sie an Eigenem in diese Traditionslinie einbringt, und dabei fallen Begriffe wie “beseelte Pflanzen”, “Mutter Erde” oder die “heilsame Kraft alter Gärtnereien”.
Anja Maubach legt Wert darauf, dass die Menschen, die zu ihr kommen, bei ihr die Pflanzen finden, die ihnen gut tun und über die sie sich lange freuen können, und wir erfahren einiges über die Bedeutung des Gärtnerns in unserer Zeit.
Es versteht sich von selbst, dass an diesem Ort nur mit biologischen Methoden gedüngt und Pflanzenschutz betrieben wird, und wer ein paar kräftige Stauden für den eigenen Garten sucht, sollte viel Zeit mitbringen, um das riesige, 2 Hektar große Gelände in Ruhe zu durchwandern und den besonderen, nährenden Geist in sich aufzunehmen, der an jeder Ecke zu spüren ist.

Links:
Staudengärtnerei Anja Maubach
Wikipedia-Beitrag zu Christopher Alexander

listen to episode 269 (approx. 17 minutes)

This is the last interview I had recorded at the CONSOLFOOD2020 conference in Faro.

Jean-Jacques Serra worked for some decades at the solar furnace in Odeillo in the South-West of France. With his large parabolic mirror of 45 kW power he researched the behaviour of materials at very high temperatures which can only be reached by concentrating sunlight.

Not far away from there, in Sorède, there is the home of the “Friends of Father Himalaya Association”. They have build a replica of a solar furnace that a portuguese priest, whose nickname was “Father Himalaya”, had constructed at the beginning of the 20th century. Jean-Jacques Serra is a member of this association and tells us the story of Father Himalaya and the replica.

Links:
Association des Amis de Padre Himalaya
CONSOLFOOD – Advances in Solar Thermal Food Processing

listen to episode 268 (approx. 33 minutes)

Prof. Elmo Dutra Filho was caught by the solar cooking virus many years ago, when he experienced that the simple CookIt panel cooker was able to boil water.
First he focused on parabolic cookers, but after a workshop with Prof. Celestino Ruivo five years ago he was convinced, that this cheap cooker is the better device for the poor people in the favelas.

The community had paid for his studies at the university and now he found his way to give this back to the community by teaching poor people how to cook with the sun.

And he gives his best to make solar cooking more popular in Brazil as almost nobody there uses solar cookers.
Elmo told me his story after the CONSOLFOOD2020 conference in Faro in January 2020.

Links:
Elmo’s website Fogão Solar
CONSOLFOOD – Advances in Solar Thermal Food Processing

listen to episode 267 (approx. 36 minutes)

Right from the start solar cooking had one big problem: how can we cook when there is no sunshine? Many people around the world have their principal dish in the evening and this raises the question: how can we store the heat we have collected during the day?

Prof. Antonio Lecuona-Neumann from Carlos III University in Madrid tells us in our interview how he tries to find answers by researching phase change materials and photovoltaics. And as a professor of thermal engineering he has the rare gift of being able to explain complicated topics in a simple way. You may find this out in this episode.

Links:
Prof. Antonio Lecuona Neumann at Universidad Carlos III de Madrid
Papers
CONSOFOOD – Advances in Solar Thermal Food Processing