Appel CPA

Bookkeeping is imperative to running your business smoothly. These 3 important documents will help you operate the backend properly. 1) Have a balance sheet. This will show you your liabilities, assets, and equity. 2) Keep a profit and loss statement. This helps you identify if your company is profitable or not. 3) Maintain a cash flow statement. This keeps track of where all the money is going. Focus on your business and leave the bookkeeping up to us. Contact us today at (503) 643-9000.

In cash-based accounting, companies document revenue when money is received. They record expenses when the cash is paid. Cash-based accounting is perfect for smaller businesses and professional service firms that do not hold inventory. In accrual accounting practice, income is reported when earned not when cash is received. Expenses are documented when money is incurred not actually paid. Accrual-based accounting is suitable for significantly larger and more complex businesses with inventory or shareholders and investors. Do you have accounting questions? We have the answers! Talk to us at (503) 643-9000.

Parents often worry that discussing their financial situation with their children will cause undue stress. In reality, being open and honest about your family’s finances can help improve their understanding of budgeting and spending responsibly. It will also help prepare your child for the ups and downs of their own financial future. Contact us today at (503) 643-9000.