Similarly, the iPhone maker, whose fiscal year ends in September, had $70.4 billion in retained earnings as of September 2018. Retained earnings and profits are related concepts, but they’re not exactly the same. For the past 52 years, Harold Averkamp (CPA, MBA) hasworked as an accounting supervisor, manager, consultant, university instructor, and innovator in teaching...Read More

To diagnose and correct inaccurate debit balances, start with a thorough health check of your accounts. Pour over every transaction and match them against receipts and bank statements. Investigate it like a financial detective—could it be a duplicate entry, an unrecorded payment or something else entirely? Once identified, apply the remedy swiftly by adjusting the...Read More

Whether the individuals you serve need help organizing their financial documents, managing bills, or navigating complex financial transitions, our Client Advocates are here to provide compassionate, hands-on support. Having both a bookkeeper and an accountant ensures your business’s finances are meticulously managed, from the daily transactions to the overarching financial strategy. It can provide a...Read More

Our expert team will ensure that your financial documents are accurately recorded and efficiently managed within your chosen accounting software. Yes, expert bookkeeping in the Bay Area, and the rest of the state, is critical to the success of your business, but devoting in-house resources to bookkeeping is extremely inefficient for most businesses. On one...Read More

Real accounts typically remain open for longer than one accounting period. They carry balances at the end of the fiscal year and accounting basics appear on the balance sheet. All assets and liabilities are recorded on the books as real accounts. Because Direct Delivery received $10, it must debit the account Cash. The second account...Read More