If you paid dividends for the month, you will need to close that account as well. Instead the balances in these accounts are moved at month-end to either the capital account or the retained earnings …

It’s important to keep accurate balance sheets regularly for this reason. Shareholder equity is the money attributable to the owners of a business or its shareholders. It is also known as net assets since it …

A financial professional will offer guidance based on the information provided and offer a no-obligation call to better understand your situation. Our writing and editorial staff are a team of experts holding advanced financial designations …

Instead, businesses pay for their needed services, reducing overhead costs and maximizing financial resources. Outsourcing your bookkeeping can save time, reduce errors, and provide expert financial management, allowing you to focus on growing your business. …