Here are 10 accounting mistakes business owners commonly make and the reasons why these errors—both calculated and inadvertent—can be so detrimental. 1. Falling Behind in Entries and Reconciliation Time is definitely not on the side of the small business owner, especially when there may be daily fires to put out. Suddenly, months have passed without making […]
Minimum salary hike next year, what are your options? Sure everything is getting more expensive these days and so are the employees. A recent research shows that the minimum salary is getting hike by 4% in 2015. Out of 70 companies, 63 companies said that they are willing to hike the minimum wages for the […]
Every taxpayer aims to minimize tax liability and keep as many of those hard-earned dollars as possible. One way to do that is to maximize your itemized income tax deductions. Some commonly asked questions CPA’s get are–Can I deduct anything else? Am I missing anything? I would like to let you in on the secret […]
There is often a misconception that data entry, bookkeeping and accounting are the same disciplines. The chart below identifies the different duties of these 3 roles. And at TWO DOTS, we are bookkeepers helping our clients and professionals fulfil their requirements. Setup Data Entry Bookkeeper (TWO DOTS) Accountant Appropriate accounting software set up – Yes […]