Sales taxes are different from city to city, town to town, and state to state and as we know, calculation of taxes is not an easy task. Sales tax is generally calculated by multiplying the purchasing price by the applicable tax rate. The seller or vendor collects it at the time of the sale. […]
While real estate deals are often quite complicated, the actual accounting is comparatively easy. Let’s break it down here:- There are two key questions that you need to ask yourself to do the accounting properly for your real estate acquisition:- Are you developing or flipping a property for a future sale? Or, Do […]
Just over 53% of businesses have integrated the cloud into multiple aspects of their operations, such as client communication, project management, accounting, etc. With today’s valued-crazed and fast-paced business environment, accounting work is no longer limited to the traditional 9-5 job. Traditional accounting software is seen as cumbersome for small and medium businesses because […]
The Corona pandemic has placed unprecedented stress on the accounting and taxation processes. The epidemic has not only affected the field of business management, even businesses that were well-established organizations, performing in the market for so many years and which were considered highly stable against recession, were also adversely affected. Millions of people have lost […]
COVID-19 has left the very foundations of global financial markets in a state of recession. The effects of this epidemic are increasing day by day and the undisclosed arrival of the Corona outbreak has caused major losses to small accounting firms. At Mindspace US we provide accounting and outsourcing bookkeeping services for accountants. So today […]
Zapier, an automation tool, can help you tie together two or more web apps to leverage their functionalities in an almost automatic way. This essential time-saver tool assists accountants focus on their most important work by saving time through the means of automation. Much like any other tool, Zapier is also a part of […]
It’s the middle of 2020, and there’s no time like RIGHT NOW to get your money sorted. It is necessary to stay on top of your budget, but you have got to start somewhere, right? Sure, you know the ABC’s of sorting your finances, but sometimes it gets a little overwhelming, and you tend to […]
Virtual accounting departments are difficult to set up because of the logistics of obtaining and then returning the receipts of the departments you are trying to provide services for. In traditional accounting companies, you would have a drop and a physical location where companies and the organisations can deposit their receipts on a weekly and […]
Xero is the best accounting software globally. Xero accounting software provides many features that can help you analyze key parameters in a couple of minutes. Xero has grown from an accounting perspective to a small business, making banking relationships core to the small business community. The main features of Xero accounting software include automatic bank […]