Summit Bookkeeping

As an employer in Washington state, you are most likely required to pay unemployment taxes.

The Federal Unemployment Tax Act (FUTA) is a legislation that imposes a tax on employers used to allocate funds for unemployment.

Reconciling a bank account is the process of comparing your bookkeeping records to your bank statements.

What is Accounts Payable and Accounts Receivable Accounts payable and accounts receivable are costs and income that have been accrued but...

As a business owner in Washington state, you may need to report and pay sales tax to the Washington State Department of Revenue (DOR). If...

The method that may be best for your business varies based on your business activities. 

The Accounting Cycle helps you turn your financial information into financial statements that you can use to manage and grow your business.

Once you’ve created your financial statements, it’s time to close your books. What Does it Mean to “Close the Books?” Closing your books...

The three main financial documents are: 1. Balance Sheet 2. Profit and Loss (P&L) or Income Statement 3.Cash Flow Statement.