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Sales and Collection Reconciliation

Sales and Collection Reconciliation

THE COMPANY AND THE ASK: The company is a quick-service restaurant and operates three stores in the state of California. The company also operates its business through online food delivery platforms, including DoorDash, Uber Eats, and Grubhub. Additionally, the...
Accounts Payable Migration – Streamlining ERP Transition

Accounts Payable Migration – Streamlining ERP Transition

CLIENT BACKGROUND One of our clients recently merged with another company. Among other changes, the event of the merger also triggered a transition to a new Enterprise Resource Planning (ERP) system. As their trusted accounting advisory team, we were tasked with the...
Transition from C-Corp to S-Corp

Transition from C-Corp to S-Corp

The Company and the Ask The Company intended to change its tax status from being a C-corporation (“C-Corp”) to an S-corporation (“S-Corp”) for tax planning. In general terms, C-Corp and S-Corp are two types of corporations that differ in taxation and ownership. A...
Bookkeeping Essentials

Bookkeeping Essentials

Knowcraft Analytics – where excellence in financial management meets unparalleled expertise in bookkeeping solutions. As a leading provider of U.S. accounting outsourcing services, we understand the pivotal role of bookkeeping in driving business success. In...
What Is U.S Accounting: A Comprehensive Guide 

What Is U.S Accounting: A Comprehensive Guide 

Accounting is a critical function for businesses operating in the U.S. A strong understanding of U.S. accounting principles and practices is essential for any organization, from tax compliance to financial reporting. This comprehensive guide covers the key aspects of...
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