Team One Accounting is Orange County’s Local Bookkeeping Service! Our bookkeepers will help business owners understand, What exactly is an Audit?

The word “audit” can be thrown around a lot in casual conversation. When an accounting professional uses it, it means something very specific. Today we’ll talk about a variety of meanings, focusing on the most important ones for our clients: Financial Audits and IRS Audits! Financial Audit A financial audit is an official service designed…

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Team One Accounting is Orange County’s Local Bookkeeping Service! Our bookkeepers will help businesses understand Equity.

Understanding Equity on the Partnership Balance Sheet The equity section of a business’s balance sheet is the most difficult part to understand. We help our clients understand that the accounts that make up this section vary depending on the type of entity in which their business is structured.We’re going to dive into what the equity…

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Team One Accounting is Orange County’s Local Bookkeeping Service! Our bookkeepers will help businesses understand Accounts Payable.

All businesses, no matter their size, have bills to pay. The larger the business, the more formal the accounts payable process tends to be. That doesn’t mean small business owners can’t benefit from a formal accounts payable process. We help our clients categorize payments and purchases, helping to weed out any incorrect billing that may…

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