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Let ABS in Bermuda handle your bookkeeping and accounting requirements. Our experienced team provides flexible services tailored to your business needs and budget. We are a highly cost-effective solution for small to medium size businesses providing expert guidance and advice regarding all aspects of business in Bermuda, particularly employment and payroll tax issues.
For more information, please visit our website.
An employee is not considered a student unless they are currently registered in a full-time education program. All standard benefits/costs are the responsibility of the employer.
A portable file is a compact copy of your company file small enough to email or save to portable media. A backup file is a complete copy of all information and includes transaction logs that may be used by an Intuit technician to restore damaged data. It contains everything you need to re-create your company file in case of accidental loss of data but it is very large – too big to email.
Quickbooks is an excellent choice for preparing payroll here in Bermuda. Provided it is set up correctly initially (you may need professional assistance), it is very quick and all your expenses and liabilities are recorded at the same time.
These costs can be capitalized and expensed over the life of the office lease – spreading the costs throughout the time you occupy this office space.
Quickbooks has an excellent timesheet section which, once time is posted, can automatically be transferred to an invoice for your customer. Expenses can also be tracked with the customer’s name and added to their invoice. Quickbooks will report on any unbilled time and costs. Timesheet data can also be used to prepare payroll for your employees. (ie. Time is entered once but can be used to automatically generate invoices and payroll)
Set up an account to post all the things you are unsure about in one place and then get professional assistance to review these transactions.