After setting up your company file, it’s important to clearand zero out OBE to maintain accurate financial reports. Regularly reviewingand properly managing OBE ensures clean and reliable accounting data,preventing errors in your financial statements. Since opening balance equity serves as a temporary clearing account, it…

Total assets are also required to equal total liabilities plus equity (net worth or capital) of a law firm). As lawyers, we didn’t want to focus on the day-to-day of our firm’s accounting. They check-in with us weekly or more, and they maintain and upgrade…