Advanced Bookkeeping

Advanced bookkeeping addresses complex entries, monthly closings, ledger reconciliations, discovery of errors and advanced report writing. When a bookkeeper can demonstrate these skills they are tending more as an accountant than a bookkeeper.

Bookkeeping – Cafeteria Plans (Lesson 92)

Cafeteria Plans

Cafeteria plans, a.k.a. Section 125 plans, are employer sponsored benefit packages that allow employees to choose from a menu of options and allocate their allotted share to the items they pick. With this type of plan the employer agrees to an allowance per employee to contribute to the package. The employee may either take the allowance as additional cash income (fully taxed) or allocate the amount among the various benefit options.

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