SDO CPA LLC
18 years of experience
Bobby Huang is a partner at SDO CPA. 18 years of hands-on bookkeeping. He still reconciles real client books and built Growthy from the same review-and-approve work bookkeepers do each week.
Accumulated depreciation is the running total of all depreciation charged against a fixed asset. It reduces the asset's carrying value on the balance sheet.
Owner's equity is what's left after liabilities. Here's how bookkeepers track it across sole props, LLCs, S-Corps, and C-Corps.
Net income is the bottom line of the P&L. Here's the formula, how it differs from gross profit and EBITDA, and where it flows at year-end close.
Every transaction hits at least 2 accounts. Credits and debits are the left/right columns that keep books balanced. Here's what that actually means.
The cash flow statement reconciles net income to actual cash movement across operating, investing, and financing activities.
Assets = Liabilities + Equity. Learn the 3-section structure, the bookkeeper review sequence, and 4 red flags every month.
Gross profit = Revenue minus COGS. It sits at the top of your P&L and shows whether your core product or service actually makes money.
Amortization has two meanings in bookkeeping. Here's what each one means and how to record both correctly at month-end.
Every transaction in double-entry accounting lives in a journal entry. Here's what's in one, the 4 types bookkeepers use, and when to hand-key vs let software handle it.
Fixed assets are long-lived tangible items capitalized at cost. Here's how bookkeepers track them: FA register, addition entries, monthly depreciation, and disposal.
Cash is in the bank but the work isn't done yet. Here's why that's a liability, not revenue, and how bookkeepers track every dollar until it's earned.
Stripe fees go to Merchant Account Fees (Schedule C Line 27a), NOT Line 17. Each Stripe deposit splits into gross revenue, fees, refunds, and sales tax. Net-vs-gross posting is the #1 trap. 1099-K TY2026: $20,000 + 200 transactions per OBBBA.
See Growthy on a sample book. Read-only bank access.
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