Category: Bookkeeping

When an invoice is received from the vendor, the amount is credited to the accounts payable accounts after debiting from the relevant purchase account. Once the bill is paid, the amount is again debited...

Content Insurance Should I Take the Standard Deduction? The Complete Guide to Sending Quotes and Estimates: Simplify Your Small Business Process with Free Quote Templates If you are an individual and your attempt to...

They will also serve as the primary point of contact for tax authorities, handling responses and providing necessary documentation when needed. Share your open role with qualified controllers using the world’s largest professional network....

This simplifies transactions for trucking companies dealing with numerous clients or vendors. Another advantage of Zoho Books is its provision for additional users at an affordable rate. This feature and its scalable plan options...

Connections with other apps turn good accounting software into great accounting software. Whether you need to sync your software up with Google Sheets or your e-commerce platform, there’s an app integration for virtually everyone....

Content Once you’ve done everything you set out to do, what happens next? Guide for Choosing an LLC Filing Service WHAT IS AN LLC? Texas LLC Formation FAQs What Types of Lawyers Form LLCs?...

Let’s consider the above example again to understand how to record accounts receivable. Accordingly, the 2/10 net 30 payment term means you can take a 2% discount on the total due amount. Otherwise, you...

Content Cash Equivalents and Marketable Securities Module 5: Accounting for Cash The Effects of Cash Flow Issues on a Company How To Calculate Cash and Cash Equivalents Amendments under consideration by the IASB Fair...

Your property generates $2,000 per month, with expenses of $400 per month. If the cap rate of a property is 2% but most others in the area are 6%, that likely indicates a property...

It is used by summarizing the aspects that are important to each organization or purpose for producing a Multi-Level Income Statement. Having the additional breakdown is useful for lenders and investors to understand the...