The sum of the years’ digits depreciation method is an accelerated depreciation method that calculates the depreciation expense based on the sum of the years of the asset’s useful life. This method is commonly used for assets that lose value quickly in their early years. Depreciation is a term used in bookkeeping to describe the …
4 2 Determining the useful life and salvage value of an asset Read More »
Having a grasp of the process of factoring can offer businesses a useful instrument for better financial management. Factoring, or invoice factoring, is a financial transaction in which a business sells its outstanding invoices to a third-party company called a factor. This process allows the business to receive immediate cash instead of waiting for the …
The Differences Between Pledging & Factoring Accounts Receivables Read More »
If you’ve received an outstanding check, deposit or cash it promptly. Since the bank balance does not yet reflect the check amount, it can present a misleading picture of your actual financial situation. The company just delay the payment, so they need to recognize accounts outstanding checks payable. Journal entry to write-off outstanding check – …
How do you treat voided checks on the bank reconciliation? Read More »
An owner’s draw is an equity account account used by the system. This way, it can track withdrawals of your company’s assets to pay an owner. If you have any other questions about recording your tax liability in QBO, please leave a reply below. We can filter your transactions to show all data marked as …
I paid my estimated tax by check How do I designate those checks as tax paid? Read More »
By now, you will have gained key insights into ratio data from this blog. So, make sure to improve your knowledge of different data types and statistical techniques to shine in your career as a statistician or data analyst. In case, you lack knowledge of any of these concepts, or if you require statistics assignment …
Whether you are a seasoned business professional or new to the world of business our job is to help you to get from where you are to where you would like to be. We take great pride in helping all our clients with all their tax needs. Many of our new clients come to us …
St Louis Full Service Bookkeeping Small Business Bookkeeping Services Read More »
That said, whatever timeframe you choose for your calculation, make sure the period is consistent for both the average collection period and your net credit sales, or the numbers will be off. The average collection period is mostly relevant for credit sales, as cash sales receive payments right when goods are delivered. That’s why this …
Average Collection Period: Definition, Formula, How It Works, and Example Read More »
That said, whatever timeframe you choose for your calculation, make sure the period is consistent for both the average collection period and your net credit sales, or the numbers will be off. The average collection period is mostly relevant for credit sales, as cash sales receive payments right when goods are delivered. That’s why this …
Average Collection Period: Definition, Formula, How It Works, and Example Read More »
Well, we do have quite a bit of evidence about the short run effects of raising tax rates. And some of that evidence is conflicting as evidence often tends to be, but some patterns do emerge. While it’s entertaining to discuss alternatives to the clearly too-complex tax code, my opinion hasn’t changed much since first …
While testing QuickBooks Online, we were impressed by how many pre-built reports there are before you even create any custom reports. Many business owners will have everything they need in the reporting module already. Our favorite QuickBooks Online features that we tested are its customizable dashboard, comprehensive reporting tools, and accountant and bookkeeper integrations. The …
10 Best Accounting Software for 2025 Reviews, Pricing Read More »