The correct amount is the amount that has been paid by the company for insurance coverage that will expire after the balance sheet date. If a review of the payments for insurance shows that $600 of the insurance payments is for insurance that will expire… Read More »Mastering Year-End Financial Accuracy: The Essential Guide to Adjusting Entries in Accounting
For example, if you have a part-time job that pays $10,000 per year and a rental property that generates $15,000 per year in income, your annual income would be $25,000 ($10,000 + $15,000). For an individual or business with multiple income streams or sources of… Read More »What Is Total Annual Income and How to Calculate It
Software like Quickbooks or Xero can help you organize all your numbers into profit & loss reports, balance sheets, and more. Couple this with sales reports from ClinicSense, and you’ll never need a spreadsheet again. The software tracks and organizes all the numbers for you.The… Read More »12 Best New York City Bookkeeping Services
If Trump’s plan is enacted, Americans would still pay taxes at the state and local level, as well as Social Security and Medicare. However, their take-home pay would increase if federal income tax was removed. Various types of income tax are taken out of American… Read More »Federal Income Tax Calculator
An asset is a resource that is owned or controlled by the company to be used for future benefits. Some assets are tangible like cash while others are theoretical or intangible like goodwill or copyrights. Get instant access to lessons taught by experienced private equity… Read More »Accounting Equation What Is It, Formula, Examples
My forward thinking client, based in the lovely city of Lancaster are in a position to appoint an additional bookkeeper to join their team. Ideally they are looking for candidates who have previously worked in an Accountancy practice and have experie… Live Bookkeepers aren’t responsible… Read More »The 10 Best Bookkeepers Near Me with Free Estimates
This is important for accurate financial reporting and to prevent fraud. By reconciling the bank records with the book balances, the company can identify any discrepancies and make necessary adjustments to the accounts. Bank reconciliation compares a company’s books with its bank statements to ensure… Read More »Bank Reconciliation: Purpose, Example, Process
If you wait until the ex-dividend date to buy, the price should be lower – all else being equal – because the dividend is no longer included. Tara Kimball is a former accounting professional with more than 10 years of experience in corporate finance and… Read More »Dividends Payable Definition Accounting Dictionary
By signing up to be a Collective customer, you receive an extensive list of features from formation services to tax preparation and filing to bookkeeping and accounting. QuickBooks Live is a virtual bookkeeping service that offers guaranteed services by real QuickBooks-certified bookkeepers. To start, a… Read More »The Best Startup Accounting Software
Overstocking means that cash is tied up in inventory assets for a prolonged period. Opting for an automated inventory management system is an excellent way to ensure you always get notified when stock is low and it’s time to replenish. An automated system will also… Read More »Inventory turnover ratio ITR definition, explanation, formula, example and interpretation