Category: Bookkeeping

If QuickBooks pricing is out of your budget or if the complexity of its plans and pricing structures has your head spinning, here are a few alternative accounting software solutions to consider. All Gold...

And when a bill comes in, it’s recognised as an expense even if payment won’t be made for another 30 days. We can easily find out when a transaction has occurred and there is...

It also supports projects, advanced analytics, and employee expense claims. Look for discounts and promotions when signing up, as they often pop up. Xero and QuickBooks are both great accounting software options for small...

However, it is the most complex of the three methods and requires a strong understanding of accrual accounting principles and SaaS business operations. The right SaaS accounting software can greatly facilitate this process, helping...

They are either current assets, which include inventory, accounts receivable, or fixed assets which include buildings and equipment. When recording accounts on assets, the value which the property can produce when converted to cash...

Company K’s income statement will report the gross Sales of $100,000 minus the sales returns and allowances of $500 and the resulting net sales of $99,500. The contra asset account carries a credit balance...

List your credits in a single row, with each debit getting its own column. This should give you a grid with credits on the left side and debits at the top. Debits and credits...

Both of these methods should leave you with the same figure, but they both take a different journey to get to that figure. It’s in fact the calculation that differs between the two as...

If the stock is trading at $190 per share, the call owner buys Apple at $170 and sells the securities at the $190 market price. Assume that an investor pays a $5 premium for an...

Alternatively, if a taxpayer, including a tax-exempt entity, has not yet adopted an accounting method for an item of income or deduction, a change in how the entity reports the item is not a...