In both events, you may need access to your business’s documents and financials to validate your claims and defend yourself against accusations of wrongdoing. Say you dispose of a property by selling it during the 2018 tax year, report the financial gain on your 2020 tax return, and file your […]
Category Archives: Bookkeeping
Content Ready to spend less time managing your donors and more time engaging them? GMS Accounting and Financial Management/Reporting System More about running your business Bookkeeping for nonprofits The 3 Core Financial Statements The best nonprofit accounting software 100,000 of current operating funds for addition to or replacement of plant […]
Content Importing information and data is easy Worry-Free Audit Support Credit Karma (Cash App Taxes) IRS Free File Available Until October 17, Midnight Eastern Time Best Tax Software for Customer Support What is the best free tax software? With the breadth of information publicly available on Military OneSource, you may […]
Content How Your California Paycheck Works Current Tax Rates California State Income Tax Credits Kentucky state taxes 2021: Income and sales tax rates States With Flat Tax Rates Subscribe To RJS LAW State Disability Insurance Tax is 1.20 percent of the first $128,298 in wages, paid by the employee. Effective […]
Content Part 1: Tell Us More About Yourself Finish Your Free Account Setup What is the Amortization of Premium on Bonds Payable? What is the nature of the premium account? In lending, the effective annual interest rate might refer to an interest calculation wherein compounding occurs more than once a […]
Shareholder equity (also referred to as “shareholders’ equity”) is made up of paid-in capital, retained earnings, and other comprehensive income after liabilities have been paid. Paid-in capital comprises amounts contributed by shareholders during an equity-raising event. Other comprehensive income includes items not shown in the income statement but which affect […]
Content The Allowance Method for Uncollectible Accounts The Impact of Accrual Accounting Microsoft Allowance for Doubtful Accounts Example 2 Account for Uncollectible Accounts Using the Balance Sheet and Income Statement Approaches Uncollectible Receivables Definition Fundamentals of Bad Debt Expenses and Allowances for Doubtful Accounts Otherwise, your business may have an […]
Content What Is Your Business Worth?* Comparability Between Companies Income Statement Current Ratio Management’s Discussion and Analysis (MD&A) FINANCIAL STATEMENT ANALYSIS They can then use this information to make business decisions such as preparing the budget, cutting costs, increasing revenues, or capital investments. Create trend lines for key items in […]
Your business should implement efficient record-keeping policies and a sound financial strategy to avoid this situation. Danielle Bauter is a writer for the Accounting division of Fit Small Business. She has owned Check Yourself, a bookkeeping and payroll service that specializes in small business, for over twenty years. This type […]
Both play important roles in recording financial transactions, but they have distinct differences. The journal contains detailed information about each transaction that occurs within an organization including date, amount, accounts involved and description of each transaction. Whereas the ledger shows only summarized data by account which makes it easier to […]