Bookkeeping

XYZ Inc is preparing an income summary for the year ended December 31, 2018, and below are the revenue and expense account balances as of December 31, 2018. At the end of the year, all the temporary accounts must be closed or reset, so the beginning of the following year will have a clean balance […]

QuickBooks Online projects makes it easy for accountants to monitor the cost of every project at a glance. A cost effective plan for low transacting or non trading clients. Connect payroll, tax solutions, and 3rd-party apps to accelerate and enrich your work. Can I customise my invoices in QuickBooks accounting software? See the ProConnect, Lacerte,

ARMs typically have lower initial interest rates than fixed-rate mortgages, but the interest rate can increase or decrease depending on market conditions. Revolving debt is a type of loan where the borrower has access to a line of credit that can be used and paid back repeatedly. The borrower is only required to make minimum

Management and general expenses and fundraising expenses are referred to collectively as supporting services. Sometimes, revenue earned by nonprofit organizations has restrictions placed on it by the revenue source. For example, granting organizations may require the funds provided to be dedicated toward a specific service or purpose. While for-profits need to compile a profit and

Organizations can improve efficiency and enhance visibility into payment processes by automating the AP workflow. As businesses increasingly rely on finance teams for strategic decision-making, upskilling the workforce is essential. Offering targeted training in areas like data modeling or analysis equips employees to interpret new data streams and helps future-proof your accounts payable team. Start

Hence, making journal entry of bad debt expense this way conforms with the matching principle of accounting. The percentage of sales of estimating bad debts involves determining the percentage of total credit sales that is uncollectible. The past experience with the customer and the anticipated credit policy plays a role in determining the percentage. Bad