by rayongdrink | Mar 12, 2024 | Bookkeeping
As one discovers from the many variant opinions this topic generates significant misunderstanding. By placing the first occurrence of a given symbol (abbreviation) in each article or presentation within parentheses you remove all doubt about what you mean. However, I...
by rayongdrink | Mar 10, 2023 | Bookkeeping
In most cases, this is the correct entry to book, however, in certain transactions we are paying upfront for the right to use an asset or receive a service over a defined period of time. Under the cash basis an organization would immediately record the full amount of...
by rayongdrink | Jul 7, 2022 | Bookkeeping
This specific identification also helps track the inventory. In this case, the sales account is credited to record the credit sales for the period. Had the sales journal recorded other items such sales tax, delivery fees charged to customers etc, then the credit would...
by rayongdrink | May 26, 2022 | Bookkeeping
When needed, you can hire a certified public accountant to coordinate with an FC bookkeeper and help with audits and tax returns. Even though they are not as well-paid as accountants, full charge bookkeepers definitely earn more than regular bookkeepers. Depending on...
by rayongdrink | Nov 12, 2021 | Bookkeeping
Typical current assets that are included in the net working capital calculation are cash, accounts receivable, inventory, and short-term investments. The current liabilities section typically includes accounts payable, accrued...
by rayongdrink | Oct 9, 2021 | Bookkeeping
Overall, though, HOA software can prepare more accurate balance sheets. In addition to better accuracy, HOA software also helps prevent fraud since it is harder to fake the numbers. The HOA balance sheet is an important financial tool in any given homeowners or condo...
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