Category: Bookkeeping

They can help entrepreneurs keep track of expenses and identify areas for cost-cutting. This ultimately reduces unnecessary costs – resulting in increased profitability. This is where the role of a virtual bookkeeping assistant becomes important. If you’re interested in learning business skills that are specific to launching and running a profitable bookkeeping business, we can’t […]

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If credit terms are not competitive within the industry, sales can suffer. If most companies in an industry offer a discount for early payments, then most companies will follow suit and also offer an equal discount. When a credit card is accepted, it means that the credit card company (e.g., VISA, MasterCard, or American Express) […]

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The primary distinction between cash and accrual accounting is in the timing of when expenses and revenues are recognized. With cash accounting, this occurs only best software for tax professionals when money is received for goods or services. Accrual accounting instead allows for a lag between payment and product (e.g., with purchases made on credit). […]

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With 100 million customers worldwide using TurboTax, Credit Karma, QuickBooks, and Mailchimp, we believe that everyone should have the opportunity to prosper. We never stop working to find new, innovative ways to make that possible. Please visit us at Intuit.com and find us on social for the latest information about Intuit and our products and […]

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The coupon rate earned by a bondholder is calculated as a percentage of the face (par) value. In addition, common stock’s par value has no relationship to its dividend payment rate. Instead, common stock dividends are generally paid as a certain dollar value per share you own. Many people will then divide this value by […]

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Investing in and implementing the wrong accounting software can be costly. Save your time and money by knowing how to find the best accounting solution for your business. Become familiar with small business accounting processes, tools, and services. As procrastination-worthy as it may seem, bookkeeping is a necessary part of successfully running your business. If […]

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Accounts receivable is reported on the balance sheet; thus, it is called the balance sheet method. The balance sheet method is another simple method for calculating bad debt, but it too does not consider how long a debt has been outstanding and the role that plays in debt recovery. When using the allowance for doubtful […]

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By following these best practices, a company can successfully balance dividend payouts and retained earnings for optimal capital allocation while creating value for its shareholders and its business. Retaining earnings can be advantageous for a company and its shareholders in many ways. For example, it can increase the amount of earnings the company can reinvest […]

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If the inverse is true and the debt outweighs available cash, the investor may want to stay away. The coupon amount represents interest paid to bondholders, normally annually or semiannually. To calculate the coupon rate, divide the annual payments by the face value of the bond. A secured what is a post closing trial balance […]

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Once you complete the Trial Balance, the account balance is finally entered in the income statement and the balance sheet. A cash book functions as both a journal and a ledger because it contains both credits and debits. Because a cash book is updated and referenced frequently, similar to a journal, mistakes can be found […]

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