Bookkeeping
Expanded Accounting Equation: Definition, Formula, How It Works
Put another way, it is the amount that would remain if the company liquidated all of its assets and paid off all of its debts. The remainder is the shareholders’ equity, which would be returned ...
Contra accounts definition
For example, accumulated depreciation will go along with related assets. Although contra-asset accounts have credit balances, they do not appear in liabilities or equity. Usually, credit balances incl...
What is the Accounting Equation & Why is it Important?
We now offer 10 Certificates of Achievement for Introductory Accounting and Bookkeeping. Metro issued a check to Rent Commerce, Inc. for $1,800 to pay for office rent in advance for the months of Febr...
What is the purpose of control accounts?
Although the company delivered better than expected numbers in its most recent quarterly results, it’s cut more than 7,000 jobs in the past year. The company said the deal would “further D...
QuickBooks Enterprise Pricing, Desktop Enterprise Cost
QuickBooks Online pricing plans begin from just $15 per month for the Self-Employed tier, but its cost can run all the way to $200 per month for 25 users on the QuickBooks Advanced plan. Fortunately, ...
Notes payable asset or liability?
Sarah designates that Scott’s payments go to Paul until Sarah’s loan from Paul is paid in full. A promissory note is written documentation of money loaned or owed from one party to another. The loan’s...
Online bookkeeping services vs traditional bookkeeping
Auto-Entry transforms accountants’ functions from mundane tasks to strategic roles. We learn your business and your books inside and out and work with your accountant to keep your finances and your bu...
MSP expenses paid by Scottish Parliament up by 5 5%
Insurance premiums, prepaid rent, salaries, taxes, or any interest or installment paid for office equipment are all examples of prepaid expenses. Soldo company cards can be plastic or virtual cards an...
Nonprofit Accounting, The Ultimate Guide
Failure to comply with these requirements can result in loss of tax-exempt status, significant penalties, and fines. By considering these factors, you can ensure that your nonprofit organization has t...
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