Bookkeeping

11 abr

Xero Everything You Need To Know

Once a subscription has been cancelled in Xero, you will still be able to get access to the data in the future for up to seven years, unless you request it to be deleted. Attend online and in-person events exclusively available to our partners. These include the biggest, most beautiful accounting conference, Xerocon, usually held in several cities each year. If we have moderated your content on one of the platforms referred above, we would have done so because [...]

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27 mar

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Accountants must carefully track the fair value of AFS securities, as fluctuations can affect the equity section of the balance sheet through OCI. The classification of AFS also demands stringent adherence to accounting standards to ensure that the securities are not being manipulated for earnings management. In this blog post, we will explain what available-for-sale securities are and how they differ from held-for-trading securities. For example, a company may decide to purchase these security instruments in two or more industries [...]

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03 mar

What Is a Cash Receipt? Its Purpose and Key Elements

This statement helps stakeholders understand cash sources and uses, providing insights into financial stability and growth. In personal finance, cash receipts are instrumental for individuals to manage their money effectively. They enable thorough budgeting by providing an overview of expenses. Receipts are also necessary for handling returns or exchanges of purchased items. For tax purposes, receipts are critical for substantiating tax-deductible expenses like medical costs, charitable contributions, or work-related expenses. Your cash receipts journal should have a chronological record of [...]

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25 fev

What are Retained Earnings? Guide, Formula, and Examples

They’re part of shareholders’ equity on the balance sheet and reflect the company’s accumulated profits over time. Consider a homeowner who saves money from their salary to pay down their mortgage or to renovate their house. The decision to use those savings to reduce debt or improve the home (equity) is a financial decision about how assets are funded or allocated. To this beginning balance, the company’s net income (or net loss) for the current period is added. Are Retained [...]

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26 dez

Government Invoicing: Best Practices for Contractors

You can access your records on the go,which is perfect for the flexible work you’re doing. Effective invoice management plays a crucial role in enhancing cash flow for small businesses. By adopting efficient invoicing procedures, businesses can ensure a steady and predictable cash flow, which is vital for day-to-day operations and long-term growth. Consistent and professional invoice templates reflect well on your business. They help build trust with clients by clearly outlining payment terms and expectations. Manage Your Payments on [...]

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19 dez

Fixed Assets: Understanding Their Importance in Business Finance

Fixed assets are shown on the “Assets” side i.e. right-hand side of the vertical balance sheet. They are shown in financial statements at their net book value, the calculation for net book value has been demonstrated in the next section. The technology that powers your daily operations falls under https://libinfo.org/soft/index.php?cat=Business%20amp%20Finance%20::%20Business%20Finance office equipment. This includes computers, printers, copiers, servers, and networking equipment. These assets ensure your employees have the tools they need to communicate, collaborate, and keep your business running smoothly. Depreciation [...]

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25 nov

P-Cards Purchasing Cards: What Are They & How Do They Work?

Ensure that your vendors know that card payments are not only convenient but also secure and fast. When you pick a card provider, you also want to ask about the https://www.bookstime.com/articles/grocery-store-accounting card’s acceptance network. It’s hard to tell how your employees are using company funds without regular monitoring, especially when the cards are used out of the office. As with every other finance-related process in your organization, there is a risk of non-compliance when you issue cards. Save Time and [...]

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07 nov

How to Make Hand Sanitizer: Homemade, Natural, and Simple to Make!

“He would do drills with his right hand and his left hand, hook shots with his eyes closed, and you develop a sense of where you are,” Tollin said. “So what you’re talking about is, really, a sense of who you are, and I think that’s where that understated performance comes from. You have this inner confidence, you have a clear sense of your identity, and so you navigate through the world with this light touch, but somehow people [...]

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07 out

Net Realizable Value Meaning, How To Calculate, Example

Now that you’ve got a clearer understanding of the practical applications for net realizable value, let’s take a closer look at what these figures can tell you about your business. After all, you can then use this information to action necessary changes that will take your company to the next level. A positive NRV implies that your inventory will generate profits for you, whereas a negative NRV shows that the value of your goods is lower than their cost. [...]

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03 set

The heart of the internet

This method calculates the tax based on your corporation’s total gross assets and the ratio of issued shares to authorized shares. Your corporation will owe an estimated $400 for each $1,000,000 in gross assets. The minimum tax when using this method is $400, and the maximum tax is $200,000. All Delaware-incorporated businesses must, however, still pay the annual franchise tax, submit an annual report, and pay a filing fee. Here’s how to figure out how much you need to [...]

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