Category: Bookkeeping

These calculations must make assumptions about the date of acquisition. One half of a full period’s depreciation is allowed in the acquisition period (and also in the final depreciation period if the life of the assets is a whole number of years). United States rules require a mid-quarter convention for per property if more than…

Content Eliminating accounting errors Manual reconciliation to automation Intercompany reconciliation The purpose of a bank reconciliation Miscoding: Transactions that are miscoded and included in the wrong GL account will skew a balance. Audit Benefits of Account Reconciliation Software What are the Types of Reconciliations? The uploading user’s name and the date and time is automatically…

Content What Is an Example of Petty Cash? The Petty Cash Fund How to Account for Petty Cash Organization How Do You Improve Petty Cash Management? Would you prefer to work with a financial professional remotely or in-person? More than 4,200 companies of all sizes, across all industries, trust BlackLine to help them modernize their…

We believe everyone should be able to make financial decisions with confidence. Municipal bonds (aka munis) can also offer significant tax advantages. These bonds are often issued by state governments or local municipalities to finance a particular project, such as the construction of a school or a hospital or to meet specific operating expenses. We…

Content Awards for QuickBooks Online Invoices, Expenses, & Mileage QuickBooks Pricing App Privacy Connect See what QuickBooks can do for your business. To process payment from a customer, Wave charges 2.9% plus 60¢ per transaction for Visa, Mastercard, and Discover and 3.4% plus 60¢ per transaction for American Express. These fees qbo login are slightly…

Content The risks of not planning ahead What does a power of attorney do? Step 2: Discuss expectations and responsibilities with your agent When will my power of attorney expire? What Kinds of Powers Should I Give My Agent? Sample Power of Attorney How to Setup a Power of Attorney Power of Attorney Health POAs…

Content Normal Balance For Accounts Payable Accounting Terms: Replenishing Petty Cash Financial & Managerial Accounting What Are Debits (DR) and Credits (CR)? Business Operations Now let’s examine a more complex example of a transaction that calls for debits and credits across multiple accounts. Let’s say your company sells $10,000 worth of monitor stands, and you’re…

Content What You’ll Learn Ask your employer to cover your CPA Exam costs Magazines & Publications Score Release: Exam sections taken July 1 – December 15, 2023 It is simply an additional independent verification of your Exam score. Please keep in mind that all scores undergo thorough quality control checks before they are released. Earning…

Content Comparing CapEx vs OpEx for IT Corporate policy Join PRO or PRO Plus and Get Lifetime Access to Our Premium Materials What are the different methods of calculating depreciation expense? Operating vs. Non-Operating Expenses Earnings before taxes USF&G deducted non-continuing expenses such as water, gas, electric, repairs, maintenance, and garbage disposal from the RVI…

Over the depreciation process, the double depreciation rate remains constant and is applied to the reducing book value each depreciation period. To calculate the depreciation expense of subsequent periods, we need to apply the depreciation rate to the laptop’s carrying value at the start of each accounting period of its life. Here’s the depreciation schedule for calculating the…