This works well with companies who want to get the benefit of purchasing equipment but don’t want the negative impact on cash flow. In summary, capital leases effectively act as a financed asset purchase while operating leases are true rentals. Understanding the differences is key for proper accounting treatment and financial reporting under ASC 842. However, […]
Category Archives: Bookkeeping
Bookkeeping Tips for Small Businesses 7 Tips to Keep in Mind
17/11/2022 – 14:07
Without clean financial records, you may be at risk of paying settlements or tax penalties for avoidable financial errors. You also may be able to prevent or uncover fraud, whether from customers, vendors, or employees. So, we recommend you make time for your books instead of ignoring them. You don’t have to check them every […]
Guide to SaaS Accounting
17/11/2022 – 13:43
The customer includes an addon – Setup Fee, for the month of January, priced at $150, along with a metered-billing component priced at $300 per month. To overcome these shortcomings, FASB and IFRS joined hands to establish a new revenue recognition standard, called the ASC 606 Revenue from Contracts with Customers. For new SaaS companies, […]
8 Best Practices for Nonprofit Bookkeeping
17/11/2022 – 07:31
While business stakeholders are concerned with profits, nonprofit stakeholders and board members want to know if the resources are properly utilized and allocated. It’s also important to recognize that bookkeeping is not a part-time job. Adding this responsibility to an existing staff member’s to-do list will likely overwhelm your employees, and your books won’t get […]
Financial services: bank runs stoke accounting debate
02/11/2022 – 04:16
Forensic accountants investigate financial crimes involving fraud, embezzlement and other issues. They often work closely with law enforcement and lawyers, and they can help determine the legality of financial activities, according to the BLS. We try our best to keep you with the bookkeeping team you’re assigned when you come on board. If there’s any change […]
What is a Purchase Journal? Example, Journal Entries, and Explained
01/11/2022 – 12:43
As the business maintains control accounts in the general ledger, the accounts payable ledger itself is not part of the double entry bookkeeping, it is simply a record of the amounts owed to each supplier. Postings from the purchases journal follow the same pattern as postings from the sales journal. Each day, individual purchases should […]
Can Gas Grills Explode? Is There Reason to Be Scared?
28/10/2022 – 13:40
It turned out Fuchs had left the propane on too long, allowing it to build up inside the grill and ignite. Home surveillance cameras rolled as he ran to his swimming pool to put himself out. Moments later, paramedics arrived and rushed him to the ER. Whatever the cause, it is vital to wait a […]
with Formula
28/10/2022 – 05:15
Number of Years to Grow – The number of years the investment will be held. Expectancy Wealth Planning will show you how to create a financial roadmap for the rest of your life and give you all of the tools you need to follow it. When it comes to retirement planning, there are only 4 paths […]
Axos Bank business checking review of 2024
06/10/2022 – 07:04
For businesses with higher balances, Capital One offers Unlimited Business Checking. Thanks to its ongoing rewards and low cash deposit fees, Bank of America is a solid choice for a small business checking account. A healthy balance in your business savings account may help you get approved for a small business loan in the future, […]
Petty Cash Log Template Printable Petty Cash Form
26/09/2022 – 12:29
Maintaining the usual checks and balances to the minor details, are no longer going to be trouble for you. You don’t even have to create your own Running Log Template to keep everything run smoothly. Just download these real time saving templates and get your work done. These are some great templates that are designed keeping all […]
