They also ensure consistent and error-free recording of transactions, leading to more reliable financial statements. If you’re still posting your adjusting entries into multiple journals, why not take a look at The Ascent’s accounting software reviews and start automating your accounting processes today. Any time that you perform a service and have not been able […]
Category Archives: Bookkeeping
with Formula
26/08/2021 – 14:02
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 […]
Contra accounts definition
20/08/2021 – 05:59
Contra Liability a/c is not used as frequently as contra asset accounts. It is not classified as a liability since it does not represent a future obligation. A contra asset account is a type of counter account that is used to adjust the debit balance of the main asset account. The contra asset account is […]
Accounting Rules Categories Encumbrance
19/08/2021 – 09:34
Content Liens 6.2 Encumbrance Policies Step 2: Encumbrance 2.2 Budgetary Reporting What is an example of an encumbrance? All CPA Financial Accounting and Reporting (FAR) Resources 6 Example Of Expenditure Transactions This naming makes more sense when you realize that encumbrance enables budgetary control by recording money that is allocated for future projects, preventing over-expenditure […]
What Are Ordinary Annuities, and How Do They Work With Example?
09/08/2021 – 07:56
Content What is an ordinary annuity? How to Calculate the Value of an Annuity Due What is your risk tolerance? Ordinary annuity definition Part 4: Getting Your Retirement Ready What Is the Future Value of an Annuity? Fixed Annuities An annuity due is an annuity whose payment is due immediately at the beginning of each period. […]
Topic No 652, Notice of Underreported Income CP2000 Internal Revenue Service
26/07/2021 – 09:05
Content How to Handle IRS CP2000 Notices (Underreporter Inquiry) Understanding the Changes to Your Return Why does the IRS Send CP2000 notices? YouTube videos help explain notices Evaluate your situation and decide on the right response. Other Steps to Take After Receiving a CP2000 Notice A CP2000 notice will come by mail on official IRS […]
Axos Bank business checking review of 2024
14/07/2021 – 05:43
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, […]
contra revenues account definition and meaning
05/07/2021 – 10:00
Examples of contra liabilities are Discounts on Bonds and Notes Payable and Short-Term Portion of Long-Term Debt. The most common contra account is the accumulated depreciation account, which offsets the fixed asset account. The fixed asset account contains the original acquisition cost of a number of fixed assets, while the contra account (accumulated depreciation) contains […]
Travel Agency Accounting and Back Office Software
28/06/2021 – 06:07
Vyapar App is an ideal solution for travel agencies to simplify their billing and accounting processes. Maintaining leadership in today’s highly competitive travel industry is a major challenge for both management and the technology they depend on. TRAACS provides management with not only the financial tools necessary to reduce overhead and operating costs but also […]
Term Bond vs Serial Bond: Understanding Fixed Income
28/06/2021 – 05:19
The fixed interest rate and predetermined maturity date allow investors to plan their cash flows and make informed investment decisions. Additionally, term bonds are often rated by credit rating agencies, providing investors with an indication of the issuer’s creditworthiness. Ensuring you understand these vital features can significantly help you make informed decisions and align your […]
