An increase to the bank's asset account is a debit. Hence, using a debit card or credit card causes a debit to the cardholder's account in either situation when viewed from the bank's perspective. So, what exactly does this mean in relation to your f... Read more
It can be difficult to gauge the appropriate time to hire an accounting professional or bookkeeper, or to determine if you need one at all. While many small businesses hire an accountant as a consultant, you have several options about how you handle... Read more
Why do you need a payroll solution?Every business has to process payroll for its employees. While every worker cannot wait when it is a payday, this cannot be said about business owners who have to calculate all the wages, salaries, deductions, and s... Read more
When filing federal income tax, taxpayers need to choose to either take the standard deduction or itemize deductions. This decision will be different for everyone, but most Americans choose the standard deduction.If you are given the tax rate, you ca... Read more
The amount of the commitment is the number of payrolls multiplied by the employee's periodic earnings with an adjustment for partial pay periods at the end of the commitment period. Accounting for budgeted versus actual events offers a useful measure... Read more
In an equilibrium state, markets creating negative externalities of production will overproduce that good. As a result, the socially optimal production level would be lower than that observed. Relying on one strategy may only work if you have the mar... Read more
It also comes with a handy “Notes on Preparation” box that gives you a step-by-step tutorial on working with this template specifically. When you hover over the column items, it also gives you more instructions for filling it out. Alan Mehdiani is a... Read more
The format of the balance sheet is not mandated by accounting standards, but rather by customary usage. The two most common formats are the vertical balance sheet and the horizontal balance sheet .For small privately-held businesses, the balance shee... Read more
The IRS allows businesses to use the straight-line method to write off certain business expenses under the Modified Accelerated Cost Recovery System . When it comes to calculating depreciation with the straight-line method, you must refer to the IRS’... Read more
There are a few different ways you could structure a bookkeeping business. However, even if you already have bookkeeping skills, you can benefit from a course that can teach you how to start your own business and find clients. As she got the hang of... Read more
