Category: Bookkeeping

Content Should I use FIFO, AVCO or LIFO? Change Inventory Accounting from LIFO to FIFO 4 Calculate the VAT on sales invoices 3 Which businesses cannot use the scheme 1 Barristers using the Flat Rate Scheme Ways Retailers Can Manage Surplus and Overstock Inventory Although the number of units in ending inventory aren’t affected at… Continue reading Accounting Software for Retail Businesses

Content Steps to calculate NRV How to Calculate the NRV Net Realizable Value (NRV): Definition & Calculation How to Include Inventory and Receivables on an Income Statement Example of Calculation of Net Realizable Value People’s demands determine the value of a good or industry. What people want and are willing to pay for brings up… Continue reading Net Realizable Value Definition, How to Calculate, Example

Content Notes payable definition Stay up to date on the latest accounting tips and training AccountingTools Examples Interested in automating the way you get paid? GoCardless can help Because the notes payable is a liability account, the normal course of entry is crediting notes payable, and debiting cash or another asset received against it. On… Continue reading What Is Notes Payable?

Content Spreadsheets How Can You Create a Business Budget in Excel? Which accounting software to use Outlook: 5 Finance Risks to Monitor This Year Schedule Bookkeeping Services for Chicago IL Small Businesses Although Excel is the go-to-software for thousands of businesses around the world, its reliance on spreadsheets is quickly becoming outdated. A spreadsheet done… Continue reading Instantly Import Excel Files Into Your Favorite Accounting Software

Content Other Depreciation Methods Services Straight line depreciation definition What are Other Types of Depreciation Methods? How Is It Different from Other Methods of Depreciation? How to Calculate Straight Line Depreciation (Formula) Suppose an asset for a business cost $11,000, will have a life of 5 years and a salvage value of $1,000. The straight… Continue reading What Is Straight-Line Depreciation? Guide & Formula

Content Requirements & Skills 6 Contact us about your hiring needs Looking for more job descriptions beside Accounts Payable Clerk job description? Duties & Responsibilities 2 Hiring Accounts Payable Specialist job description In addition, the position is responsible for providing a high level of customer service to both internal and external customers. An alternative certification is… Continue reading Accounts Payable Job Description

Content Payroll Department Duties Wage Expense: The Cost to Pay Hourly Employees Is salaries payable a normal debit balance? What is salaries expense? Business Case Studies Individuals generally work a 9-5 job with the expectation that they receive payment for the work done either at the end of each working day, weekly, or monthly. This… Continue reading What are wages payable?

Content Real Estate Chart of Accounts – Accounting and Bookkeeping The True Goal of Real Estate Accounting Benefits of good real estate accounting Real Estate Hotel Acquisition Model In the Guide we discuss accounting and tax matters specific to the real estate industry. We also touch on fair value measurement from the perspective of independent… Continue reading Real Estate Accounting Course

Content Budget, Financial Reporting, Planning and Performance Tax Policy Bad Debts Insurance The costs you had in your attempt to acquire or begin a specific business. These costs are capital expenses and you can deduct them as a capital loss. These costs are a part of your investment in your business and are called “capital… Continue reading Small Business Tax Deductions: 29 Popular Breaks in 2022

Content Solutions Schedule a call to discuss your company’s requirements Real Estate Accounting Tips For Better Bookkeeping Switch to AccountsIQ Meet the team IFRS Accounting for Real Estate Data Management Services If your employees work remotely or complete tasks while they’re out and about on a job, look at using online property management software for… Continue reading Real Estate Accounting Firm