Category: Bookkeeping

If the bond is sold at a discount, the company will record the cash received from the bond sale as “cash”, and will offset the discount in the contra liability account. Accountants use contra accounts rather than reduce the value of the original account directly …

Cheap, simple to use, and available in desktop and mobile versions, QuickBooks Self-Employed allows you to manage your accountsOpens a new window as you go. Create invoices, record payments, reconcile bank accounts, and create detailed profit and loss reports — all within a single, user-friendly …

Content Prepaid rent as a permanent account Assurance of Rent Payments Why Prepayment of Rent Could Be Good Your landlord might even offer a discount if you prepay several months in advance. It’s easier, simpler, and faster than collecting the rental every single month. Rental …

Content NEW! Hand off your business taxes What is the cheapest tax software that offers audit support? Is it safe to store tax documents online? TaxAct Self-Employed H&R Block specifically targets the growing number of taxpayers who have a Health Savings Account . These “triple …

This voucher is used when an organization pays others for Salary and wage payment, Payment for Raw materials, Loan repayments, etc. Hence, Cash Payment Voucher and Bank Payment Voucher will be treated as the debit voucher also. The voucher check creates a paper trail for the …

Content Local Governments Layaway Sales Nonprofit Organizations Vendor Resources Local Sales and Use Tax Rates Each additional month the return is not filed, an additional 5% will be added to the penalty up to a 25% maximum penalty of the tax due. Local tax rates …

Content Business Operations How can HighRadius help reduce the number of doubtful accounts? Allowance for Doubtful Accounts: Balance Sheet Accounting Balance Sheet Method for Calculating Bad Debt Expenses Collections When this bad debt is written off, the allowance for doubtful accounts is credited by the …

Augmented reality (AR) and IoT technologies can also play a significant role in the future of ERP, particularly in areas such as manufacturing, logistics, and warehousing. By integrating AR and IoT devices with ERP systems, organizations can gain real-time visibility into their operations, optimize resource …

Learn about tools and software that can help you land a fulfilling career in cloud-based operations and strategy. Enterprise resource planning (ERP) is software developed to manage and optimise business operations and processes. From increasing efficiency to better decision making, after we implement an ERP …

The contribution margin measures how efficiently a company can produce products and maintain low levels of variable costs. It is considered a managerial ratio because companies rarely report margins to the public. Instead, management uses this calculation to help improve internal procedures in the production …