Very small businesses may choose a simple bookkeeping system that records each financial transaction in much the same manner as a checkbook. Businesses that have more complex financial transactions usually choose to use the double-entry accounting process. Once posted to the general ledger, you need to balance all of your business’s transactions. Do this at […]

The first thing you’ll want to know when learning how to record credit card payments in QuickBooks Desktop is how to add credit card charges. After connecting your credit card account, it may take a few minutes or a couple of hours for QuickBooks Online to import your transactions. You can check the progress by […]

The first thing you’ll want to know when learning how to record credit card payments in QuickBooks Desktop is how to add credit card charges. After connecting your credit card account, it may take a few minutes or a couple of hours for QuickBooks Online to import your transactions. You can check the progress by […]

Outsourcing accounts payable takes most of this workload off of your AP team supervisor. Even if some employees are absent, the stress of covering up does not land on a sole supervisor. Additionally, since the outsourcing team only works on your accounts payable, they can deliver results much faster. While you have to hire employees […]

Interest Coverage Ratio is a key metric used to determine a company’s capability to meet its interest payments on outstanding debt. It is calculated by dividing earnings before interest and taxes (EBIT) by the interest expense. First, the information used for a ratio is as of a specific point in time what are the tax […]

Yet, having these numbers laid out, and knowing how to present them well will help you get through to the next stage and gain the resources you need to succeed. Many passionate entrepreneurs like to roll in with big claims to try and excite potential investors. Anyone that has been smart enough to amass that […]

The machine has a salvage value of $3,000, a depreciable base of $27,000, and a five-year useful life. So, the sum of all the years in the asset’s original useful life is 15. To find the annual depreciation expense, divide the truck’s depreciable base by its useful life to get $5,400 per year. You find […]

When an entity’s financial statements include foreign operations, the entity must consolidate those foreign entities and present them as though they were the financial statements of a single reporting entity. This process of translating the accounts of foreign entities is addressed in ASC 830, which has existed for decades without recent substantial changes, and is […]

Historically they have been printed on hr services for small business one or more pieces of paper, and either mailed directly to the account holder or kept at the financial institution’s local branch for pick-up. Bank statements are important documents and are usually required to be retained for audit and tax purposes for a period […]

Manually tracking hard and soft law firm expenses can become time-consuming. Even if you use apps or other solutions to track expenses, it can be tedious to consolidate data into one spot. A comprehensive cloud-based accounting solution can help you keep your data organized in one spot—and is available from anywhere. Solutions like MyCase Accounting […]