Bookkeeping

The equity capital/stockholders’ equity can also be viewed as a company’s net assets. You can calculate this by subtracting the total assets from the total liabilities. To compute total liabilities for this equity formula, add the current liabilities such as accounts payable and short-term debts and long-term liabilities such as bonds payable and notes. Overall, […]

Your virtual bookkeeper categorizes your transactions and prepares financial statements for your business. A bookkeeper provides critical services to keep your business finances in order. Small business owners and solo entrepreneurs may take on bookkeeping tasks themselves, but it can cost a lot in effort and time away from the heart of their business. Bench

For example, let’s assume that a company manufactured 2000 motorcycles for this year and 30% of motorcycles were lost due to defects. If these defects are non recurring then such units should be excluded from equivalent production. Equivalent units is a cost accounting concept that is used in process costing for cost calculations. It is

You’re in full control, with the ability to pre-set spending limits and track cashflow with integrated accounting tools. Remember, we’re focusing here on expenses that are rare or unusual, have irregular timing, and are only a small amount. GoCardless helps you automate https://bookkeeping-reviews.com/ payment collection, cutting down on the amount of admin your team needs

When you deposit money, you create credits and debits. The same goes for when you borrow and when you give up equity stakes. However, your friend now has a $1,000 equity stake in your business. With the loan in place, you then debit your cash account by $1,000 to make the purchase. Liabilities work in

Each period the interest expense (4,249) is the interest paid to the bondholders based on the par value of the bond at the bond rate (4,800) less the premium amortized (551). When a bond is sold at a discount, the amount of the bond discount must be amortized to interest expense over the life of

Depending on your requirements, we can work for a short period or on a regular basis. Many companies have chosen us to help them integrate QuickBooks bookkeeping software into their bookkeeping strategy. Our professionals provide one-on-one training to help you master the foundation of QuickBooks and keep your financial statements in order. The employees of

The purpose of using the RAPID decision-making is to ensure that key organizational decisions are made collaboratively, not in silos. In this way, all the key stakeholders distribute the responsibility of decision-making, and each stakeholder’s expertise is utilized in decision-making. A RAPID framework is often used by stakeholders for making high-stakes decisions in an organization.

Its intuitive user interface and straightforward setup cater to users looking for an accessible solution to manage their financial operations. While it might lack the advanced features required by larger businesses, Zenscale’s focus on essential tools and cost-effectiveness align well with the needs of small-scale operations. Its advanced features, such as real-time reporting and multi-currency

Once you’ve wrapped your head around accrued revenue, accrued expense adjustments are fairly straightforward. For example, going back to the example above, say your customer called after getting the bill and asked for a 5% discount. If you granted the discount, you could post an adjusting journal entry to reduce accounts receivable and revenue by