Arquivos da categoria:Bookkeeping

QuickBooks Enterprise has significantly fewer additional fees than QuickBooks Pro and Premier since many features are included with your annual subscription. Consider the QuickBooks Pro Plus + Payroll plan if your business needs built-in payroll. In addition to everything you receive in QuickBooks Pro Plus, you’ll also have access to Enhanced Payroll. Simply put, if […]

Stable businesses can generally estimate income tax expense as a percentage of income before taxes. If we don’t plan on issuing new stock — by raising equity capital — then we just forecast the same value into the future. Once we’ve completed this process for each of our long-term liabilities, we just need to add […]

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See Business use of your car under Personal Versus Business Expenses in chapter 1 of Pub. Also, see the special rules for certain demonstrator cars and qualified nonpersonal use vehicles discussed later. You can exclude the value of any de minimis transportation benefit you provide to an employee from the employee’s wages. For example, it […]

Unfortunately, this official standard provides little specific detail about what constitutes a probable, reasonably possible, or remote loss. “Probable” is described in Statement Number Five as likely to occur and “remote” is a situation where the chance of occurrence is slight. “Reasonably possible” is defined in vague terms as existing when “the chance of the […]

Dependents of U.S. military personnel can submit original documents, certified copies or notarized copies of identification documents. Apply for an ITIN in-person using the services of an IRS-authorized Certifying Acceptance Agent. This will prevent you from having to mail your proof of identity and foreign status documents. Where to apply? You may be able to […]

The principal on a note refers to the initial borrowed amount, not including interest. These are debts owed to suppliers and vendors for inventory, materials, supplies and services. These debts are not always in the form of written agreements but are generally payable within 90 days or less. Sometimes, depending on the way in which […]

Content Lalea & Black, Los Angeles Certified Public Accounting Firm Hundreds of app integrations How To Create An Agile Finance Function What Is Double-Entry Accounting? How to delete your accountant from QuickBooks You’re our first priority.Every time. Access to the QuickBooks ProAdvisor Program Intuit QuickBooks Online In the case you no longer wish to work […]

The closing entry will debit both interest revenue and service revenue, and credit Income Summary. The first entry closes revenue accounts to the Income Summary account. The second entry closes expense accounts to the Income Summary account. The third entry closes the Income Summary account to Retained Earnings. Which of these is most important for […]

Content What Does Cash Discount Mean? What does gross of discount mean? What journal are sales discounts recorded in? Types of Sales Discount Sales Discounts, Returns and Allowances: All You Need To Know Sales discounts are also known as cash discounts or early payment discounts. Sales discounts are deducted from gross sales to arrive at […]