Bookkeeping

Also, its compulsory for publicly traded companies to prepare the multi-step income statements based on the government’s requirements for statutory compliance. It is important to realize that in the multi-step income statement, other income and other expenses are shown below the operating income line. As before other income represents income from interest, dividends, rents, and […]

Calculate your cost of sales by adding up all your sales and then multiplying the total by your cost-to-retail ratio. As you get closer to your reorder point, Cogsy will automatically send you a replenish alert, reminding you it’s time to (re)stock your shelves. Thanks to these reliable alerts, you can feel confident you’re ordering

Equity is about shareholder investments and profits kept in the business. It shows what’s left of company assets after paying off debts. This part reflects how well a business uses resources to benefit its owners. How balance sheets are set up can show if a company can handle its debts, now and later. A distribution

Using QuickBooks and online bill payment allows you to pay, track, record, and report your bills. Just send us your bills(Either by scanning the bill or taking a photo) and we will make sure that they get paid. Collecting your receipts on day to day basis can be hard sometimes. When you need them, they

Courts have found shareholder-employees are subject to employment taxes even when shareholders take distributions, dividends or other forms of compensation instead of wages. Effective management of S Corp payroll involves setting a reasonable salary aligned with industry benchmarks, job responsibilities, and financial health. Balancing s corp payroll this salary with shareholder distributions maximizes tax efficiency and

However, a shorter period will be more acceptable since the cost of the investment can be recovered within a short time. It is considered to be more economically efficient and its sustainability is considered to be more. The breakeven point is the price or value that an investment or project must rise to if you

This journal entry takes into account a debit balance of $20,000 and adds the prior period’s balance to the estimated balance of $58,097 in the current period. Continuing our examination of the balance sheet method, assume that BWW’s end-of-year accounts receivable balance totaled $324,850. This entry assumes a zero balance in Allowance for Doubtful Accounts

The Finance Department is requesting the services of an accounting assistant who will work under the supervision of the accounting supervisor. The day-to-day duties involve processing transactions, recording payments, preparing budgetary reports, and fact-checking information with clients, vendors and businesses. This person needs to be analytical, numerical, independent and communicative, possessing postsecondary education in accounting

When a company’s receivables turnover ratio is low, this indicates they have an issue with collecting outstanding customer credit and converting it into cash. The lower the ratio, the less frequently the company is collecting payments, indicating a potential cash flow problem. A low ratio could also be an indication that there’s a problem with

An investor who buys shares after record date is not eligible to receive dividend. In relation to a dividend paying stock, the record date is a much important concept that investors need to understand before buying new shares or selling their already held shares. Cash dividend is the distribution of profits of the company to