Category Archives: Bookkeeping

Content Keep Learning What is a Voided Check? Best High-Yield Savings Accounts Of September 2023 What is a void cheque? What’s Needed To Void A Check? How to Void a Check You Already Sent Starter Checks The difference between a checking and savings account can seem confusing. Huntington is here to help you understand the […]

In addition, all providers are issued a Provider Number from the IRS. Beware of preparers who encourage you to lie or otherwise modify your information in order to get a bigger refund. Upgrading to a paid membership gives you access to our extensive collection of plug-and-play Templates designed to power your performance—as well as CFI’s […]

Content Ways to store business receipts Recordkeeping After Closing Your Business Why should I keep records? Recordkeeping In the US, the IRS requires companies to keep their business tax returns for at least 3 years from the time of tax filing. Businesses of all sizes are required to keep up-to-date records that reflect their gross […]

Content Why do You Need to Create Employee Advance in QuickBooks? Balance Sheet: Explanation, Components, and Examples Understanding Goodwill in Balance Sheet – Explained Journal Entry for Employee Reimbursement Free Financial Statements Cheat Sheet Likewise, the journal entry for advance salary will be required to account for the cash outflow in the company’s record. As […]

Content AccountingTools What Are the Different Ways to Calculate Depreciation? How to Calculate Depreciation on Fixed Assets Sum of the Years’ Digits Depreciation Method How Does Depreciation Differ From Amortization? Sum-of-the-Years’ Digits Depreciation Everything You Need To Master Financial Modeling The depreciated cost of an asset is the value that remained after the asset’s been […]

Content Data Access Sets Subledger Accounting Example Question #5 : Encumbrance Accounting Example Question #4 : Encumbrance Accounting Special Consideration: Use in Accounting Step 2: Encumbrance Encumbrance vs. Accounts Payable For example, a utility company may have a utility easement so that it can place and maintain power lines on your land. For example, in […]

Content Overlooked Tax Deductions and Credits for the Self-Employed Working with TurboTax Premium support The qualified business income deduction Health Insurance Premiums and Medical Costs The home office deduction H&R Block vs. TurboTax: Cost Interactive education credit app It’s more expensive than other tax software For taxable year beginning after December 31, 2012, taxpayers must […]

Government bonds have a lower yield or interest rate than other investment options such as equity, real estate, corporate bonds, and so on. Instead of keeping all of its cash in its coffers, which provides no opportunity for interest, a business will invest a portion of its cash in short-term liquid securities. After the financial […]

Cost of debt, along with cost of equity, makes up a company’s cost of capital. There are tax deductions available on interest paid, which are often to companies’ benefit. Because of this, the net cost of a company’s debt is the amount of interest it is paying, minus the amount it has saved in taxes […]

Content Alternative Fuel and Electric Vehicles Transportation Fuel Alternatives for Highway Vehicles Unlocking the Power of Photosynthesis for Clean Energy Production Alternative Fuels Alternative fuels for zero-emission vehicles Landmark Technologies Several emerging fuels are considered alternative fuels under the Energy Policy Act and may be under development or already developed and available in the United […]