Category: Bookkeeping

However, the SEC requires that companies present their Balance Sheet information in liquidity order, which means current assets listed first with cash being the first account presented, as it is a company’s most liquid account. IFRS requires that accounts be classified into current and noncurrent categories for both assets and liabilities, but no specific presentation…

You will be able to manage all of your downloaded banking transactions by the end of this section. Finally, you can use the reconcile tool to ensure the transactions on your bank statement match what has been entered into QuickBooks, resulting in up-to-date financial statements. Accept credit card and bank transfers anywhere, anytime with a…

That’s not to say the rest of its features aren’t impressive — it’s just to say that the solution fits businesses interested in a payroll-centric solution particularly well. Learn to create meaningful reports and assess your business’s financial health using revenue, expenses, profits, and cash flow. While most accounting software is easy to use, a…

For example, run highly time-limited special offers to encourage customers to act quickly. They can provide the goods or services immediately because they know their payment is confirmed. The margin of safety (MOS) is the difference between your gross revenue and your break-even point. Your break-even point is where your revenue covers your costs but…

For example, run highly time-limited special offers to encourage customers to act quickly. They can provide the goods or services immediately because they know their payment is confirmed. The margin of safety (MOS) is the difference between your gross revenue and your break-even point. Your break-even point is where your revenue covers your costs but…

Now It never hurts to ask yourself if you honestly think your own infographic is worth reading. Because if you’re getting bored looking at it, then you know you have a problem. A surefire way to get people to care about your infographic is to pick a topic that solves a burning problem. We’ll look…

Apple’s total liabilities increased, total equity decreased, and the combination of the two reconcile to the company’s total assets. Use this balance sheet for your existing businesses, or enter projected data for your business plan. Annual columns provide year-by-year comparisons of current and fixed assets, as well as current short-term and long-term liabilities. By reviewing…

This is a cartooning lesson that is especially appropriate for the holiday season, given that Christmas is all about the birth of baby Jesus. During this lesson, you will learn how to sketch the newborn Jesus in his manger crib, the Virgin Mary, and Joseph. In this tutorial, I’ll walk you through the process of…

One of the first things we need to clarify before digging deeper into bookkeeping for a nonprofit is the difference between nonprofit and for-profit entities. Each payment app or online marketplace has its own processes to determine the nature of payments, and you should review the policies of any apps or online marketplaces you use.…

If the company receives an invoice for $5,000, accounting theory states the company should technically recognize this transaction because it is contractually obligated to pay for the service. Accrued interest is recorded on an income statement at the end of an accounting period. Accrued interest is recorded differently for the borrower and lender. The prepaid…