Anyone who wants to name their business needs to file a DBA (doing business as). Ultimately, a sole proprietorship is best for you when you have an idea and want to start immediately. For this reason, it is common among small businesses, freelancers, and other self-employed individuals. The business owner, also known as a prop… Read More
Wave Accounting is an intuitive accounting ERP for small businesses, freelancers and entrepreneurs. Users also fancy the program's user friendliness, documenting every task a user conducts and relaying accurate data. Although some users wish this solution had time tracking, job scheduling and recurring bills, the bulk of users f… Read More
Most often, these different classes are called Class A and Class B stock; however, which one has the greater voting rights may differ. Berkshire Hathaway issued a Class B stock that sold for far less than the Class A stock, so that smaller investors could buy shares. The cost method of accounting values treasury stock according … Read More
Here are examples on how to record each type of adjusting entry. If Laura does not accrue the revenues earned on January 31, she will not be abiding by the revenue recognition principle, which states that revenue must be recognized when it is earned. The cash flow statement is one of the basic financial statements. The $600 deb… Read More
Accumulated depreciation reports the amount of depreciation that has been recorded from the time an asset was acquired until the date of the balance sheet. Accumulated depreciation on the balance sheet serves an important role in in reflecting the actual current value of the assets held by a business. It represents i'm confused … Read More
Find out more about how interest rates work on borrowing products. Even though the interest may be calculated on a per annum basis, it may be paid to you monthly. Another example involves a business charging its customers 1.5% per month on any past due balance. 4 ways to find a federal tax id number The monthly rate of 1.5% can … Read More
Depreciation is expensing the cost of an asset that produces revenue during its useful life. Buildings, machinery, furniture, and fixtures wear out, computers and technology devices become obsolete, and they are expensed as their value approaches zero. Watch this short video to quickly understand the main concepts covered in th… Read More
If the underlying asset is to be used over a long period of time, the expense takes the form of depreciation, and is charged ratably over the useful life of the asset. If the expense is for an immediately consumed item, such as a salary, then it is usually charged to expense as incurred. Under cash accounting, the expense is onl… Read More
Knowing the structure of the exam can help you prepare efficiently. It’s like knowing the rules of the game before you start playing. Professionals who take the course get the opportunity to verify their skills on an exam to become certified QuickBooks Specialists upon completion of the course. You can use the Direct Connect… Read More
Before talking about margin and markup, let's see the setup of our problem. Let's say that your company produces a good paying a certain amount (that includes the raw materials, the manufacture, shipping, etc.). In order to stay afloat, you need to sell this good for a higher price than the one you spent in the production proce… Read More