Category Archives: Bookkeeping

As the receipts are reviewed, the box must be replenished for what was spent during the month. The journal entry to replenish the petty cash account will be as follows. When the cash balance in the petty cash fund drops to a sufficiently minimal level, the petty cash custodian applies for more cash from the […]

Entries are needed to (1) establish the fund, (2) increase or decrease the balance of the fund (replenish the fund as cash is used), and (3) adjust for overages and shortages of cash. Petty cash is stored in a petty cash drawer or box near where it is most needed. There may be several petty […]

We’ll review what each of these terms mean and why they’re important to understand as a home buyer and homeowner. Whether you’re a new homeowner or first-time home buyer, you may have heard the terms “assessed value” and “appraised value” thrown around by your loan officer or real estate agent. By providing your contact information […]

An assessor finds the assessed value of your home based on the market value, the appraised value or a uniform percentage of the two. Municipalities and counties employ an assessor to determine the tax-assessed value of the homes in their jurisdictions. In most states and municipalities, assessed value is calculated as a percentage of the […]

The Average Costing Method, also known as the weighted average cost method, is a popular inventory valuation technique. It calculates the cost of inventory items by averaging the total cost of goods available for sale over a specific period and dividing it by the total number of units available for sale. This method is particularly […]

If the S corporation is involved in one of the following activities as a trade or business or for the production of income, the shareholder may be subject to the at-risk rules. Certain U.S. persons that are the ultimate parent entity of a U.S. multinational enterprise group with annual revenue for the preceding reporting period […]

If any part of the adjustment is allocable to net short-term capital gain (loss), net long-term capital gain (loss), or net section 1231 gain (loss), attach a statement that identifies the amount of the adjustment allocable to each type of gain or loss. Figure the adjustment by subtracting the AMT deduction for depreciation from the […]

Wave Payroll If you use Wave Payroll and are a Canadian business, these terms apply. Developer API Including but not limited to developer.waveapps.com, api.waveapps.com. Wave Payroll If you use Wave Payroll and are a U.S. business, these terms apply. Our (non-judgmental) team of bookkeeping, accounting, and payroll experts is standing by to coach you—or do […]

Similar to other reputable cloud-based accounting software products, Wave encrypts the data you share with it and monitors its server facilities 24/7. Sage Accounting offers some of the least expensive accounting plans available and stands out for its in-depth inventory tracking. Although accounting and invoicing are separated into two different product sections on the Wave […]

Moreover, cloud-based platforms go beyond convenience–they elevate the customer experience. CFOs and finance leaders recognize the value of working on the same platform as their colleagues, online payroll services fostering collaboration and alignment across departments. Certinia Accounting, seamlessly integrated with Salesforce CRM, offers a unified environment for sales, services, and finance teams, ensuring a consistent […]