Category Archives: Bookkeeping

By optimizing the operation cycle, a company can greatly improve its cash management and decrease costs. All of the assets in your business are turned into products/services/cash which is then turned back again. If that is the case, then the operating cycle would be from when cash was outlaid to pay whatever expenses were needed […]

A company’s operating cycle is influenced by a variety of factors, and there are a variety of ways that an operating cycle can be used to assess a company’s financial health. A business owner will be better able to make decisions that will benefit the company if they have a better understanding of the company’s […]

Content Simplified method For Accountants MY ACCOUNT Hobby loss tax treatment: Profit or pleasure? Business Bad Debts It isn’t necessary to go to court if you can show that a judgment from the court would be uncollectible. Bankruptcy of your debtor is generally good evidence of the worthlessness of at least a part of an […]

Be aware of the points below as you prepare to sign up for an outsourcing service. When you give yourself a little more breathing room to run your business you’ll be surprised at how productive you could become. They are usually much more well-informed than certified accountants as far as taxes go. It’s also worth […]

In the payroll process, payments are made based on an approved timesheet or timecard. Voucher information may be assembled into a packet, where the basic voucher document is attached to the supplier invoice, evidence of receipt, and purchase order. This packet is useful for keeping related documents in one place, and makes it easier to […]

They are issued by Accor hotels to allow you to purchase their goods and services. Based on the number of students targeted, the program would cost the state $141.5 million annually if all slots are filled, plus administrative costs. “This is all an attempt to paint Tennessee optimal choice of entity for the qbi deduction […]

Another very common adjusting entry is the recording of depreciation on fixed assets because depreciation is the process of allocating an asset’s cost to the years of its useful economic life. In real life, this entry doesn’t work well since it makes the balance in Accounts Payable for that vendor look as though the company […]

What happens when you discover that one of your receivables is actually uncollectible? At that point, you want to remove that account from your accounts receivable balance. It is useful to examine both the mean and standard deviation of the beginning-allowance-to-write-offs ratio over a period of several years. The mean can be compared to the […]

Content In a balance sheet, what are current assets? Current liabilities in accounting Personal Current Liabilities Introduction to Financial Statements Short-Term and Current Long-Term Debt Accounting for Current Liabilities Member firms of the KPMG network of independent firms are affiliated with KPMG International. No member firm has any authority to obligate or bind KPMG International or […]

Content State & Local Tax Compliance OG Tax and Accounting Group Ivy Tax and Accounting Services, a New York City CPA firm Fast, Easy, & Affordable Accounting Services in NYC Tax Services Find an Accountant near New York, NY UNITED ACCOUNTING SERVICES​ Inemer, Cohen & Wolf LLP specializes in efficient accounting solutions and money-saving tax […]