For instance, if the pre-damage value of a vehicle is $20,000 and the estimated repair costs are $15,000, the net salvage value would be $5,000. In this case, if the threshold for declaring a vehicle a total loss is 80% of the pre-damage value, the vehicle would be considered a total loss as the repair...Continue Reading

Ask questions, do your homework, and educate your team about cloud security. Once you understand the extent of physical security, backup and recovery, and risk mitigation, you’ll feel confident about your decision to migrate to the cloud. Similar apps The Quick actions widget provides convenient access to your frequently used features, while the Invoice insights...Continue Reading

When you use an integrated Payment Processor and Accounting Software like FreshBooks, your payment transactions and fees are tracked directly in your software, making bookkeeping easier than ever. There’s no need to manually add all your transactions—it’s managed automatically by FreshBooks. Too often, employees spend countless hours entering data into programs instead of doing what...Continue Reading

Any subsequent stock transfers will have a different worth than the initial issue price. Defaults are tremendously unlikely with US government bonds and very rare with investment-grade corporate bonds. Investors aren’t going to pay par value for that original two-year bond (maturing in one year) when they can get a substantially similar bond with a...Continue Reading

Wave’s built-in dashboard makes it easy to quickly access and understand your business’s financial information. Another outstanding feature is the fact an unlimited number of users can be added. Accounting software streamlines the bookkeeping process, making it easier for business owners to keep tabs on finances and plan for tax season. For freelancers and small...Continue Reading

The consultant’s job will be easier if he or she has ample information about both the company and the problem at hand. On one hand, the organization is now owned by a specific competitor in the space, which creates greater risk and reliance on a competitor. Those companies are now effectively subsidizing development for Novo...Continue Reading

Calculating inventory turnover ratio helps with business financing in a couple of ways. Borrowers can use this information to help determine how much inventory financing they need, and for how long. You will need to choose a time frame to measure the ITR, such as a month, quarter, or year since you’ll use the inventory...Continue Reading

The cost of factoring accounts receivable includes a factoring fee, typically 1-5% of the invoice value, and possible additional fees for an origination or early contract termination. Costs vary based on the net terms, customer creditworthiness, and individual factoring company rate differences. However, there are other methods to handle accounts receivables, which include a form...Continue Reading

Content Interested in automating the way you get paid? GoCardless can help AccountingQA Navigation Definitions of related terms Definition and Examples of Liquid Assets Components of the Balance Sheet Definition of term order of liquidity Analyzing Liquid Assets If you have any other current assets that can easily be converted into cash within a year (like...Continue Reading

Content YPTC WORKS ANYWHERE What Our Clients Are Saying Victor Tax and Accounting OUR CLIENTSCHANGE LIVES All “bookkeeping services” results in Kansas City, Missouri Alice’s Bookkeeping Nonprofit Bookkeeping Services Outsourced Bookkeeping Services Together, we are one of the Top Ten accounting providers in the nation, and are the third largest accounting provider in the Greater...Continue Reading

Avoid missed payments and stay on top of the money going out of your bank account by switching to electronic billing. That way, all of your bills can be accessed through any computer or mobile device, no matter where you are in the world. For any bills that don’t have an option to go digital,...Continue Reading

Content How to Calculate Goods in Process Inventory Example of Period Costs Items That are Not Period Costs Developer costs Considerations in Production Costs Calculations What is Period Cost? Let us look at an example of the COGM calculation for a furniture manufacturer. The company has $5,000 worth of furniture in the making at the...Continue Reading

Content About the IFRS Foundation Difference Between Types of Liabilities What Is the Journal Entry for Contingent Liabilities? 2 Recognition of provisions IAS 37 — Provisions, Contingent Liabilities and Contingent Assets IFRIC 1 — Changes in Existing Decommissioning, Restoration and Similar Liabilities Applicability of Contingent liabilities in investing Any contingent liabilities that are questionable before...Continue Reading

This is crucial as it helps to maintain a consistent workflow, enabling these businesses to allocate budget more effectively elsewhere. ShipBob is an order fulfillment solution that features built-in inventory management software, giving you precise control over your inventory. You can check inventory counts at each fulfillment center and set automatic reorder levels, so you...Continue Reading

This is a particularly thorny issue in analyzing industries notably reliant on preferred stock financing, such as real estate investment trusts (REITs). On the other hand, the typically steady preferred dividend, par value, and liquidation rights make preferred shares look more like debt. As a highly regulated industry making large investments typically at a stable...Continue Reading

The cost of the building, minus its resale value, is spread out over the predicted life of the building, with a portion of the cost being expensed in each accounting year. Similar to the declining-balance method, the sum-of-the-year’s method also accelerates the depreciation of an asset. The asset will lose more of its book value...Continue Reading

Sometimes they can be linked to a future invoice (as in the example above). The latter scenario plays out when it’s more convenient because multiple transactions between the parties regularly take place. A credit note is also more likely to implicitly signify further transactions between the two parties, whereas a refund does not. Credit scores...Continue Reading

It can be hard to define the difference between payroll software and services, but we’re defining a payroll service as a third party that handles the entire payroll process for you. Many payroll software providers https://www.quick-bookkeeping.net/ perform services as part of their software offering, such as processing tax payments for you. Small business owners can...Continue Reading

Content The best 10 Excel bookkeeping templates for free Monthly Bank Reconciliation Template A cash flow statement template in Excel Harrisburg Bookkeeping The investing activities section includes cash inflows and outflows. They are related to the company’s investments, such as buying or selling property, plant, and equipment. All business owners hope their enterprises will be...Continue Reading

Content The Tax Gals! How much do accountants charge for tax help? Nate Meeker, CPA Who can file my taxes? Tax preparation DePauw Johnson Tax & Financial Services Company Can’t find the business? When it comes to businesses, whether big or small, things often get even more complicated and stressful. Why subject yourself to countless...Continue Reading

Along with the company management, vigilant investors may keep a close eye on the contribution margin of a high-performing product relative to other products in order to assess the company’s dependence on its star performer. You need to fill in the following inputs to calculate the contribution margin using this calculator. Accordingly, the per-unit cost...Continue Reading

When pushing through a new commit in one of these branches, a new server is started, with a database created from scratch and the new revision of the branch. The databases created for development branches are meant to exist for about three days. Transitioning to each next stage is possible only after testing functionality at...Continue Reading

Only then should you post to the Reconciliation Discrepancies account. In other words, there’s no need — or even any purpose — to reconcile accounts like fixed assets or intangible assets unless there is an outside document you can refer to for reconciliation. Even then, you’ll likely only reconcile non-bank accounts once a year, as...Continue Reading

Content Creating Detailed Financial Statements How to find a proven restaurant accountant Simplify the Complexities of Payroll Processing Using the wrong accounting method Generate a Sales Report When to hire an accountant for your restaurant We’re going to take a look at some restaurant accounting basics as well as some factors that are specific to...Continue Reading

Lose the attention of early adopters and they will just find something else to play with. The latter bought Lettuce Inventory in 2014 and integrated it into its software in 2015 to appeal to e-commerce businesses. And as mentioned above, it bought a second inventory app Trade Gecko just two years ago. The domains-based structure...Continue Reading

Content How do I set up direct deposit? Let’s back up. What is a voided check? Banking Why do you need a voided check for direct deposit? Example of A Voided Check Student banking Yet another use for a voided check is when a lender wants to use it to set up an automated loan...Continue Reading

Unlock capacity and strengthen resilience by automating accounting. Energize your accounting team by creating capacity with automation. Streamline and automate detail-heavy reconciliations, such as bank reconciliations, credit card matching, intercompany reconciliations, and invoice-to-PO matching all in one centralized workspace. Match, analyze, and reconcile millions of transactions in minutes. Deferred Revenue (a.k.a. Unearned Revenue) is a liability...Continue Reading

The advantages of this, are its simplicity and potentially advantageous tax treatment since you’ll be paying your taxes later as compared to other methods. Under the completed contract method, contractors can defer taxes until the ongoing project is contractually complete. Instead, you’ll wait until the end of the six months as soon as you complete...Continue Reading

In Case 2, Notes Payable is credited for $5,200, the maturity value of the note, but S. The principal is just the total payment less the amount allocated to interest. A problem does arise, however, when an obligation has no stated interest or the interest rate is substantially below the current rate for similar notes....Continue Reading

Let us handle the numbers while you focus on what you do best, running a successful business. We have a passion to see our clients and our community succeed. That’s why we don’t limit our scope to accounting and advisory services in Atlanta. And we also have a lot of fun together by celebrating team...Continue Reading

You can also pay to upgrade the delivery speed of your ACH transfer if your financial institution offers the option. Some banks offer next-day delivery, usually for an extra cost. The automated clearing house (ACH) transfer network is like the postal service of the electronic funds transfer (EFT) universe, where individual ACH transactions are like...Continue Reading

We believe everyone should be able to make financial decisions with confidence. Yes, you’re free to switch QuickBooks Online plans or cancel at any time. If your monthly average is $50,001 or more, the monthly price for QuickBooks Live is $700. If your monthly average is $10,001-50,000, the monthly price for QuickBooks Live is $500....Continue Reading