This is different from common stock, which has variable dividends that are declared by the board of directors and never guaranteed. In fact, many companies do not pay out dividends to common stock at all. Unlike a loan, cash generated…
Additionally, bundling can help to increase customer satisfaction by offering a more complete solution to their needs and preferences. Obsolete inventory can also result in significant storage and handling costs for businesses. As businesses accumulate excess inventory that cannot be…
Those in need of a full-service accounting solution will find a lot to appreciate at Bookkeeper.com. This online and cloud-based bookkeeping resource offers all-in-one solutions for taxes, books, and consulting, along with dedicated agents and account managers for every client.…
Reconciling bank statements with cash book balances helps you, as a business, to know the underlying causes that lead to such differences. Once the underlying cause of the difference between the cash book balance and the passbook balance is determined,…
At the end of every pay period, the bookkeeper will accumulate employee payroll details that include hours worked and rates. From there, the total pay is determined with the applicable taxes and withholdings. In the accounting software, the primary journal…
Just as every action has an equal and opposite reaction, every credit has an equal and opposite debit. Since we credited the cash account, we must debit the expense account. If you’re totally new to double-entry accounting and you don’t…
A trade-in or cash rebate can also provide capitalized cost reduction for a car loan. The cost of an item is allocated to the cost of an asset in accounting if the company expects to consume or use that item…
The length of time you should keep a document depends on the action, expense, or event the document records. Generally, you must keep your records that support an item of income or deductions on a tax return until the period…
After signing the bottom of the form, check the instructions to determine the appropriate IRS address. Note that the IRS office you mail it to depends on your address at the time of filing the tax return, not your current…
Reconciling credit cards in QuickBooks Online involves specific steps to ensure accurate financial management and alignment with credit card statements. Address any discrepancies between the credit card statement transactions and the records in QuickBooks by reconciling the differences and ensuring…
