Content New GAAP Rule: Accounting Standard Codification 606 “Revenue From Contracts With Customers” (ASC Sub-Ledger, a strong vertebrate of General Ledger Accounting What are the advantages and disadvantages of the completed contract method? Change orders How Is Construction Accounting Different? This communication is designed to provide accurate and authoritative information in regard to the subject […]

Content Did our blog on Tax Form K-1 help at all? How to Find a Financial Advisor Near You When to file K-1s Schedule K-1 Federal Tax Form: What Is It and Who Is It For? Is IRS Schedule K-1 Income Considered Earned Income? The purpose of Schedule K-1 is to report each partner’s share […]

A balance sheet is part of the documents that make up a company’s financial disclosure. It is intended as an external document for all the world to see. Auditors also require a trial balance at the beginning of an audit. The purpose of the trial balance, in that case, is to get a good overview […]

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Content What can customer management software do? How to choose customer management software Integrate Xero with Subscription Software to Track, Record and Reconcile Your Payments Schedule The Posting Simplified Payment Reconciliation Xero has the most affordable lowest tier, at $12 per month. However, the best option and price point will depend on the specific capabilities […]

Content Accounting software Self-assessment & partnership tax software for accountants & bookkeepers It’s easy to start using Nomisma NCH Express Invoice Share access & information with your accountant or employees Save around 8 hours a month on your accounts when you use QuickBooks Online. Using a laptop or smartphone, snap your receipts, create invoices, track […]

Content Interest revenue What is a contra account? Tag: contra-revenue Understanding Contra Accounts Contra-Revenue Account: Contra EquityA contra equity account has a debit balance instead of a credit. The opposite of the revenue contra accounts Sales Discounts, Returns and Allowances are expense contra accounts Purchase Discounts, Returns and Allowances. For the purpose of financial statement […]

Content Balance Sheets Have a Narrow Scope of Timing Why Is a Balance Sheet Important? Implementation, success factors and measures of Balance Sheet * Who Uses Balance Sheets? Example of a Balance Sheet Equity / capital The auditor of the company then subjects balance sheets to an audit. Balance sheets of small privately-held businesses might […]

Content Best for Mobile Access Simple accounting software that makes you even smarter. Best Mobile Accounting Apps Compared Take Control of Your Finances and Accounts Today How to Start a Business: A Startup Guide for Entrepreneurs [Template] Users can set up customized workflows for invoicing and bills payment. The technology accurately captures data from invoices […]