Category: Bookkeeping

Use a free trial or ask QuickBooks for a software demo if you’re stuck between products. QuickBooks Desktop no longer offers licenses; instead you have to buy a yearly subscription. A QuickBooks Desktop Pro subscription costs $350/year, while QuickBooks Desktop Premier costs $550/year, and QuickBooks Enterprise costs $1,740+/year. If you want to learn more, check […]

Answering five key questions can help companies apply the numerous accounting for debt rules and exceptions that exist. Long-term debt is a catch-all term that is used to describe a wide range of different types of debt and long-term liability. Businesses can use these debts to achieve a variety of things that will help to […]

The Balance Sheet is one of the three financial statements businesses use to measure their financial performance. The other two are the Profit and Loss Statement and the Cash Flow Statement. The Balance Sheet shows a company’s assets, liabilities, and shareholders’ equity. Shareholder equity is the money attributable to the owners of a business or […]

We will discuss how to use the concepts of fixed and variable costs and their relationship to profit to determine the sales needed to break even or to reach a desired profit. You will also learn how to plan for changes in selling price or costs, whether a single product, multiple products, or services are […]

Additionally, companies may choose to use a fiscal year to spare their employees the rush of closing the business year during the holidays, when many people take time off. In some cases, a company may choose to use fiscal year reporting simply to get a lower cost on tax preparation services. For example, a company […]

Where things get slightly more complicated is a situation where an assembly plant could find a cheaper price from an external supplier, say for £450. Let us now consider the general principles of setting a transfer price. Consider Example 1 again, but this time assume that the intermediate product can be sold to, or bought from, a […]

In general, customer satisfaction ratings for ADP payroll services are positive. Reviewers commented frequently that ADP customer service reps are courteous and helpful, although comments were also made about long hold times and limited help during setup. Other positive comments included that the platform was easy to navigate, employee access to update information was helpful […]

Understanding how depreciation impacts the income statement is crucial for investors and analysts when evaluating a company’s financial health and performance over time. On the other hand, when depreciation expense decreases due to changes in accounting estimates or asset disposals, how to write a nonprofit case for support including examples it can increase both operating […]

You can’t get a handle on what the software will cost for your company’s needs without speaking to a sales representative—which can be tedious and time-consuming for someone trying to run a small business. And once you get an estimate, the price could change over time as introductory deals fade away and new offers emerge. […]

Instead, the accountant creates journal entries in accounting software. Thus, T accounts are only a teaching and account visualization aid. By using a T account, one can keep from making erroneous entries in the accounting system. Another example is a liability account, such as Accounts Payable, which increases on the credit side and decreases on […]