Bookkeeping

If the asset is fully guaranteed, the estimation of cash shortfalls for a financial guarantee contract would align with the cash shortfall estimations for the guaranteed asset (IFRS 9.B5.5.32). Depreciation is to do with an asset’s decreasing value during an […]

Typically, this comes last in the process of projecting the balance sheet components. You can see the shareholder’s equity line on the balance sheet completed in the example screenshot of a financial model that is shown below. It total equity […]

Essentially resetting the account balances to zero on the general ledger. Closing entries are those journal entries made in a manual accounting system at the end of an accounting period to shift the balances in temporary accounts to permanent accounts. […]

A major disadvantage of the Early plan is the fact it limits users to 20 quotes and invoices per month and only five bills a month. Companies that want to link payroll to their accounting software must integrate with Gusto […]

Because bookkeepers tend to work for smaller companies, they may not be paid as much as accountants. Knowing the differences between the two can help people find their niche in the industry and can give guidance to companies on who […]

Thanks to accounting software, this is done automatically as you enter amounts and designate which account it is connected to. Even better is the fact that accounting software can automatically generate these entries when a sales invoice or a check is prepared. […]

I do not offer full-service payroll as a bookkeeper, and I don’t do payroll in QuickBooks, but my clients have a payroll service they use. I work a maximum of 10 hours per month on this particular client’s books, and […]

Acorns’ robo-adviser applies algorithms to manage customers’ investment portfolios, which is much less expensive than relying on a human investment adviser. Value in this context means that the data contributes in a meaningful way to the analysis rather than being […]

Often, the terms ‘price’ and ‘cost’, in general, are used interchangeably. However, in economics, both the terms have different meaning, but are inter-related. But in common usage, cost and price are often used in the same way. After all, no […]