By G5global on Thursday, October 31st, 2024 in Bookkeeping. No Comments
If you work primarily on-site on your local computer, you may not need extensive mobile accounting features. However, if you frequently work on the go, you may consider a cloud-based option like QuickBooks Online. Another benefit is that it can manage an unlimited number of companies and generate consolidated reports for those companies. In contrast, […]
By G5global on Monday, October 7th, 2024 in Bookkeeping. No Comments
Economic order quantity dictates the optimal inventory levels you need to minimise expenses. These formulas calculate your gross capital inventory at the end of an accounting period. Assuming straight-line depreciation, for allocating the cost of your inventory asset the depletion of fixed capital can be calculated using a formula. Below we cover some of the […]
By G5global on Wednesday, September 4th, 2024 in Bookkeeping. No Comments
Under book value method, the common stock or other security that is exchanged for convertible bonds is recorded at the book value or carrying amount of bonds. These journal entries are a simplified example of the accounting treatment of a convertible note. The specific terms of the note, including any conversion discounts or valuation caps, […]
By G5global on Thursday, July 18th, 2024 in Bookkeeping. No Comments
The capital raised through this method is used to finance the working of the business. Common stockholders have voting rights and are entitled to get dividend on their holdings. To create a balance sheet, you need to gather information about a company’s assets, liabilities, and equity. This information can be obtained from a company’s financial […]
By G5global on Thursday, March 14th, 2024 in Bookkeeping. No Comments
A low ratio compared to industry averages indicates an inefficient use of business assets. Operating ratio is used to determine the efficiency of the management with which it is possible to generate a certain level of sales or revenue. It also helps in establishing how the company’s management is instrumental in reducing costs. The net […]
By G5global on Wednesday, November 22nd, 2023 in Bookkeeping. No Comments
The balances of permanent accounts, on the other hand, are carried forward for each accounting cycle. The revenue account is used to keep track of all money earned during a given period of time. The revenue account records any money received for goods and services given within the defined accounting period. Notes payable and accounts […]
By G5global on Tuesday, May 23rd, 2023 in Bookkeeping. No Comments
When the trader places a short sale trade, the stock must be delivered to the buyer on the trade settlement date. Example of Discount – Goods worth 10,000 were sold by Unreal Corp. to ABC Corp. @10% discount each. This means a trade discount of 10% and an additional 5% discount if the payment is […]
By G5global on Monday, September 19th, 2022 in Bookkeeping. No Comments
I am sure if the Accountant wants to change anything, adjusting journals can be done. The example is a bill of $1,000 for General Liability insurance and then two payments of $84. This journal would be used if your business has paid normal balance or will be paying a contractor to repair something. The above […]
By G5global on Wednesday, August 10th, 2022 in Bookkeeping. No Comments
Content Debt To Income Ratio: What Is It and How To Calculate It What does working capital tell you about your business? What’s a Healthy Working Capital Ratio? The Struggles of Private Company Accounting Positive vs negative working capital Resources Definition of working capital ratio Working capital is the measure of the liquidity available in […]
By G5global on Wednesday, June 15th, 2022 in Bookkeeping. No Comments
Content Separate personal and business expenses Choose Golden Apple Why is bookkeeping important? The Essential Guide to Bookkeeping for Truckers How to start with bookkeeping for your truck drivers & trucking industry? Because it’s easy to implement, many small businesses favor this method. It’s often even more difficult for truck drivers, whose gas and food […]
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