The purpose of the Accumulated Depreciation account is to track the reduction in the value of the asset while preserving the historical cost of the…
Category: Bookkeeping
This technique requires careful estimation and regular updates to ensure that the recognized revenue and expenses reflect the project’s actual progress. Tax authorities often have…
In general, the cost of bring other people on a business trip is considered personal expense — which means it’s not deductible. If you rent…
The Paris Olympics, a timely celebration of humanity, taught us about joy, hope and each other
Posted in Bookkeeping
Overall, corporations are more difficult to establish and result in more costs for the initial owners. For partnerships, the existing partners may not allow new…
On average, child care centers and programs can save up to 12 hours per month in administrative time spent on billing, invoicing and payroll using…
What is the accounting equation?
Posted in Bookkeeping
Accounting software is a double-entry accounting system automatically generating the trial balance. The trial balance includes columns with total debit and total credit transactions at…