Bookkeeping

Most banks and investors will want to see detailed financial projections and a statement of your current personal and business financial standing. Investors may want to see market data and other proof that your plan has a high chance for success. Without adequate financing, no startup can succeed, so it’s essential to create an ironclad […]

It’s the amount of sales the company can afford to lose but still cover its expenditures. The main thing to understand in managerial accounting is the difference between revenues and profits. Many products cost more to make than the revenues they generate. Since the expenses are greater than the revenues, these products great a loss—not

This balance sheet also reports Apple’s liabilities and equity, each with its own section in the lower half of the report. The liabilities section is broken out similarly as the assets section, with current liabilities and non-current liabilities reporting balances by account. The total shareholder’s equity section reports common stock value, retained earnings, and accumulated

For example, we may run out of cash, so the cash balance will be zero but the entire asset will never go to zero. So, at the end of the year after expenses, your total income would be R5 000. Then, you are going to debit your income summary for that total income amount. Suppose

Keeping track of the costs of your materials, and fuel is crucial to managing your finances. QuickBooks allows you to categorise your expenses, digitise your receipts and reconcile your accounts. Business owners can identify areas for cost optimisation and make informed purchasing decisions. In this blog, we’ll delve into the significance of bookkeeping for landscaping

An Individual Taxpayer Identification Number (ITIN) is a tax processing number issued by the Internal Revenue Service. The IRS issues ITINs to individuals who are required to have a U.S. taxpayer identification number but who do not have, and are not eligible to obtain, a Social Security number (SSN) from the Social Security Administration (SSA).

Since we credited the cash account, we must debit the expense account. However, there is a decrease in cash because we paid for the computer equipment. The process of recording transactions in the journal is referred to as journalizing. Here are numerous examples that illustrate some common journal entries. For example, if a company bought