Category: Bookkeeping

Then when the client sends payment in December, it’s time to make the adjusting entry. Adjusting journal entries are used to reconcile transactions that have not yet closed, but which straddle accounting periods. These can be either payments or expenses whereby the payment does not occur at the same time as delivery. It is normal…

Your bookkeeper can also close your books and prepare a trial balance. They might send a P&L statement or balance sheet, DEPENDING on your level of service. QBO also allows real-time collaboration and access to your QuickBooks file from any device. QuickBooks can be a vital tool for small business owners, office managers, or anyone…

The objective at Harrington Group is to help members of the nonprofit community, including its boards of directors, learn from valuable resources and insights regarding its financial and accounting issues. Frank, Rimerman + Co. is an independent member of Baker Tilly International, which is a network of 126 independent accounting and business service firms. As one…

As an owner-operator, effective bookkeeping is essential to maintain the profitability of your trucking business. If you choose to do it yourself, these tips will help you maintain a healthy profit margin and make effective decisions that benefit your company in the long run. For owners seeking to employ trucking bookkeeping software, the best platform…

Every year, there is at least one day of the year that appears 53 times on the calendar. Let us know in the comment section below if you need further help managing your employees paycheck. The fact sheets below provide information on various topics concerning pay administration for Federal employees covered under title 5 of…

It is best to compare the company’s FAT ratio with its peers in the same industry to get a better idea of how efficient it is. As an example of how the asset turnover ratio is applied, consider the net sales and total assets of two fictional retail companies. It’s important to consider other parts…

It is best to compare the company’s FAT ratio with its peers in the same industry to get a better idea of how efficient it is. As an example of how the asset turnover ratio is applied, consider the net sales and total assets of two fictional retail companies. It’s important to consider other parts…

Covers the problems of generating and utilizing cost data for the dual purpose of managerial control and product costing. Cost accounting principles and procedures are studied in relation to the accumulation and reporting of material, labor, and variable and fixed overhead costs. Actual, normal, and standard cost systems are examined in both a job part…

In any determination of unallowable cost overrun, the amount thereof shall be identified in terms of the excess of allowable costs over the ceiling amount, rather than through specific identification of particular cost items or cost elements. However, costs incurred for repairs and maintenace to a tangible capital asset which either restore the asset to,…

An industry is any economic activity which creates jobs and generates income. Because the secondary sector is largely related to enterprises, it is often called the industrial sector. The second industry contributes functional and completed commodities, the majority of which have been manufactured in the industry. This is one of the most prevalent characteristics of…