Is Revenue Debit or Credit? 11 Common Bookkeeping Questions

On a balance sheet or in a ledger, assets equal liabilities plus shareholders’ equity. An increase in the value of assets is a debit to the account, and a decrease is a credit. Revenue is credited because it reflects an increase in the company’s total income. You always want to be sure that your entries […]

Post-dated check financial definition of Post-dated check

The date you choose to use is not part of a legally binding agreement between you and the payee. In most cases, the recipient can deposit the check at any time, and the bank is free to pay funds out of your account before the date shown on your check. Whether a post-dated cheque may be […]

Accounting Errors: Types, Examples & How to Fix Shoeboxed

Reconciliation errors are errors that occur during the process of making all the accounts or books consistent or congruent. It allows you to validate all the information on your books, sort of like a double-check before closing. Making any changes to this data after the close date could result in major problems for future closing […]

35+ Fillable Blank Check Templates FREE PDF, Word, Excel » ExcelSHE

There are times when a check is made out to multiple people, such as a parent and child or a couple as a wedding gift. The name signed on the back of the check must match the payee’s name listed on the front of the check. If your name is misspelled on what is the […]

QuickBooks Online VS Desktop Comparison

Alternatively, you can hire a QuickBooks ProAdvisor to help with your bookkeeping needs. To help you get started, we prepared a guide on how to find a QuickBooks ProAdvisor. Meanwhile, if you or your accountant want to become a ProAdvisor to demonstrate expertise in QuickBooks, read our article on how to become a QuickBooks ProAdvisor. […]

Bookkeeping Services near Atlanta, GA Better Business Bureau Start with Trust ®

You get one-on-one guidance that helps manage risk and improve performance. You have more important things to do than to keep your own books. We take care of your business for you, so you can get back to running your business. Consider the complexity of your tax return and what level of expertise you’ll require. […]

Return on Investment

This involves regular audits, performance reviews, and strategic realignments to ensure that resources, both monetary and human, are deployed where they can generate the most value. Boosting the returns from an investment, be it through improved sales strategies, expansion into new markets, or launching complementary products, can significantly elevate the ROI figure. Two investments might […]

Deferred cost definition

If the revenue or expense is not incurred in the period when cash/payment is exchanged, it is booked as deferred revenue or deferred charges. The accrual method is required for businesses with average annual gross receipts for the 3 preceding tax years of $25 million or more. When a business incurs an expense that covers […]

Solved: Cost of Goods accounting for used car dealership

This method is simpler and more straightforward, as it only considers actual cash inflows and outflows. However, it may not provide an accurate picture of the dealership’s financial performance, especially if there are significant time lags between the sale and the receipt of cash. Accrual accounting records revenue and expenses when they are earned or […]

Cash Basis Accounting: Definition, Example, Vs Accrual

Accrued expenses refer to the recognition of expenses that have been incurred, but not yet recorded in the company’s financial statements. For example, if a company incurs expenses in December for a service that will be received in January, the expenses would be recorded as an accrual in December, when they were incurred. For investors, […]