Bookkeeping

Depreciation is used to spread the cost of long-term assets out over their lifespans. Like amortization, you can write off an expense over a longer time period to reduce your taxable income. However, there is a key difference in amortization vs. depreciation. ABC Co. also determined the useful life of the intangible asset to be […]

When you log into a high-quality accounting software platform, you should see key financial data and clear links to key accounting tools. With over 550 skilled professionals, PABS provides a broad range of services, including tax preparation, bookkeeping, and white-label services tailored for construction companies. We’re putting ourselves first because we’re passionate about helping construction

High property taxes levied not only on land but also on buildings and structures can discourage investment in infrastructure, which businesses would have to pay additional tax on. California has a 68.1 cents per gallon gas tax rate and a $2.87 cigarette excise tax rate. The State of California collects $9,229 in state and local

Accounting software helps business owners understand how money flows in and out of their businesses. This can help you save time and make financial decisions quickly. These features help keep our invoicing, and accounting, free. Our accounting and invoicing features are currently free. If you’re interested in using payroll software, you can start a free

The benefit of using the contra expense account is that the company’s managers can see in account 4210 the total amount that the company paid to the health insurance company. Then in account 4211 they can see the portion of the cost that was paid by the employees. The company’s income statement will report the

Or perhaps a text message from an unidentified “customer support specialist” asking for the company credit card number. A Slack notification from an “internal administrator” requesting confidential VPN credentials. Maybe even a Zoom meeting invite sent by a digital extortionist masquerading as a friendly colleague. Aggregation and management among a plurality of storage providers Also,

A special journal (or specialized journal) used to record money received. In a manual systemthis will allow one entry to the Cash account for the month (or shorter periods) instead ofdebiting the Cash account for every receipt. When a company receives a loan from a bank, a transaction is performed in the cash sales collections

All of our content is based on objective analysis, and the opinions are our own. Second, commingling of personal and trust funds makes it much harder to determine if the lawyer has used, or misused, any of the trust funds which were supposed to be held intact. You should hold on to receipts, checks, and

The net amount is recorded as either a debit or a credit, depending on whether the company paid more or less than the shareholders did originally. When shares are repurchased, the treasury stock account is debited to decrease total shareholders’ equity. If the treasury stock is resold later, the cash account is increased through a

This can have a damaging impact on cash flow and a company’s overall revenue and profitability. Slow payment collections signal that a company’s accounts receivable collections process is inefficient and has room for improvement. Average collection period is calculated by dividing a company’s average accounts receivable balance by its net credit sales for a specific