Category Archives: Bookkeeping

An ordinary annuity is a financial product that provides a series of cash flows over a set period of time, with the payments typically made at the end of each period. An ordinary annuity can be a useful tool for budgeting, meeting financial obligations, and planning for retirement. The present value of an annuity is […]

Content Definition of notes payable XX. Governing Law I. The Parties A Legal Obligation to Pay is a Balance Sheet Liability Notes Payable Legal Issues Pertaining to Notes Payable Assume that Local Retailer borrows $20,000 from its bank and signs a promissory note due in six months. Local Retailer records $20,000 as a credit to […]

Access the internal source of data being reviewed (i.e. the bank ledger account on your accounting software) and compare it against the external document it is being compared against (i.e. bank statement). Confirm that the opening balance on the former agrees to the closing balance on the latter. This means that the business can conduct […]

Understanding the nuances of interior design bookkeeper responsibilities is essential for maintaining financial transparency and making informed business decisions. Implementing a reliable interior design accounting software can streamline bookkeeping processes and provide accurate insights into your business’s financial health. Utilizing a bookkeeping cheat sheet pdf can further enhance your ability to manage financial data effectively […]

Assets also include fixed assets which are generally the plant, equipment, and land. If you look you look at the format of a balance sheet, you will see the asset accounts listed in the order of their liquidity. Asset accounts start with the cash account since cash is perfectly liquid. Become Familiar with Bookkeeping Statements […]

If your company was having a bad year and you do not want to report a loss, just do not pay the bills for the last month of the year and you can suddenly show a profit in a cash-basis system. In an accrual-basis system, it does not matter if you do not pay the […]