Categoría: Bookkeeping

Bookkeeping is essential for many business functions, from analyzing your company’s performance to budgeting to meeting tax compliance standards and government regulations. As Forbes Advisor’s Editorial Director of Growth Projects, Emily looks after driving editorial innovation and audience engagement through new channels. She’s also held roles with CNN Underscored, launching the Travel vertical, and as…

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The activity reported on this statement covers a specified period of time, usually one month or one year. Ultimately, your nonprofit financial statements are snapshots of your financial health and activities that you can use to improve your decision-making and secure more support down the line. A nonprofit consultant can work with your team to…

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Schedule B requires you to list all your sources of interest and dividend income, including any foreign dividends. Reporting foreign income to the IRS is a critical aspect of tax compliance for U.S. citizens and residents. Depending on the type of income and your specific circumstances, you may use different forms and reporting methods. It’s…

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If you work hard and stay consistent with any of the options in this article, over time, you will start to see some serious income rolling in. Sometimes you just need a temporary income boost to get you over the hump of some financial struggles. But honestly, once you increase your income, you may end…

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These deposits are made to deposit accounts such as savings accounts, checking accounts and money market accounts. A business uses term deposits to earn interest on surplus cash, and records a fixed deposit journal entry to reflect the transfer of cash from its current account to a fixed deposit account. When you balance the books…

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This systematic allocation of prepaid expenses to the periods in which they relate ensures that financial statements accurately reflect the period’s expenses in relation to the revenues they help generate. Deferral accounting, in contrast to accrual accounting, focuses on the timing of recognition of certain transactions. This approach involves postponing the recognition of revenues and…

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General economic conditions could be impacting customer cash flows, requiring them to delay payments to their suppliers. This issue is a major one, since the problem arises entirely outside of the business, giving management no control over it. An increase in the average collection period can be indicative of any of the conditions noted below,…

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This $2,000 amount is a capital contribution since Tom has contributed capital in the form of cash and property to the business. Generally, when looking at equity you want to consider the value of something and how much you owe is on that value. Venture capital, on the other hand, most often involves taking only…

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