by Patricia | Nov 7, 2024 | Bookkeeping
Keep in mind that your financial statements are only as accurate as the data you enter. To record the sale in your books, debit the cash account $100 and credit the sales account for the same amount. Remember that a single transaction results in at least two journal...
by Patricia | Jun 11, 2024 | Bookkeeping
In California that year, 47% of recipients took the full maximum 26 weeks of jobless benefits. Sacramento collects unemployment insurance taxes on the first $7,000 of wages per employee per year. Traub noted that most other states have a significantly higher taxable...
by Patricia | Jun 7, 2024 | Bookkeeping
Permanent accounts represent the performance of an entity for the life of an entity. The closing of income statement temporary accounts which is not a temporary account indeed is similar for all categories. Once reconciled, the ending balances are shifted from the...
by Patricia | May 14, 2024 | Bookkeeping
Lenders use the TIE ratio as part of their credit analysis to assess a company’s creditworthiness. A higher TIE ratio generally indicates a lower credit risk, which may result in more favorable lending terms and conditions for the borrower. Capital-intensive...
by Patricia | Feb 5, 2024 | Bookkeeping
It simplifies financial management, offering real-time data access and boosting transparency and teamwork. An expert accounting virtual assistant can guide you using cloud-based platforms, easing the financial management process and helping team members adapt to this...
by Patricia | Oct 24, 2023 | Bookkeeping
Evaluate volume and customization level for batch production scenarios. Direct costs, on the other hand, can easily be traced to specific products or services. If you manufacture face masks, you can calculate the amount of each fabric (raw materials) you use in each...
