Depreciation accounting can seem a bit overwhelming, but once you learn a little bit about why depreciation is necessary and how depreciation formulas work, you’ll see it’s fairly straightforward and easy to understand. Of course, there are some intricacies, and it can be a bit more complex depending on the type of business you are …
The Ins and Out of Depreciation Accounting & Depreciation Formulas Read More »
The Heart of Every Small Business Doing a cash flow analysis for a small business can make a huge difference when it comes to determining whether or not your business is on the right track. The objective in any business is to make a profit but you can’t really be sure you’re actually doing that …
The decision to capitalize assets or record a purchase as an expense is an area of accounting that confuses many bookkeepers and small business owners. For accounting purposes, always consult the guidelines and accounting principles found in the GAAP when in doubt. The process of writing off an asset can be done in several ways …
How Do you Capitalize Assets for a Small Business? Read More »
Your accounting work involves a lot of repetition. You send invoices. Pay bills. Create purchase orders. Generate payroll checks and submit payroll taxes. Some of the time, you only fill out those transaction forms once. You might be doing a one-time purchase, like paying for some new office furniture. Other times, though, you’re paying or …
Setting up your accounting financial software can be a daunting task. It is not something you can just “wing it” especially if you have “accounting history”. If you will take the extra time to set it up properly, you will get more accurate reports and be more likely to continue using the accounting software efficiently. …
Set-up Your Accounting Financial Software Right the First Time to Avoid Problems Later! Read More »