It is an all in one accounting tool that manages your bookkeeping needs. Take your business to the next level and get paid faster with FreshBooks. Oversee all your accounting tasks without ever leaving FreshBooks. Perhaps you’ve worked as a boo... Read more
Learn accounting fundamentals and how to read financial statements with CFI’s free online accounting classes. When a long-term asset is purchased, it should be capitalized instead of being expensed in the accounting period it is purchased in. A... Read more
Choosing the right depreciation method depends on your situation. Regulations may require you to use a particular type of depreciation. If they don't, you can choose the depreciation method that works best for your circumstances.You will do this calc... Read more
Single-entry accounting is more like using a checkbook than an accounting journal, although businesses will still want to keep receipts and the details about their financial transactions. Since there are so many different types of business transactio... Read more
For a list of current and prior year mileage rates see the Standard Mileage Rates. Business write offs are included on annual income tax returns. The exception to this is partnerships, who need to submit an information return.The Section 179 deductio... Read more
Instead of choosing the cheapest software possible, look for a scalable option. For instance, QuickBooks provides pricing plans for businesses of all sizes. That way, you can start small and add additional features as your business continues to grow.... Read more
These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate.... Read more
And whenever expense increases for the company, the company debits the interest expense account and vice versa. And also, the interest expense that needs to be paid after December 31st won’t be considered, as we discussed earlier. Interest paya... Read more
Current liabilities include accounts payable, wages, taxes payable, and the current portion of long-term debt that’s due within one year. The net working capital ratio measures a business’s ability to pay off its current liabilities with ... Read more
You can choose between an Excel document, a Google sheet, Quickbooks, or another tool, depending on the complexity of your business transactions. You also need to choose if you want to do this yourself, outsource the work, or if you want. Read more
