da migual | Mag 17, 2023 | Bookkeeping
These accounts will be temporary, meaning that they will begin with a zero balance and end with a zero balance. These temporary accounts, therefore, will not appear on the balance sheet. Their net effect will be transferred into Retained Earnings in what is called a...
da migual | Mar 17, 2023 | Bookkeeping
LLP’s are meant for professional service providers such as accountants, architects, and law firms where two or more professionals build a joint practice in their field. When you register as an LLP, ACRA might require additional vetting from other agencies before...
da migual | Mar 6, 2023 | Bookkeeping
The original journal entry, as well as the adjusting entry and the relevant T-accounts, are illustrated below. Suppose that Smith Company, which has a yearly accounting period ending on 31 December, purchases a two-year comprehensive insurance policy for $2,400 on 1...
da migual | Gen 23, 2023 | Bookkeeping
ContentWhy Can a Business Show a Profit & Not Have Enough Cash to Pay Its Obligations?Eight typical reasons for cash flow problems:How Do You Calculate Business Service Revenue?Requirements for Managing Cash FlowLearn How NetSuite Can Streamline Your...
da migual | Ago 22, 2022 | Bookkeeping
ContentWhat is double entry for credit orders?Read More Mortgage GuidesBenefits of Unearned IncomeChild maintenance and buy to let property incomeDeferred Expenses vs. Prepaid Expenses: What’s the Difference? – Investopedia You pay tax on rental income like any other...
da migual | Giu 7, 2022 | Bookkeeping
Trained accountants can spot red flags ahead of time and notify you about things like cash electronic filing e flow discrepancies. If errors in your books keep appearing, that means the person taking care of your books is not doing the right job. By outsourcing these...
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