Category Archives: Bookkeeping

Lili will generally post these transfers on the day they are received which can be up to 2 days earlier than marginal revenue and marginal cost of production the payer’s scheduled payment date. Wire Transfer service provided by Column Bank N.A., Member FDIC. All wires are subject to acceptance criteria and risk-based review and may […]

Shopping for small business accounting software can be painful and confusing. To make your search easier, we’ve narrowed it down to these twelve picks. Cash flow, balance sheets, financial statements, and the like are all sensitive, confidential information. What is Outsourced Accounting? When a business outsources its accounting, it essentially transfers responsibility for some or […]

There are bank-only transactions that your company’s accounting records most likely don’t account for. These transactions include interest income, bank deposits, and bank fees. To ensure that your books are accurate, it’s important to reconcile your bank, credit card and petty cash accounts. You’ll need to adjust the closing balance of your bank statement in […]

Chartered accountant Michael Brown is the founder and CEO of Double Entry Bookkeeping. He has worked as an accountant and consultant for more than 25 years and has built financial models for all types of industries. He has been the CFO or controller of both small and medium sized companies and has run small businesses […]

Content Free Financial Statements Cheat Sheet Types of Earned Income Credit Cards Taxes on Unearned Income Unearned income is not acquired through work or business activities. Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. You must generally have earned income to make traditional IRA or Roth IRA contributions. These […]

Publishing a classified balance sheet also makes it easy for regulators to point out an issue in the initial stages rather than in the final stages when irrevocable damage has already been done. It shows the value of the company’s ownership after all debts are paid. It’s important for users of a classified balance sheet […]

Content Difference between Bookkeeping and Accounting: Content: Bookkeeping Vs Accounting What Bookkeeping and Accounting Roles Typically Consist Of Accounting Qualifications Definitions: Bookkeeping vs Accounting Accounting is recording, measuring, grouping, summarizing, evaluating and reporting of transactions of the entity which are in monetary terms. With many accounting automation solutions available on the market, bookkeepers have been […]

The CM ratio is a useful tool for managers when making decisions such as setting sales prices, selecting product lines, and managing costs. It is also used in break-even analysis and to measure operating leverage. The $30.00 represents the earnings remaining after deducting variable costs (and is left over to cover fixed costs and more). […]

Instead of listing every specific entry, and matching it with the corresponding debit or credit, accountants can lump multiple entries into one transaction. Although it can save accountants time and energy, the risk of messing up on even one minute detail is a lot higher than just regular simple entries. Even a single error can […]

The goal of every church is to grow and spread God’s word to more people. The result of this growth is often a need for a larger facility. As your church grows, you may have the dream of a larger building in how to create a church budget your mind. Line-item budgeting is the most […]