Ask potential providers about their data privacy and security policies and any certifications or audits they may have undergone to demonstrate their commitment to safeguarding your financial information. Despite the myriad benefits of outsourcing your AP processes, it may not be the best choice for you. You may have hesitations about working with a third-party, …

The Pros and Cons of Outsourcing Accounts Payable: An In-Depth Analysis Read More »

This may include parts, supplies, equipment, and inventory for their products. A sales ledger is a detailed list in chronological order of all sales made. This ledger is often also used to keep track of items that reduce the number of total sales, such as returns and outstanding amounts still owed. A general ledger is …

Accounting Ledger Definition, Purpose, and Example Read More »

For tax purposes, only prescribed methods by the regional tax authority is allowed. By dividing the $4 million depreciation expense by the purchase cost, the implied depreciation rate is 18.0% per year. If the company was using the straight-line double declining balance method depreciation method, the annual depreciation recorded would remain fixed at $4 million …

Calculating double-declining balance depreciation for tax purposes in Excel using the variable-declining balance function Read More »

If a debt security is expected to be held for longer than one year, it should be classified as a long-term investment on the company’s balance sheet. Marketable securities are liquid financial instruments that can be quickly converted into cash at a reasonable price. The liquidity of marketable securities comes from the fact that the …

How do marketable securities impact a company’s financial statements? Read More »

Then click through for details to gain insights that can help your teams expand on and learn from your successes. This dashboard visually represents asset distribution, liability breakdowns, and equity analysis. It streamlines financial reporting and enhances understanding of capital structure. This dashboard can act as the primary goal for your finance team as well …

12 Financial Dashboard Examples & Templates Read More »

This involves an outstanding interface, multiple customer support channels, and a detailed knowledge base. We awarded a higher ease-of-use score to all-in-one software that doesn’t require an accounting integration. As for integrations, Soluno partners with several leading platforms, including QuickBooks for accounting, LawPay for online payments, and Microsoft Office for productivity. Its platform is designed …

6 Best Law Firm Accounting Software in 2024 Read More »

This can also provide a leveraging tool to the companies to deal with clients whom are always late in paying their accounts receivables. These are the types of aging accounts receivables for which companies worry most. The doubtful accounts receivables are taken from this type of aging accounts receivables. Additionally, the aging of accounts receivables …

How to Use an Accounts Receivable Aging Report Read More »

It may be worth it for you to add individual kitchens and bathrooms to each unit to both appreciate and add value to the property while making your stay a little easier. Not in all cases, but escrow agreements should require interest-bearing accounts when escrow funds can generate significant interest for one or more of …

Real estate accounting: A clear and simple guide for 2022 Read More »

Our amortization calculator will amortize your debt and display your payment breakdown of interest paid, principal paid and loan balance over the life of the loan. Loan amortization is the process of making payments that gradually reduce the amount you owe on a loan. Each time you make a monthly payment on an amortizing loan, …

What Is The Amortization Schedule For A 30 Year Mortgage Read More »

Adjusting entries are prepared to update the accounts before they are summarized in the financial statements. Some errors could exist even if debits are equal to credits, such as double posting or failure to record a transaction. Also known as Books of Final Entry, the ledger is a collection of accounts and shows the changes …

Nine Steps In The Accounting Cycle? Prepare Financial Statements Read More »