Author: protecos

However, some larger office equipment may provide a benefit to the business over more than one accounting period. An amount spent is considered a current expense, or an amount charged in the current period, if the amount incurred did not help to extend the life of or improve the asset. In contrast, if Liam had… Continue reading Capitalized Cost: Definition, Example, Pros and Cons

The single-step income statement is easier to prepare and provides the information you need. Because gross profit focuses only on sales revenue and cost of goods sold, business owners have a better idea about how profitable their core business operation really is. In contrast to a multi-step income statement, the Dana Incorporated income statement is… Continue reading Unlocking the Power of a Multi-Step Income Statement: Must-Know Tips

Cash back earned each month will be credited to your account by the next month’s statement cycle. ATM transactions, the purchase of money orders or cash equivalents, loan payments and account funding made with your debit card are not eligible for cash back rewards. Instead, you want comprehensive, intuitive, and powerful software to handle the… Continue reading A Beginner’s Guide to Rental Property Bookkeeping

There are several ways to compare the factor of safety for structures. All the different calculations fundamentally measure the same thing, how much extra load beyond what is intended a structure will actually take (or be required to withstand). The difference between the methods is the way in which the values are calculated and compared.… Continue reading What Is the Margin of Safety? Formula to Calculate It

In this example, assume that any credit card sales that are uncollectible are the responsibility of the credit card company. It may be obvious intuitively, but, by definition, a cash sale cannot become a bad debt, assuming that the cash payment did not entail counterfeit currency. The income statement method (also known as the percentage… Continue reading 10 3: Direct Write-Off and Allowance Methods Business LibreTexts

With https://www.facebook.com/BooksTimeInc/ any of the Hiveage plans you will get unlimited invoices, payment reminders, time tracking, expense tracking, mileage tracking, reporting, and more. Invoicing software is a tool that helps freelancers create and send invoices to their clients, track payments, manage expenses, and… The Invoice Machine is another platform designed with freelancers and small business… Continue reading 10+ Best Invoicing Software for Freelancers & Small Business