by admin | Jan 29, 2024 | Bookkeeping
They’re issued from a company’s retained earnings so only companies that are substantially profitable issue dividends with any consistency. Both forms of dividends offer certain benefits and limitations to investors and companies. It is suggested that...
by admin | Sep 12, 2023 | Bookkeeping
As seen in the journal entry above, prepaid rent is debited because it is an asset. According to the accounting debit and credit rules, all assets and expense accounts are debit entries. Hence, they increase with a debit entry and reduce with a credit entry. Besides,...
by admin | Aug 1, 2023 | Bookkeeping
This means it is taxed at the ordinary income tax rate, rather than a lower capital gains rate. Following structured accounts payable procedures will help you gain control over expenses, improve cash flow management, and prevent costly errors. Financial reports should...
by admin | Jul 31, 2023 | Bookkeeping
ACH debit refunds take three to seven days to process, meaning the funds will take three to seven days to return to the payer’s account. Many financial institutions also offer free resources and seminars on topics such as budgeting, investing, and retirement planning....
by admin | Apr 3, 2023 | Bookkeeping
Each method affects how revenue and expenses appear in your financial statements, so it’s important to choose the method that best reflects your operations. The balance sheet accurately tracks and reports these two sets of funds, helping you make sure you comply with...
by admin | Nov 11, 2022 | Bookkeeping
Understanding that land is a non-current asset leads us directly into the importance of an item’s useful life when categorizing assets. Companies keep land in their books under noncurrent investments because they use it to do business over a long stretch of time....
