Because some types of income have unique tax implications, it can be important to check with your tax advisor about any tax consequences that may exist. Another important income stream can come from capital gains. You incur a capital gain when you sell an asset for more than what you originally paid for it. For …
Xero accounting and bookkeeping partners can also offer basic plans to clients who just need the essentials. We’re upfront about pricing, and provide full details of our pricing plans and optional extras. Where a feature is listed as an add on (like Xero Payroll, Xero Projects, Xero Expenses and Analytics Plus), its pricing depends on …
This practice involves comparing two sets of records to ensure the figures match. These are transactions that were recorded in QuickBooks but haven’t actually cleared the bank, such as checks that haven’t been cashed. Reversing reconciliation here keeps your records accurate, especially if the uncleared transaction never ends up coming through. Unmarked transactions are ones …
Conversely, if there is high demand for a particular type of asset, the salvage value may increase. Companies can also use industry data or compare with similar existing assets to estimate salvage value. For example, a delivery company might look at the value of its old delivery trucks for guidance. Suppose an asset for a …
Use a physical or virtual credit card to make vendor payments and eliminate manual credit card processing by depositing funds directly into vendors’ banks through ACH. Payments are recorded in Voyager in real time, keeping your payables information current. You can choose to pay vendors via mailed check, ACH or virtual credit card. Reduce cost …
This course will show you how to calculate your retirement number accurately the very first time – with confidence – using little-known tricks and tips that make the process easy. Many, or all, of the products featured on this page are from our advertising partners who balance sheet meaning compensate us when you take certain …
SurePayroll is a full-service payroll provider that offers a mobile app so you can run payroll from anywhere. It’s one of the few payroll bookkeeping services offering nanny/household payroll. It’s known for having excellent customer service, HR and compliance support, payroll reports and same-day payroll. And if you make a mistake, you can cancel payroll …
These include changes that take place because of stock splits and reverse stock splits. There are also considerations to a company’s outstanding shares if they’re blue chips. A company’s outstanding shares can fluctuate for a number of reasons. Companies typically issue shares when they raise capital through equity financing or when they exercise employee stock …
Logical as this may sound, the companies then conclude with a lower net income in the initial years of the asset’s life, when compared to the calculation through the Straight-line method. Double Declining Balance or DDB refers to the accelerated method of calculating depreciation in which asset value gets depreciated at twice the rate as …
Your bookkeeper will be your main point of contact, but at times you might hear from another member of your team. This is usually when your bookkeeper goes on vacation, is sick, or otherwise unavailable. Being good at the business side of veterinary medicine is good for business and good for patients. I suggest breaking …