Category: Bookkeeping
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Retirement Income Exclusion Georgia Department of Revenue
Content Retirement Savings Rate Funding your retirement with a strategic distribution plan Infographic: Understanding your Social Security benefits Explore personal banking How to boost average retirement income Be tax smart Volatility profiles based on trailing-three-year calculations of the standard deviation of service investment returns. Insurance products are available through various affiliated non-bank insurance agencies, which […]
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Debt-Service Coverage Ratio DSCR: How to Use and Calculate It
Learn project finance modeling, debt sizing mechanics, running upside/downside cases and more. The macroeconomic environment can influence the minimum DSCR a lender requires, among other factors. Lenders might be more tolerant of lower ratios if the economy is expanding. To learn more about using Excel for assessing finances, you can read our post on how […]
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Demystifying Encumbrance Accounting: Definition And Recording
With the use of encumbrance accounting software, organizations can save time and effort while maintaining the accuracy and integrity of their financial records. Non-profit organizations rely on encumbrance accounting to manage their restricted funds effectively. These organizations often receive grants and donations that come with specific spending restrictions. Encumbrance accounting helps track and allocate these […]
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What Are Payroll Liabilities? Definition and How to Track
These liabilities are all expenses that you will have to pay out in the near future, so they’re critical to track and manage carefully. They can be easy to overlook because they’re due later, but failing to anticipate and track them can mean running into big problems down the line. That’s why we recommend using […]
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What is a Current Liability? Definition Meaning Example
Content Current asset / Current accounts Related Terms Example of Current Liabilities What Are Current Liabilities? Free Financial Statements Cheat Sheet What you need to know about current liabilities. Liabilities are the obligations of a company that are settled over time once economic benefits (i.e. cash payment) are transferred. The proper classification of liabilities provides […]
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Blue collar worker definition: What is it and where does it come from?
The Industrial Revolution ushered in the era of the blue-collar worker when individuals began moving from rural areas in search of work. The white-collar job, on the other hand, rose in prominence in the 20th century. These terms also carry the perception that white-collar workers not only make more money than blue-collar workers, but that they […]
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What is a Journal Entry in Accounting? South Africa Small Business Centre
Below are two examples of journal entries- one to the general journal, and another to the sales journal. Thus, various adjusting entries include entries for accrued expenses, accrued revenues, prepaid expenses, deferred revenues, and depreciation. Hence, such an investigation helps you to avoid looking for errors later. Furthermore, such a comparison becomes a lot easier […]
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How to account for land improvements
You retire property from service when you permanently withdraw it from use in a trade or business or from use in the production of income because of any of the following events. Continue to claim a deduction for depreciation on property used in your business or for the production of income even if it is […]
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What Is Bookkeeping? Definition, Tasks, Terms to Know
When it’s finally time to audit all of your transactions, bookkeepers can produce accurate reports that give an inside look into how your company delegated its capital. The two key reports that bookkeepers provide are the balance sheet and the income statement. The goal of both reports is to be easy to comprehend so that […]
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What Is a Compensating Balance?
Content Up Next: What Is Joint Supply? Resources for YourGrowing Business Origin of compensating balance Principal Curtailment – How Mortgage and Loan Curtailment Works This means that the business can only use $90,000 of the loan proceeds and must keep $10,000 on deposit with the bank. For the bank, the extra $20,000 compensating balance serves […]