Category: Bookkeeping
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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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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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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 […]
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Nonprofit Accounting & Bookkeeping Services
Content The Best Guide to Bookkeeping for Nonprofits: How to Succeed The IRS Warns Businesses About ERC Scams How Much Does Nonprofit Bookkeeping Cost? Midsize Nonprofit These rapid changes demand the working knowledge of a qualified accountant not-for-profit specialist. Unlike traditional accounting for businesses, a CPA for nonprofits needs to be highly specialized, and requires […]
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Ask the taxgirl: Social Security Numbers for Dependents
Content Empire State child credit Your Government Determine your tax residency status SSN or ITIN for Dependents For a complete listing of the FTB’s official Spanish pages, visit La página principal en español (Spanish home page). It’s important to note that the alternative identifying information procedures in this Notice may only be used for the […]
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Financial Statements 101: How to Read and Use Your Balance Sheet
This asset section is broken into current assets and non-current assets, and each of these categories is broken into more specific accounts. A brief review of Apple’s assets shows that their cash on hand decreased, yet their non-current assets increased. When analyzed over time or comparatively against competing companies, managers can better understand ways to […]