Retained earnings at the beginning of the period are actually the previous year’s retained earnings. This can be found in the balance of the previous year, under the shareholder’s equity section on the liability side. In our example, December 2023 is the current year for which retained earnings need to be calculated, so December 2022 […]

If a large portion of receivables remains uncollected for extended periods, it may indicate problems with tenant creditworthiness or inefficiencies in the collection process. This situation can lead to an increase in the allowance for doubtful accounts, which is recorded as an expense on the income statement. An elevated expense for doubtful accounts reduces net […]

Once you have determined all deposits have been recorded properly, open the Bank Deposit screen again and review what is in the Undeposited Funds account. Head over to the plus sign icon + and select Receive Payment. Choose your customer from the drop-down menu and their open invoice will automatically show up on the list. […]

This time, I’ll be sharing how how to account for dividends paid: 12 steps I managed to grow my followers on LinkedIn. This received a ton of media attention because it was around the time when people first learned about Bitcoin after its massive price increase from only a few dollars to over $1,000. Choose […]

Whether you choose to work with us, or seeking one-time fitness business advice, we’re here to help. We understand the massive investment of money, energy and time that was bet on your fitness studio. We’re passionate about fitness, too, and we know that no one starts a fitness business without https://www.bookstime.com/ loving it first. We LOVE the […]

Independent contractors are business owners, meaning they set their fees and can have more than one client at the same time. When you interfere with the financial side of an independent contractor’s business, you’re crossing the independent contractor-employee line. The most noticeable difference between contractors and employees pertains to benefits and protections. Employees are often […]

The format of a double-column cash book given above has six columns on both debit and credit sides. The purpose of cash and bank columns has already been explained at the start of this article. The purpose of the date, description, voucher number (VN), and posting reference (PR) columns has been explained in the single-column […]

The 21st century has seen an increase in Challenger banks in the United Kingdom, with benefits including fee-free overseas spending. Notable challenger banks include Monzo, Revolut and Starling Bank. The major debit card vendors in Brazil are Visa (with Electron cards), Mastercard (with Maestro cards), and Elo. However, if you have overdraft protection on your […]

With GoDaddy Bookkeeping, these online sellers will quickly and easily be able to manage their finances with automatic access to their sales data within one system. Project management is lacking, along with payroll, bill-pay, inventory management and other features larger businesses would quickly miss. To be fair, GoDaddy is not competing against QuickBooks or Xero, […]

61% of freelancers today say their biggest problem is landing clients, so streamlining their process can clear room in their schedule to pursue their next gig. QuickBooks Online pricing offers five main plans, plus a host of add-ons for an extra monthly charge. Since you don’t have the additional cost of file hosting and servers, […]