Accumulated depreciation records the amount of the asset's cost that has been expensed since it was put into use. Accumulated depreciation has a normal credit balance that is subtracted from a Plant and Equipment asset account on the balance…

In addition, a company's net receivables are highly subject to general economic conditions. Regardless of the entity's procedures, the figure tends to worsen as financial conditions worsen in the general economy. For example, if analyzing fiscal year 2022, you need…

We’ve got you what is a purchase allowance covered with a breakdown of the four QuickBooks Online (QBO) plans. Learn how to know which plan is right for you and what additional costs to expect before subscribing to QuickBooks Online.…

As part of the manufacturing process, your business is likely to have items in production that have not yet been completed. Technology and global trends are always changing – and so must a manufacturing business if it wishes to stay…

If you'd prefer not to do the math manually, you can use the compound interest calculator at the top of our page. Simplyenter your principal amount, interest rate, compounding frequency and the time period. You can also include regular deposits…

A company indicates a deficit by listing retained earnings with a negative amount in the stockholders’ equity section of the balance sheet. The firm need not change the title of the general ledger account even though it contains a…

With an invoicing software, you can track  payment status, set automated payment reminders to be sent out, and customize your invoices according to individual customers. The additional advantage here is that the invoices have the payment terms (Net 30 or Net 60) and the…

Tailwind TMS provides a full range of invoicing and bill payment features. It’s an ideal solution for businesses needing a comprehensive trucking management system. It does not include payroll or bank reconciliation but can integrate with Quickbooks to give a…

Financial analysis of an income statement can reveal that the costs of goods sold are falling, or that sales have been improving, while return on equity is rising. Income statements are also carefully reviewed when a business wants to cut…

The products in the ending inventory are either leftover from the beginning inventory or those the company purchased earlier in the period. LIFO in periodic systems starts its calculations with a physical inventory. In this example, we also say that…