Category: Bookkeeping

  • How To Use Xero Accounting Software 13-Step Guide

    Content Best Accounting and Bookkeeping Apps for Small Business Xero Features What support is offered for Xero? Commbiz mobile app – How it works for your business When you might choose Xero instead Add users Learn basic reports Includes audit trails and easy accountant access; has millions of users so your accountant will likely be […]

  • Debit vs credit accounting: The ultimate guide

    Content Company The Impact of a Drawing Account What are debits and credits? Is a prepaid debit card a checking account? Credit vs Debit Examples When your business does anything—buy furniture, take out a loan, spend money on research and development—the amount of money in the buckets changes. To ensure that everyone is on the […]

  • 25+ Free Bookkeeping Courses & Certification Learn Bookkeeping online 2023 Updated

    Content Small Business Administration (SBA) Bookkeeping FAQ Get Going With QuickBooks FAQs: How to Fund Your Business In 2022 ICS Canada’s Bookkeeper Online Training Browse online Bookkeeping courses The Instructor From this list, you can take any of the bookkeeping course to learn bookkeeping in details and become master of bookkeeping. The two primary principles […]

  • About Form 990, Return of Organization Exempt from Income Tax Internal Revenue Service

    There are also penalties (fines and imprisonment) for willfully not filing returns and for filing fraudulent returns and statements with the IRS (see sections 7203, 7206, and 7207). States can impose additional penalties for failure to meet their separate filing requirements. If you are filing a 2022 Form 990, you are required to file electronically. […]

  • Net Credit Sales Importance and Example of Net Credit Sales

    However, if net credit sales are left unchecked, they can quickly balloon into a massive quantity of receivables. It may then become a big burden for the firm, as it may result in bad debt issues, necessitating the creation of reserves for such bad debts, which are again unneeded costs for the organisation. Debtors may […]

  • Inventory: Discounts

    Content Extended COGS Formula What Is an Example of a Quantity Discount? Advantages and Disadvantages of Quantity Discounts Interpreting Your Business’s COGS Deciding to Take Advantage of an Early Payment Discounts as a Customer How to Calculate the Value of Ending Inventory Different businesses all over the world offer various types of discounts. It can […]

  • Instructions for Form 8606 2022 Internal Revenue Service

    Content Examples with Form 8606 How to set up backdoor Roth IRA Previously Deductible Contributions Will Be Taxed Part II of form 8606 How do you file taxes for a backdoor Roth IRA? What is a Back Door Roth IRA? What About a Rollover 401(k) to Roth IRA? The purpose of reporting the nondeductible contributions […]

  • Real Interest Rate: Definition, Formula, and Example

    Using the Effect function, you can calculate the real interest rate depending on the number of compounding periods per year. Interest rates are an essential part of our economy and our lives. By understanding how to calculate real interest rate, we can make more informed decisions about our finances. In finance, money in your hands […]