Cash vs Accrual Accounting: Differences Explained
All money earned by employees shows up in that account, which is a liability on the balance sheet. Most small businesses with payroll use accrual accounting, since payroll has both an accrued account and an expense account. Most agricultural businesses use cash accounting to balance out volatility in the agricultural markets and manage operations consistent […]
QuickBooks Wikipedia
QuickBooks will send a personalised reminder email when a customer’s due date is approaching. Schedule invoices to be sent automatically or send invoices in batches to increase efficiency. In line with Intuit’s discontinuation plan for older products, discontinued products cannot be registered for the first time. You can re-register discontinued products if they have been […]
Delaware Franchise Tax: Everything You Need to Know
To file as a foreign corporation, mail in the necessary documents. The Delaware franchise tax for foreign corporations is due by June 30 every year. If your company falls into the maximum stock option of 5001 or more shares, there are two possible methods to calculate the Delaware franchise tax. If so, that document can […]
Inventory Management
J&L can make predictions for their costs because they have the data they need, but what happens when a business wants to estimate total costs but has not collected data regarding per-unit costs? This is the case for the managers at the Beach Inn, a small hotel on the coast of South Carolina. They know […]
What is the difference between a deferred expense and a prepaid expense?
Common prepaid expenses may include monthly rent or insurance payments that have been paid in advance. Both prepaid expenses and deferred expenses are important aspects of the accounting process for a business. As such, understanding the difference between the two terms is necessary to report and account for costs in the most accurate way. Even […]
Xero vs Wave
Wave Accounting, on the other hand, only syncs with Wave Payroll. Users can connect their favorite small-business payroll software to Wave through Zapier, but it’s not as easy or streamlined as using a built-in connection path. Integrates with more than 750 apps and offers live, in-house bookkeeping add-on. Yes, the price of your monthly payroll […]
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Therefore, using a tried and tested accounting software brand is often the way to go for many. This route also ensures your software is reasonably future proof and is adaptable as requirements and legislation changes. Kashoo shines when it comes to multi-currency support, an important feature for today’s global economy. It also supports credit card […]
New Zealand GST and GST Return Guide
This amount can be offset against the $54,750 GST collected total to determine the net GST payable. With Deskera, you can easily apply the New Zealand GST tax rates to your transactions and generate a proper sales invoice. This rule does not apply to you if your taxable period ends on 31st March and 30th […]
How Salvage Value Is Used in Depreciation Calculations
The individual components, known as scrap, are worth something if they can be put to other uses. Sometimes scrap materials can be used as-is and other times they must be processed before they can be reused. An item’s scrap value—also called residual value, break-up value, or salvage value—is determined by the supply and demand for […]
Visa Prepaid Reloadable Personal Cards Visa
And you could think of these phones as disposable, but most people won’t want to purchase a new phone each time they need to add minutes and data to their phone plan. Most people who opt to go the no-contract phone route plan to keep their phone for an extended amount of time; they prefer […]