It serves as a blueprint for handling returns and sets clear expectations for both staff and customers. The policy should be comprehensive, covering all possible scenarios and outcomes of a return transaction. It must delineate[…]

A higher net worth could also affect your eligibility for certain tax deductions or credits. The exact amount to be paid will depend on your income for the given year as it’s quite a possible[…]

The entity needs to perform fixed assets revaluation for all of the fixed assets in the entity. However, when you use your credit card for any transaction, you are actually using the intangible form of[…]

It represents a liability on the company’s balance sheet as the obligation to fulfill the promised goods or services still exists. Unearned revenue is initially recorded as a liability and then recognized as revenue when[…]

Businesses and individuals alike can use it to track performance, optimize pricing, or calculate profitability. The percentage of credit sales method involves forecasting sales or related expenses (such as receivables) based on the percentage of[…]

All About Businesses has been serving Portland and nearby areas for more recording transactions than nine years. It offers bookkeeping services to individuals and small and medium-sized businesses. Its staff handles weekly bookkeeping, payroll management,[…]

QuickBooks does not include split billing, or the ability to attribute invoices across different attorneys. Both QuickBooks Professional and Online provide capabilities to give your accountant access to your books. QuickBooks includes fundamental reports (Income[…]

Both companies must follow the matching principle, they record revenue and expense only when the service is consumed and provided. However, this article will only discuss the insurance premium paid by the customer which is[…]

Properly preparing a statement of retained earnings is essential for ensuring the accuracy of financial reporting and demonstrating a company’s commitment to transparency and accountability. The accountant then subtracts the company’s dividends of $50,000 from[…]

All your bills and receipts are securely stored in the cloud; searchable and easy to access from anywhere in the world. We have been using Hubdoc for the past 24 months, and in all honesty[…]