If the same crane initially cost the company Bookstime $50,000, then the total amount depreciated over its useful life is $45,000. If a company wants to front-load depreciation expenses, it can use an accelerated depreciation method that deducts more depreciation expenses upfront. Many companies use a salvage value of…

Now that you are familiar with some basic concepts of the accounting equation and balance sheet let’s explore some practice examples you can try for yourself. Under all circumstances, each transaction must have a dual effect on the accounting transaction. For instance, if an asset increases, there must be…

When you are ready to receive your QuickBooks ProAdvisor Program, you need to visit the official QuickBooks website and sign up. With these automated marketing tools, you can save time, effort to focus on working and getting more new deals. Submit your CPE certificate to the National Association of…

Let the person or entity know you plan to deposit the check, so they can make sure their account has the funds. Stale-dated checks are outdated checks issued to the bank after the payment date has expired. Hence, an employer must be very cautious about issuing checks for different…

It focuses on gross profit as the total sales minus the cost of goods sold by separating product costs and period costs. A quarterly income statement shows the gross profit or loss generated by your business over a three-month period. It can also be referred to as a profit…

He currently researches and teaches economic sociology and the social studies of finance what’s the difference between a credit memo credit and a refund at the Hebrew University in Jerusalem. The total debit balance of $30,000 matches the total credit balance of $30,000. With double-entry accounting, when the good…

With a professional sales and marketing team and millions in venture capital dollars to blow through, ScaleFactor grew very quickly. Pilot is just as slick at sales and marketing, and is likely growing just as fast, if not faster. That fast growth is probably the number one contributor to…

Clear can also help you in getting your business registered for Goods & Services Tax Law. Just upload your form 16, claim your deductions and get your acknowledgment number online. You can efile income tax return on your income from salary, house property, capital gains, business & profession and…

The Equal Employment Opportunity Commission has jurisdiction over employers with fifteen or more employees. Once you’ve signed and dated Section 2, and Section 3 if applicable, the I-9 form is complete. Instead, the last action you’ll need to take in regards to the I-9 form is to ensure that…

Both consumers and governments penalize firms for adversely affecting the environment. Companies are also rewarded for having a positive impact on the environment. Consumers are willing to switch brands if they find a business ignoring its environmental duties. Recognizing evolving technologies to optimize internal efficiency is a great asset…