Categoría: Bookkeeping

  • Which account types have a normal debit balance and why?

    At this point, the costs incurred during the production process need to be transferred from the Work in Process Inventory to the Finished Goods Inventory. The Work in Process Inventory account represents the costs of partially completed products that are still in the production process. As the job is completed, these costs need to be…

  • What Is A General Ledger & What Can A GL Do For You?

    The new balance for the cash account, after the net change from the transaction, will then be reflected in the balance category. In a computerized system, the general ledger will be an electronic file of all the needed accounts. This also facilitates the electronic preparation of the company’s financial statements. For example, you need to…

  • Debt-to-Asset Ratio: Calculation and Explanation

    Debt-to-assets ratios can be used to compare these different sets of financial indicators. From a pure risk perspective, lower ratios (0.4 or lower) are considered better debt ratios. Since the interest on a debt must be paid regardless of business profitability, too much debt may compromise the entire operation if cash flow dries up. On…

  • Tangible Assets: Definition, Examples

    The appraiser is often an expert in a given field (i.e. an expert in a specific type of collectible or an expert in real estate). The appraiser evaluates the condition of the tangible asset as well as incorporating external factors impacting the value. One of the most interesting features of a tangible asset is that you can…

  • Remote Bookkeeping, Accounting, Tax and Audit Positions

    With the payment of a small monthly membership fee, you can gain access to these job listings. The second most popular source of remote accounting jobs is the Software as a Service (SaaS) market. There are several how to find remote accounting jobs SaaS companies that have come up all around the world owing to…

  • How to ask for more money as a software developer

    If a mistake goes to court, it can mean both big fines for you and a marked reputation for your business. Make sure you are fully covered legally against mistakes made by contractors architectural accounting or the owner in your project contracts. It’s also worth seeking legal advice to help you draw up a standard…

  • Adjusting Journal Entries: Definition & Types

    Thus, adjusting entries help you keep your accounts updated before they are summarized into the financial statements. Adjusting entries are made for accrual of income, accrual of expenses, deferrals (income method or liability method), prepayments (asset method or expense method), depreciation, and allowances. These categories are also referred to as accrual-type adjusting entries or simply…