Bookkeeping

Calculating gross income is a straightforward process that requires information about the total revenues and the cost of goods sold (COGS). Gross income represents your wages from your employer [...]

A statement of functional expenses for nonprofit organizations is a financial report that itemizes expenses according to their purpose. This report provides information on where resources have been committed [...]

Just as assets are categorized as current or noncurrent, liabilities are categorized as current liabilities or noncurrent liabilities. Typically, a balance sheet will be prepared and distributed on a [...]

While depreciation expense reduces the carrying value of fixed assets (PP&E) on the balance sheet, there is no actual cash outlay. Capital expenses are long-term investments you make to [...]

We credit the accumulated depreciation account because, as time passes, the company records the depreciation expense that is accumulated in the contra-asset account. However, there are situations when the [...]

Let us look at what accounts are entered as debit and credit entries in the double-entry system to answer this question. Conclusively, over the course of a company’s fiscal [...]

Certified public accountants can file taxes, perform audits, and even provide professional guidance on the best way to manage company finances. Chase Business Complete Checking offers a $300 bonus [...]

We strive to build strong and lasting business relationships with each of our clients. While she had mentors and people helping her make that transition, she says there was [...]

An accounts receivable aging report groups a business's unpaid customer invoices by how long they have been outstanding. It helps estimate uncollectible receivables and can improve collections. An aging [...]