Bookkeeping

Content How To Record A Journal Entry For A Sale On An Account What Are The Differences Between General Ledger Vs Trial Balance? Equity Controlling Accounts Vs Subsidiary Ledger What Are The Types Of Ledgers And How Do They Work? What Is A General Ledger? Definition And Meaning Break Down Of Financial Information: This means that each transaction affects a minimum of two sub-ledger accounts, and every entry has one debit and one credit. These transactions, also called journal entries, are posted into two columns and the total of all entries must balance. When a business makes a transaction, it […]

Content Financial Glossary Accounts Receivable Turnover: How Does Accounts Receivable Turnover Ratio Affect A Company? Identify Net Credit Sales Which Is Better, Low Or High Ttm Receivable Turnover? Problems Associated With Ratio Accounts Receivable Turnover However, in general, the higher the receivable turnover, the more times a company collects payment from credit purchases. In the above example, the receivables turnover of 5 means the company collects account receivables 5 times per year. It shows how efficiently the company collects payments from its customers. There are several types of indicators that are commonly referred to as asset-management ratios or asset-utilization ratios, […]

Content Three Important Decisions About Cost Direct Labor Efficiency Variance Calculation Direct Labor Variances Variable Factory Overhead Variances Which Of The Following Does The Efficiency Variance Measure? Fixed Overhead Volume Variance Formula Direct Material Price Variance: Note that the spending variance is the sum of the variable overhead spending variance and the fixed overhead spending variance. For Adler Company, the variable overhead spending variance is $1,000 Favorable and the fixed overhead spending variance is $1,000 Unfavorable, so the overall spending variance is indeed zero. The standard QuickBooks hours for actual production equal direct labor hours. Fill in the following table, […]

Content Lease Accounting: Operating Leases, Finance Leases, And The Confusing, Changing Rules Thoughts On financial And Operating Lease Accounting By Lessee And Lessor Does The Contract Contain A Lease? Are You Already Compliant With Asc 842? The Fastest, Easiest Way To Comply With Asc 842, Ifrs 16, And Gasb 87 Guaranteed Uts 142 3 Policy On Capital Leases Vs Operating Leases For Lessees Unguaranteed Residual Value Accruing To The Lessor Lessor Accounting For A Lease How Do I Know If I Have Control Of A Leased Asset? When you are ready to implement the new lease standard, you need to […]

Content More Resources Difference #2: Fund Accounting The 8 Best Nonprofit Financial Management Training Courses And Where To Find Them Is There A Difference Between Profit & Nonprofit Accounting? Financial Management Nonprofit Accounting Explanation What Is Fund Accounting? An accrual accounting system records transactions in the period where they are earned, pledged, or incurred. And it’s the core metric that outside observers will use to measure your organization’s financial value . This post is to be used for informational purposes only and does not constitute legal, business, or tax advice. Each person should consult his or her own attorney, business […]

Content Credit Memo Sample Clauses Learn More About Similar Accounting Topics: Credit Note Download A Free Copy Of “preparing Your Ap Department For The Future”, To Learn: What Can I Do To Prevent This In The Future? Learn How To Create A Sales Credit Memo Customers The supplier should include the products, quantities, and the product or service prices that were agreed upon by both parties. The credit note normally references the original invoice and states the reason for the credit note. These one-time events are independent of ongoing recurring subscription billing activity, such as billing mistakes, programmatic discounts, price […]