Category: Bookkeeping

Many applicants have reported that IRS lost their passports or other valuable and hard-to-replace identification documents. Consider getting certified copies or using one of the application methods listed below, rather than mailing original identification documents to the IRS. To obtain an ITIN, you must complete IRS Form W-7, IRS Application for Individual Taxpayer Identification Number.… Continue reading About Form W-7, Application for IRS Individual Taxpayer Identification Number Internal Revenue Service

Also known as operational expenditure and operating expense, it is an ongoing cost that a business has to spend to run its day-to-day operations. The benefits derived from such expenses are exhausted within the same accounting period and don’t carry forward. The accounting treatment for capital expenditures (CapEx) and operating expenses (OpEx) differs in terms of… Continue reading CapEx vs OpEx: Comparing Capital Expenditures & Operating Expenses

Also known as operational expenditure and operating expense, it is an ongoing cost that a business has to spend to run its day-to-day operations. The benefits derived from such expenses are exhausted within the same accounting period and don’t carry forward. The accounting treatment for capital expenditures (CapEx) and operating expenses (OpEx) differs in terms of… Continue reading CapEx vs OpEx: Comparing Capital Expenditures & Operating Expenses

Start by choosing the financial statements that are relevant to your analysis objectives. Consider which statements provide the most meaningful insights based on your analysis goals. Items such as expenses, current assets, liabilities, among many others may have been added or removed when compared to the base period and, as balances are compared sequentially, this… Continue reading Horizontal and vertical analysis Accounting and Accountability

Unlike VAT (which is not imposed in the U.S.), sales tax is only enforced on retail purchases; most transactions of goods or services between businesses are not subject to sales tax. Taxes you’ve added with this feature are calculated from your payout, but will be paid out separately. Your payout includes your nightly price, cleaning fee,… Continue reading Where do I enter my sales taxes paid?

In these types of scenarios, the management team’s decision to add more to its cash reserves causes its cash balance to accumulate. As per the balance sheet as https://www.quick-bookkeeping.net/independent-contractor-invoice-template/ on December 31, 2018, the owner’s equity is $50,000 and the retained earnings are $28,000. Calculate the company’s common stock based on the given information. Easy… Continue reading How to Find the Sum of Common Stock on a Balance Sheet The Motley Fool

Controllers spend a sizable portion of their time gathering data to report on current and past results—everything from cost-volume-profit analysis to balancing the books. The controller’s main focus is the daily management of the company’s financial records and accounting. CAOs, on the other hand, simultaneously https://www.bookstime.com/ keep an eye on the past, present, and future.… Continue reading Financial Controller Roles, Duties, Skillset, and Career Path

The best way to simplify the bookkeeping of your eBay business is by using the right accounting software. Financial management can indeed be stressful and time-consuming when you’re running your own business. But, the right tools can streamline your bookkeeping process to save you time. With a little bit of preparation, even novices will be… Continue reading eBay Business Accounts UK Seller Centre

When two or more individuals engage in enterprise as co-owners, the organization is known as a partnership. This form of organization is popular among personal service enterprises, as well as in the legal and public accounting professions. The important features of and accounting procedures for partnerships are discussed and illustrated below. Individuals in partnerships may… Continue reading Partnership: Definition, How It Works, Taxation, and Types

Financial liabilities can be either long-term or short-term depending on whether you’ll be paying them off within a year. How do we record working capital in the financial statementse.g I borrowed 200,000.00 Short term long to pay salaries and other expenses. Working capital as a ratio is meaningful when compared alongside activity ratios, the operating… Continue reading Cash Flow from Operations CFO Format + Examples