Category: Bookkeeping

Finally, the vendor payable entry shows the business had to pay a vendor for more inventory, meaning their account was credited for the $450, while assets increased, and were debited …

In this case, the applicable expense is debited, and accrued expense is credited. Understanding the meaning of each debit and credit can be tricky when you’re dealing with returns. In …

You may also wish to check out ourrange of other finance calculation tools. The daily reinvest rate is the percentage figure that you wish to keep in the investment for …

In traditional situations and still in some family businesses today, the salesperson would then show the customer the summary, the invoice, for their agreement; but many shops today bypass this …

Some petty cash vouchers are prenumbered and sometimes a number is assigned for reference and control. Receipts or other documentation justifying the disbursement should be attached to the petty cash …

Apply to pay your balance over time with a payment plan (installment agreement). Whichever method you opt to use, you’ll be required to fill out IRS Form 1040-ES, which is …

In this guide, we’ll breakdown the basic steps for computing your quarterly income tax. If your gross income exceeds $150,000, you can avoid potential penalties by paying 110% of your …

We’ll assume you intend to leave the investment untouched for 20 years. Note, that if you leave the initial and final balances unchanged, a higher the compounding frequency will require …

This can help you better match your inventory levels with actual customer demand. A lower CCC signals that a business is able to convert its inventory and receivables into cash …