by miaperdomo | 17. Nov 2021 | Bookkeeping
Such asset classes include cash and cash equivalents, accounts receivable, and inventory. It is important to note that a balance sheet is just a snapshot of the company’s financial position at a single point in time. If a balance sheet doesn’t balance, it’s...
by miaperdomo | 28. Apr 2021 | Bookkeeping
While some owners manage all the project billing on their own, others will bring in architects or a construction manager who will handle billing for them. A third party reviewing the billing may necessitate an onsite review of the work done to date. Now let’s walk...
by miaperdomo | 8. Dec 2020 | Bookkeeping
For example, if you already sell your products or services with razor-thin margins, any discount might mean closing deals at a loss. Conversely, a sliding scale discount adjusts the percentage savings based on when the payment is made before the due date. So, the...
by miaperdomo | 3. Dec 2020 | Bookkeeping
Small businesses and individuals tend to use cash basis accounting. This resource introduces and explains basic accounting terms, principles, acronyms, and abbreviations. It was developed for students, entrepreneurs, and anyone else looking to brush up on essential...
by miaperdomo | 23. Oct 2020 | Bookkeeping
Get your questions about the financial side of your independent community pharmacy answered with these helpful websites. For example, ask your CPA how you compare to your peers in gross margin. This is a great starting point to see what you’re doing—or aren’t...
by miaperdomo | 28. Aug 2020 | Bookkeeping
Deferred Revenue is also known as Unearned Income or Unearned Revenue. Deferred revenue journal entry is passed to record the advance payments received for goods and services. In this case, the balance for cash/bank (debit balance) increases due to the inflow of...
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