Category Archives: Bookkeeping

Thus, final accounts can refer to the final trial balance or the financial statements upon which they are based. The primary financial statements are the income statement, balance sheet, and statement of cash flows. Auditors rely upon a client’s final … Continue reading →

If you accidentally assign a deposit to the wrong customer, it can lead to inaccurate financial records and make it difficult to track your income. Next, choose the bank account where the incorrect deposit was recorded from the Select Account … Continue reading →

Depending on your situation, by increasing your product selection, you may be able to increase your overall sales. This can also help you reach new customers looking for more products. The average inventory is calculated by adding the beginning and … Continue reading →

By clicking “Submit,” you agree to permit Intuit to contact you regarding QuickBooks and have read and acknowledge our Privacy Statement. There are many aspects of being a business owner that drive success. Christine is a non-practicing attorney, freelance writer, … Continue reading →

Each staff reviewer at Merchant Maverick is a subject matter expert with experience researching, testing, and evaluating small business software and services. The rating of this company or service is based on the author’s expert opinion and analysis of the … Continue reading →

Commission accounting looks different than it used to now that ASC 606 is in effect. One of the biggest changes has to do with estimating and accounting for amortization. Understanding the meaning of each debit and credit can be tricky … Continue reading →

There are numerous factors that must be taken into consideration to accurately interpret a company’s historical retained earnings. The examples in this article should help you better understand how retained earnings works and what factors can influence it. Keep researching … Continue reading →

On the other hand, investors and traders are more interested in buying or selling a stock at a fair price. When used together, market value and book value can help investors determine whether a stock is fairly valued, overvalued, or … Continue reading →

After I disconnect the account can I reconnect it and have it merece this time with my existing a bank account? Thankfully I am just getting started by converting from desktop. Of course, errors do still occur — and that’s … Continue reading →

The outcome of the pending obligation is known and the value can be reasonably estimated. A contingent liability is an amount that you may have an obligation in the future depending on certain events. If the warranties are honored, the … Continue reading →