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    Depreciable Assets in Business

    Depreciable Assets in Business

    Overview Any enterprise has assets on its Balance sheet that are used for production and administrative purposes. During operation, these undergo natural wear and tear: furniture, appliances, industrial, commercial, office equipment, vehicles, and other fixed assets lose their original characteristics over time, become obsolete, their technical condition deteriorates, and, consequently, their cost also decreases. When […]
    ADP RUN Review: How ADP can help your business succeed

    ADP RUN Review: How ADP can help your business succeed

    Overview Individuals work hard to earn their money. A paycheck is a long-awaited reward for all that hard work. Many individuals are forced to live on a paycheck to paycheck basis, so it is no wonder that most employees expect employers to pay their wages in a timely and accurate manner. Payroll is a complete […]
    What Is Petty Cash and How Is It Used?

    What Is Petty Cash and How Is It Used?

    Definition Petty cash is used in companies for small dollar item purchases that need to be paid in cash. Usually, petty cash is used for purchases such as coffee, water, and donuts for meetings, postage, office supplies, or other miscellaneous expenses. Most businesses find it helpful to have a petty cash fund because it helps […]
    GoDaddy Bookkeeping Review

    GoDaddy Bookkeeping Review

    Overview Let’s face it, accounting is never the most exciting part of running a business unless you’re a trained accountant or enjoy playing with numbers. From keeping track of revenue sales and spendings to calculating taxes and employee payroll, there are many reasons why most business owners find accounting tasks boring. Unfortunately, it is nearly […]
    What You Should Know About Payroll Taxes

    What You Should Know About Payroll Taxes

    Overview Happy employees are key for business growth and development. It is essential that your workforce is paid accurately and on time. Payroll is not just exclusively paying employees on a month-to-month basis (or however often your business does it). Every business should also maintain thorough records and pay taxes on behalf of the employee’s […]
    Xero Review

    Xero Review

    Many would agree that accounting is the backbone of a business, and your success depends a lot on how you decide to manage it. More and more small and medium-sized companies are finding that it is best to do this using modern accounting software such as Xero and they have a very good reason for […]
    Adjusting Entries in Accounting

    Adjusting Entries in Accounting

    Adjusting Entries The main goal of any entrepreneurial activity is to make a profit. At the same time, an important function of accounting department is to determine and reflect in the financial statements the success or failure of the company in achieving this goal. To reflect the success of a company, accountants use the term […]
    What is a Purchases Journal? Meaning and Format

    What is a Purchases Journal? Meaning and Format

    There are service and merchandise businesses. Today, we are going to talk about merchandise businesses and how they use purchases journal in their bookkeeping system. But before we continue, let’s recall that merchandise is the item that you are going to use and sell. Just like a customer, businesses can come and buy things on […]
    Normal Balance Meaning and Explanation

    Normal Balance Meaning and Explanation

    The financial and economic activities of any organization and accounting are closely intertwined. The history of accounting is almost six thousand years old and dates back to the 4th century BC. The emergence of accounting is associated with human economic activities. Accounting is based on the implementation of control and accounting for the rational and […]
    How to Choose the Best Outsourced Bookkeeping Services

    How to Choose the Best Outsourced Bookkeeping Services

    When does a company need outsourced bookkeeping services? Accounting outsourcing is a fairly popular service not only among small and medium-sized business owners but also large companies that need to take the burden off their in-house specialists or outsource a certain area of accounting. The smaller the company, the more it has to overpay for […]