Category: Bookkeeping
Mobile Time Tracking & Clock App for Employees
See articles customized for your product and join our large community of QuickBooks users. If you select today’s date and are still on the clock, select Submit and Clock Out. Rest easy knowing who’s working, what they’re working on, and what job they’re doing. Additionally, you can have peace of mind that the data is …
What Is A Suspense Account? Types And Example
The periodic average cost method shall be used in computing fuel inventories and consumption. Under this method, an average unit cost for each fuel type shall be computed by dividing the total cost of fuel available (Beginning Inventory plus Purchases) by the total gallons available. The resulting unit cost shall then be used to determine …
IRS Form 5564 Explained
This is because the commission is not going to receive the notice of deficiency after 90 days. At the same time and frequency, the IRS is allowed to cross-reference the information on your tax return as is submitted by financial institutions and employers. This means they have the authority to compare and verify the data …
The Million Dollar Surprise: How One Football Fan Won Big with TurboTax Intuit TurboTax Blog
Sweepstakes Lovers is the go-to place to find a list of Sweepstakes and enter online for a chance to win cash, cars, and trips. Experience the ultimate touchdown of your financial dreams with the TurboTax Super Bowl Sweepstakes! If you caught the thrilling TurboTax Super Bowl LVIII commercial, your chance to win big has just …
Mastering the Variable Expense Ratio for Business Success
This type of company can afford to operate with a higher variable cost ratio. The variable cost ratio is a calculation of the costs of increasing production in comparison to the greater revenues that will result from the increase. An estimate of the variable cost ratio allows a company to aim for the optimal balance …
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Trade Receivables Collection Period: Importance and Management Financial Terms Explained
It has many uses such as allowing a business to evaluate its credit policies, helping in decision-making process, being an indicator of performance of the credit control department of the business, etc. It might also have some limitations when used on its own and must used as a comparison tool to produce useful results. The …
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Nonprofit Fundraising Strategies 2025: Tips, Software, Samples
Charity Navigator has adjusted its rating system over the years to be more fair to nonprofits while continuing to expose excessive spending on overhead, especially executive salaries. Organizations have argued that nonprofits must be able to spend on fundraising and other costs labeled as overhead in order to grow and thrive. Even if you can …
Nonprofit Fundraising Strategies 2025: Tips, Software, SamplesRead More
Conservatism Principle Definition + Concept Examples
The principle of Conservatism is mostly concerned with the reliability of the financial statements of a business entity. The guideline requires that losses be recorded as soon as they are quantified (certain or uncertain), while gains are only recorded when they are assured of being realized. The general concept is to minimize the overstatement of …
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Accounting Conservatism: Definition, Advantages & Disadvantages
When accountants are conservative with respect to recording liabilities and recognizing assets, financial statements can be fair, trustworthy, and appropriate for decision-making. Generally accepted accounting principles (GAAPs) are laid down across accounting areas to ensure an accurate and consistent recording of financial transactions. Among these, one important and basic principle is the conservatism principle (also …
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How to Track Restricted Funds in Quickbooks
IRS Form 990 is a template for the creation of the Statement of Financial Position as well as a separate Statement of Activities, which is similar to an income statement. I’m here to provide additional information about sub-accounts in QuickBooks Online (QBO). QB is very special, because it creates an “Opening Balance Equity” account, which …