Category: Bookkeeping

Benjamin Podraza holds a Bachelor of Science in accounting and a Master of Science in taxation from Arizona State University. He is a financial consultant that has provided advice to thousands of individuals and business owners for…

Furthermore, sales revenue can be categorized into gross and net sales revenue. Fixed costs are the costs that do not change with the change in the level of output. In other words, fixed costs are not dependent…

Looking at the extensive list above, it’s clear that a large portion of the United States doesn’t tax Social Security benefits. This is a major financial advantage for retirees, allowing them to stretch their income further. A…

For example, while performing an account reconciliation for a cash account, it may be noted that the general ledger balance is $500,000. Still, the supporting documentation (i.e., a bank statement) says the bank account has a balance…

However, without legislation to reinstate immediate deductibility, the requirement to capitalize and amortize R&D expenses is the law. ‘Research and development’ are the activities a business undertakes to create new products, processes or services, or to improve…

However, businesses need to keep records of all transactions for state sales tax purposes and financial reporting. This business transaction record is also known as proof of purchase. The customer can use it to showcase the amount…

Although there are chances for errors, they are avoidable. For example, the price per unit of a dining chair is $50. You’ve sold 4 chairs, making the total cost $200. Tips for Filling Out a Receipt Template…

In this blog post, we will explore the importance of invoice numbers and how they can be used to help your business stay organized and efficient. We will also discuss the different factors to consider when choosing…

See how different annuity choices can translate into stable, long-term income for your retirement years. The term “annuity due” means receiving the payment at the beginning of each period (e.g. monthly rent). Many accounting applications related to…

You cross reference the rows and columns to find your annuity’s present value. For example, a court settlement might entitle the recipient to $2,000 per month for 30 years, but the receiving party may be uncomfortable getting…