Category: Bookkeeping

Recordkeeping Internal Revenue Service

Firms also have intangible assets such as customer goodwill that may be listed on the balance sheet. If you use cash accounting, you record your transaction when cash changes hands. Accounting software eliminates a good deal of manual data entry, making it entirely possible to do your own bookkeeping. However, it can be difficult to…
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Attention Required! Cloudflare

The Net Present Value (NPV) of your business is a calculation that helps you analyze potential projects or investments that might be worth your while. The NPV calculation is a snapshot of a period of time that illustrates how much money you’ve had come in versus how much you’ve paid out. With this type of…
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Payroll Journal Entry Example Explanation

A payroll tax holiday is a deferral of payroll tax collection until a later date, at which point those taxes would become due. A payroll tax deferral is intended to provide some temporary financial relief to workers by temporarily boosting their take-home pay. Once you have taken out pre-tax deductions, the remaining pay is taxed.…
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