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  • How To Set Up and Manage a Petty Cash Account

    You also need to properly categorize them and make certain they are deductible. Tax preparation software or a tax preparation firm can help you do this more efficiently and with fewer errors. The balance in the petty cash account is now $300, which is where it was originally authorized to be. If you’re a small […] More

  • What Is Bad Debt? Write Offs and Methods for Estimating

    They could create a fictitious customer in the subsidiary ledger and then post the credit to the fictitious customer’s account, but it’s not common practice to do that. Instead, we create a separate GL account called Allowance for Doubtful Accounts. It’s a companion account to Accounts Receivable, and since it has a credit balance, it […] More

  • How Do You Do Journal Entries in Accounting: Step-by-step

    These three financial statements provide information for making short and long term financial decisions. A double-entry accounting system provides the most detailed accounting of farm business transactions. A significant amount of time is usually needed to learn and implement such a system. The simpler cash accounting system, with inventory adjustments, will suffice for most farm […] More

  • Трендовая стратегия Форекс торгуем по сигналам тренда

    Для большинства новых трейдеров лучше всего торговать именно на откатах, а не искать возможности конттрендовых сделок. Тяжелее всего в торговле по тренду запастись достаточным терпением. Потому что цена часто будет делать откаты против вашей позиции, и вам нужно будет не поддаться страху потерять прибыль и не закрыть свою сделку. Этот способ подходит для графиков […] More

  • The Ultimate Guide to Filling Out a W-4 Form for 2023

    If you are in a good enough financial situation, this may not seem like a big deal. But for some taxpayers, they’d like to maximize their paycheck amount while making sure their tax liability is covered for the year. Not claiming dependents is an easy way to make sure more money is withheld upfront. Therefore, […] More

  • How To Start A Bookkeeping Business

    For example, if the bookkeeper makes an error while working on the client’s books, the contract can help to limit their liability. Networking has always been a cornerstone in this industry, and joining local business organizations like the Chamber of Commerce can open many doors for you. If you plan to specialize, joining related industry […] More

  • What Are Accruals? How Accrual Accounting Works, With Examples

    Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics recourse loans vs non and behavioral finance. Adam received his master’s in economics from The New School for Social Research and his Ph.D. from the […] More

  • Understanding Bad Debt Definition & Example

    The portion that a company believes is uncollectible is what is called “bad debt expense.” The two methods of recording bad debt are 1) direct write-off method and 2) allowance method. This expense is called bad debt expenses, and they are generally classified as sales and general administrative expense. Though part of an entry for […] More