Bookkeeping

Declared and Paid Dividends Journal Entry

Understanding these variations is essential for accurate financial reporting and strategic decision-making. Companies use stock dividends to convert their retained earnings to contributed capital. They are ‘dividends’ in the sense that they represent distribution to shareholders. Companies issue stock dividends when they want to bring down the market price of their common stock. The debit …

Declared and Paid Dividends Journal Entry Read More »

Best Construction Accounting Company in Sarasota, FL Top Auditors at Miller & Company

It’s extremely helpful to avoid waiting for business hours to speak to a representative when the due date is approaching quickly. CSI Accounting & Payroll offers a small portfolio of specialized services that we believe are critical to the success of construction operations. You’ll have payroll that is tailored for your business and allows you …

Best Construction Accounting Company in Sarasota, FL Top Auditors at Miller & Company Read More »

What is a capital lease versus an operating lease under ASC 842?

The new rules require that all leases of more than 12 months must be shown on the business balance sheet as both assets and liabilities. That’s why operating leases of less than a year are treated as expenses, while longer-term leases are treated like buying an asset. Leasing vehicles and equipment for business use is …

What is a capital lease versus an operating lease under ASC 842? Read More »

What Is Bookkeeping? Everything You Need To Know

Your general ledger should be up to date so that your bookkeeping software is able to provide functionality that you can navigate easily. QuickBooks is an excellent option for novice and seasoned digital bookkeepers alike. Those baby steps can help you manage your organization on a new and improved system. Bookkeeping vs. Accounting: What Are …

What Is Bookkeeping? Everything You Need To Know Read More »

Total Cost of Manufacturing Raw Cost, Direct Labor, Overhead

Production costs are all the expenses related to a manufacturer conducting its business. Manufacturing costs, as we’ve already discussed, are the expenses that are needed to produce the product. In short, tracking total manufacturing cost can reveal how well a business is operating. If the figure increases between manufacturing accounting periods, it can indicate that …

Total Cost of Manufacturing Raw Cost, Direct Labor, Overhead Read More »

Nonprofit Bookkeeping: Ultimate Guide + Best Practices

But here is a list of tasks that some nonprofits push onto their bookkeepers that are instead the role of an accountant. And it’s one of the essential roles of bookkeeping in a nonprofit organization. Sure, you’ll find overlap between the two roles In many small organizations. But the experience, responsibilities, and deliverables required of …

Nonprofit Bookkeeping: Ultimate Guide + Best Practices Read More »

Chart Of Accounts: Definition, Types And How it Works

You might also notice that there are specificities of the business that might affect the COA structure. Expenses are the means a company spends to generate revenue and operate its business. They can be the money spent on resources and activities necessary to keep the business running smoothly. So, a company can use account coding …

Chart Of Accounts: Definition, Types And How it Works Read More »

Best Cloud Accounting Software for Small Businesses in 2024

When using cloud accounting software, there are no working hour limitations as it allows you to access our financial data at any time and make any changes in your operations through whichever mobile device you have at hand. Whereas only one person has user access in the traditional accounting software model, the cloud accounting software …

Best Cloud Accounting Software for Small Businesses in 2024 Read More »