But before you can move forward, it’s important to determine what your loan costs, and whether you can afford it. This being said, here’s what you need to know in order to analyze the affordability of your potential small business loan. To mitigate the risk...
The depletion rate per unit of a natural resource or asset depends upon the total number of units expected to be extracted. This is calculated by dividing the depletion base less salvage value (if any) by the number of units expected to be extracted. Since...
According to a 2017 review, muscle myopathy is common in alcohol use disorder. In addition, about 40 to 60 percent of people who experience chronic alcohol misuse also experience alcohol-related myopathy. This condition can be acute, affecting people for a short period of time...
This way, you can ensure your business is in solid standing and never be caught off-guard. Maintaining accurate financial records makes it easier to organize your taxes when it comes time to file. Regular bank reconciliation saves you from having to review a full year...
If the revenues come from a secondary activity, they are considered to be nonoperating revenues. For example, interest earned by a manufacturer on its investments is a nonoperating revenue. Interest earned by a bank is considered to be part of operating revenues. The book value...
Under LIFO, you’ll leave your old inventory costs on your balance sheet and expense the latest inventory costs in the cost of goods sold (COGS) calculation first. While the LIFO method may lower profits for your business, it can also minimize your taxable income....
It’s added to the price you paid for the goods plus shipping costs, and quickbooks online journal entry you may have to pay it before customs will release the shipment. You can generally claim the cost back when submitting a GST return. The IVL applies...
So, sit back and let Bench handle your finances in a way that’s never been done before. Gnesist is an accounting firm that caters to e-commerce, legal, healthcare, construction, and real estate businesses in Atlanta and its surrounding suburbs. The company offers cloud-based bookkeeping services...
Error of duplication is when an accounting entry is duplicated, meaning it's debited or credited twice for the same entry. For example, an expense that was debited twice for the same amount would be an error of duplication. For example, if you mistakenly added $500...
At the end of the month, the credit card statement arrives and should how to reconcile total manufacturing cost with total cost of goods reflect the same transactions and ending balance as in the general ledger. By comparing these two sets of records, the business...