Bookkeeping

Two organizations may need an NDA to deliver a project together. For instance, a nonprofit may partner with a tech company to produce a government-funded app. They would sign an NDA to share data and insights with each other throughout the project. Because NDAs also remove ambiguity around the information covered by the agreement, they […]

Sales revenue is an account name normally used when a retailer sells an item. Fees earned is an account name commonly used to record income generated from providing a service. In a service business, customers buy expertise, advice, action, or an experience but do not purchase a physical product. Consultants, dry cleaners, airlines, attorneys, and

Fair value is the estimated price at which an asset is bought or sold when both the buyer and seller freely agree on a price. Individuals and businesses may compare current market value, growth potential, and replacement cost to determine the fair value of an asset. Fair value calculations help investors make financial choices and

The reverse approach to inventory valuation is the LIFO method, where the items most recently added to inventory are assumed to have been used first. This means that the ending inventory balance tends to be lower, while the cost of goods sold is increased, resulting in lower taxable profits. The LIFO method assumes that the

The reverse approach to inventory valuation is the LIFO method, where the items most recently added to inventory are assumed to have been used first. This means that the ending inventory balance tends to be lower, while the cost of goods sold is increased, resulting in lower taxable profits. The LIFO method assumes that the

The equipment will serve as the collateral for financing, and the loan term should coincide with how long you expect to use the equipment. Term loans are some of the most common types of business financing. It’s ideal for business owners that have good credit and are looking to expand their company. Another way to

If an ITIN is not used on a federal tax return at least once in the last three consecutive years, it will expire. Additionally, ITINs that have the middle digits of 78 or 79 will expire at the end of 2021. It’s important to renew the ITIN in a timely manner to avoid any delays

In our evaluation, we considered essential features in A/P, A/R, banking, inventories, and other minor accounting features. We also took into account the difficulty nonaccountants would have using these features. Learn more about our church reporting tools, budgeting features, and accounting solutions. Church financial software can sound about as far away from loving people like

Some associations that collect on a quarterly basis may require more coverage. In addition, some associations have documents outlining the type and amount of coverage required. The FHA and FNMA (Fannie Mae) both require fidelity bonds covering at least three months of the association’s assessments. Your HOA management company or your association’s attorney can assist

This free salary paycheck calculator can help you determine how much to send your employees home with at the end of the day—and how much to remit to the IRS each quarter. The IRS recommends that taxpayers access the online W-4 Calculator to check their payroll withholding and adjust withholding allowances, if needed, as early