What Is a Pay Stub? All Your Questions Answered

The employee’s contribution would be a deduction from their paycheck, while the employer’s contribution would be listed as part of the employee’s gross wages. Typically, pay stubs for hourly workers show the number of hours the employee worked. Salaried employees’ pay stubs may also show the number of hours they recorded working if they track their… Continue reading What Is a Pay Stub? All Your Questions Answered

Gross versus Net Revenue

It is interesting to note that the purchase discounts lost represents an expense. Thus at the end of each month, the cost accountants can compare billings to customers against shipping paid. Shipping paid or freight out is NOT part of cost of goods sold, but rather is considered a selling expense. Under gross method, the… Continue reading Gross versus Net Revenue

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What is a trial balance?

Bad debts are the organisation’s debts that are either irrecoverable or uncollectable. In business terms, bad debts are a loss to the company and hence should be limited. It is transferred to the loss side of the P&L account and is also reflected in the Trial Balance sheet as an entry recoverable from its profits.… Continue reading What is a trial balance?

The Difference Between Sales And Profit, And What It Means For Your Business Growth

The next component that a financial manager or a business owner needs to analyze is the change in the fixed assets, long-term liabilities and capital of a business. This analysis helps each of the stakeholders to understand the long-term financial position of a business. Investors can detect overvalued inventory by looking for telling trends like large… Continue reading The Difference Between Sales And Profit, And What It Means For Your Business Growth

Accountants For Freelancers

For self-employed tax compliance from start to finish, we recommend QuickBooks Self-Employed especially strongly. Truelancer is a convenient and affordable platform for businesses to find qualified freelancers for their projects, and for freelancers to find new clients and grow their network. The digital age provides a wealth of resources to help you find clients who… Continue reading Accountants For Freelancers

Church Accounting Jobs What Are They and How to Get One

It is also best for churches that use separate HR and payroll software or that have few employees for whom they must process payroll. QuickBooks offers discounted products for nonprofits through TechSoup, a nonprofit tech marketplace. We recommend that churches and other houses of worship use QuickBooks Online Plus or QuickBooks Advanced so they can… Continue reading Church Accounting Jobs What Are They and How to Get One

Accounting Principles: Basic Definitions, Why Theyre Important

Step 4 – After recording the transaction with the exact date, saving all evidence, and adding a short narration, the process of preparing and recording a journal entry is complete. Step 3 – The highlight of our topic is the application of golden rules. Step 2 – After identifying the type of accounts in step… Continue reading Accounting Principles: Basic Definitions, Why Theyre Important

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