Understanding Accumulated Depreciation: Definition, Calculation, and Examples 19 januari 2022 – Posted in: Bookkeeping

Book value is the asset’s current value on the balance sheet after deducting accumulated depreciation from the original purchase cost. Analysts track the ratio of accumulated depreciation to the asset’s original cost. A high ratio indicates aging equipment and potential future cash outlays, while a low ratio suggests recent investment. Depreciation expense is the periodic charge that appears on the income statement, while accumulated depreciation is the running total on the company’s balance sheet. Units…

Difference Between Journal and Ledger: Know the key differences 7 december 2021 – Posted in: Bookkeeping

It is essentially a set of all real, personal and nominal accounts where transactions affecting them are recorded. The article provides an overview of the general journal and general ledger, highlighting their roles in recording and organizing business transactions. It also explains the processes of journalizing and posting, emphasizing how financial data is transferred and structured for accurate accounting. The Journal is called the ‘Book of Original Entry’ because it is the very first book…

Software for Accountants 3 september 2021 – Posted in: Bookkeeping

Watch our global certification video to get a head start or join QuickBooks free events and webinars to accrue more continued professional development hours and increase your skills. Learn the ins and outs of QuickBooks with free https://www.bookstime.com/ training and certification. File T1s, T2s, and T3s for all your clients from within QuickBooks Online Accountant. Clients in the system are part of the secure message center where you can send direct messages and requests for…

Accounting for Cash Surrender Value in Corporate Finance 14 juli 2021 – Posted in: Bookkeeping

The cash surrender value of the life insurance policy is an asset that is recorded on the balance sheet (“B/S”) of the company. The amount recorded varies from year to year as the cash surrender value of the policy increases or decreases. You should receive a Form 1099-R showing the total proceeds and the taxable part. Impact on Beneficiaries Public companies must report their financial statements using International Financial Reporting Standards (IFRS). Like copyright and…

ACH Returns & Reversals What Happens When an ACH Payment is Returned 14 december 2020 – Posted in: Bookkeeping

In addition, an Originator’s “total volume” would be a defined factor in the new inquiry process that can be considered prior to determining whether to require an ODFI to reduce the Originator’s return rate. Through these mechanisms, Nacha thinks that low-volume Originators currently are, and would continue to be, largely excluded from being encompassed within these processes except for the most egregious cases. She’s been creating and promoting content for over 6 years, covering a range…

Number 419 Meaning & Significance Angel, Spiritual, Numerology 1 september 2020 – Posted in: Bookkeeping

This number is a sign of hope and reassurance that all the hard work you’ve been putting in will eventually pay off. You should be confident and believe that your efforts will bring you success and abundance. In numerology, the number 419 is seen as a sign of success, strength, and ambition. It is thought to give the person who has it the power to manifest their goals and dreams. It also gives the person…