Bookkeeping

19Haz

Electronic Filing Definition, Uses, Benefits, Limits

With electronic bookkeeping software, businesses can generate accurate and comprehensive financial reports with just a few clicks. Furthermore, integration with other business systems, such as customer relationship management (CRM) or inventory management software, allows for seamless transfer of relevant data. This integration facilitates better tracking of customer invoices, payments, and overall financial interactions. With electronic bookkeeping software, financial data can be entered and Read more [...] Read more
19Nis

Understanding Credit Memos and How They Relate to Accounting

A credit memo is a document the seller issues to the buyer that reduces the amount of money owed for goods or services already purchased. A credit memo usually has the seller’s name and address, the buyer’s name and address, a description of the item or items being credited, and an explanation of why the credit is being given. The most common reasons involve a buyer returning goods, a price dispute, or as a marketing allowance. The credit memo means that the party who made a purchase from the Read more [...] Read more
15Şub

A Beginner’s Guide To Filling Out A Deposit Slip

how to write a deposit slips are most often used when customers visit a brick-and-mortar bank branch. They can be used to make deposits both in the lobby and in the bank's drive-through lane. In addition, some older ATMs require customers to use a deposit slip when depositing cash or checks. However, a mobile check deposit is considered a safe and secure transaction. Also, you must be logged in to your mobile banking app to use a mobile check deposit feature, and you’ll receive confirmation and Read more [...] Read more
11Eki

FICA and Withholding: Everything You Need to Know

And if you’re self-employed, you’ll need to use the IRS worksheets to ensure you’re paying the correct amounts. If you have more than one job, you may underpay the amount of FICA taxes you owe. If that happens, you’ll have to make separate estimated tax payments (unless you asked for additional withholding on your W-4 form). Employers have to withhold taxes — including FICA taxes — from employee paychecks because taxes are a pay-as-you-go arrangement in the United States. What if an Read more [...] Read more
7Eki

FICA and Withholding: Everything You Need to Know

And if you’re self-employed, you’ll need to use the IRS worksheets to ensure you’re paying the correct amounts. If you have more than one job, you may underpay the amount of FICA taxes you owe. If that happens, you’ll have to make separate estimated tax payments (unless you asked for additional withholding on your W-4 form). Employers have to withhold taxes — including FICA taxes — from employee paychecks because taxes are a pay-as-you-go arrangement in the United States. What if an Read more [...] Read more
5Eki

Corporate Bonds: An Introduction to Credit Risk

Even if the second individual has 100 times the income of the first, their loan represents a greater risk. This is because the lender stands to lose a lot more money in the event of default on a $500,000 loan. This principle underlies the loss given default, or LGD, factor in quantifying risk. Principles for the Management of Credit Risk Indirect stakeholders include customers, suppliers, competitors, investors, and the general public. Institutional risk can be influenced by many factors, Read more [...] Read more
16Ağu

Period Costs Definition, Example, vs Product Costs

These costs should be monitored closely so managers can find ways to reduce the amount paid when possible. Product expenses are part of the cost of producing or acquiring an asset. The Ascent is a Motley Fool service that rates and reviews essential products for your everyday money matters. At Finance Strategists, we partner with financial experts to ensure the accuracy of our financial content. While both cost types are important, we’ll focus on period costs here. Business owners who do their Read more [...] Read more