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Definition, Explanation and Examples

by | Jul 21, 2022 | Bookkeeping

A T-account is a visual representation of the general ledger, whereas the general ledger is an accounting record that shows more detailed information than a T-account. Accountants and bookkeepers use the T-account to analyze transactions and spot errors easily without...

Best Accounting Software For Amazon Sellers 2023 Review

by | Jun 29, 2022 | Bookkeeping

By now, you may be asking yourself, “how do I calculate my profit after expenses? Monitoring the total number of orders is a straightforward way of gauging customer demand and market reach. An increasing number of orders typically indicates business growth, but it...

Horizontal Analysis Formula + Calculator

by | May 6, 2022 | Bookkeeping

However, an extra vertical analysis approach is required for management and innovators to make better-informed judgments. As in the prior step, we must calculate the dollar value of the year-over-year (YoY) variance and then divide the difference by the base year...

How Much Income Do The Richest Americans Earn?

by | Aug 2, 2021 | Bookkeeping

To calculate gross annual income enter the gross hourly wage in the first field of this yearly salary calculator. A flexible spending account (FSA) is a tax-advantaged account that is usually offered by employers to their employees so they have the ability to set...

Allowance for Doubtful Accounts: Methods of Accounting for

by | Sep 3, 2020 | Bookkeeping

First, the company debits its AR and credits the allowance for doubtful Accounts. In certain situations, there may be instances where a customer is initially unable to pay, resulting in a bad debt write-off. However, after a few weeks or months, the customer manages...

Free Balance Sheet Templates Multiple Formats

by | Aug 12, 2020 | Bookkeeping

Download one of these free small business balance sheet templates to help ensure that your small business is on track financially. The current ratio is calculated by dividing the total current assets by the total current liabilities. The assets are made up of fixed...