Bookkeeping

Thus, the net book value is $30,000 at the end of the first year. With this method, each year's depreciation expense is simply the miles driven multiplied by the depreciation rate. Exact mileage must be provided each year to calculate the correct expense. The “declining-balance” bank reporting guidelines for cash deposits refers to the asset’s […]

By analyzing the income statement, the analyst observes that operating expenses, particularly in R&D and administrative costs, have risen sharply. This increase in expenses suggests potential inefficiencies in operations or a shift in strategy that may impact profitability. The analyst uses operating margin (EBIT ÷ Revenue) as a key metric to evaluate the impact of

Before moving to the different inputs of a startup’s financial model, it is important to realize financial modeling is not a goal in itself. And that end is typically to get more insights in the financial side of building a business, whether those insights are meant for yourself or for a potential investor. Therefore instead

If they don’t sync up, you need to figure out why. It’s most likely because you mistyped some information into your business accounts, entered it at the wrong time, or missed a transaction altogether. Bank reconciliation gets much trickier if you use the same account for business and personal transactions. Get to the bottom of

These businesses will collect GST from that sale on behalf of the ATO. If the purchase was a business purchase, you will then use the product or service to create a product or enact a service for a consumer. Only a handful of countries, such as Canada and Brazil, have a dual GST structure. In

CapStonePlanet Team had high caliber individuals support our implementation project and day-to-day operations. Experts in the Financial Services industry and arena to drive process improvements. I always feel highly supported by the team leads and I really appreciate their attentiveness and team quickly understood how our platform worked and now delivers great customer service all

It doesn’t need to calculate the difference between the recorded expense/accounts payable and the cash payment. And it also doesn’t need to determine whether the recorded expense/accounts payable is bigger or smaller than the cash payment to decide if they need to debit or credit the utilities expense account. Alternatively, the company can choose to

These businesses will collect GST from that sale on behalf of the ATO. If the purchase was a business purchase, you will then use the product or service to create a product or enact a service for a consumer. Only a handful of countries, such as Canada and Brazil, have a dual GST structure. In

A lorry costs $4,000 and will have a scrap value of $500 after continuous use of 10 years. This estimate will be then used to calculate the applicable percentage for the depreciation cost for each year. Depreciation refers to a decrease in the value of an asset due to usage, wear and tear, or obsolescence

They analyze your books, help you understand what’s working and what needs to change, and they offer the expertise needed to help you move into the next phase of your business. Software and technology skills also differ between accountants and bookkeepers. They are often directly accountable for the accuracy and integrity of financial statements, making