• sylas
• 3 de junho de 2025
• Bookkeeping
• 0 Comments

Current liabilities are bills or debts due within a year, like accounts payable and payroll. Equity is what’s left after subtracting liabilities from assets—the net value of your business. The working capital turnover ratio is calculated by dividing sales revenue by working capital (that is, current assets minus current liabilities). While sales revenues cannot be negative, if the working capital …

• sylas
• 21 de março de 2024
• Bookkeeping
• 0 Comments

Remember that a company must present an income statement, balance sheet, statement of retained earnings, and statement of statement of stockholders equity cash flows. However, it is also necessary to present additional information about changes in other equity accounts. This may be done by notes to the financial statements or other separate schedules. How to Prepare a Statement of Stockholders’ …

• sylas
• 19 de março de 2024
• Bookkeeping
• 0 Comments

It prevents the other business owner who is on the client-side of the table from cashing old and new checks, thereby maintaining transparency in the business. At a certain point, stale checks can reach the time period set by the state (the one where the issuing bank is) and are then handled under escheatment laws. Typically, banks print the words …

• sylas
• 10 de junho de 2022
• Bookkeeping
• 0 Comments

Examples include insurance premiums and rent that may be paid for a twelve-month period at the beginning of the year. All costs relating to the rent, utilities, security, insurance and maintenance of program and office space. Money owed to an organization more than a year in the future that have been committed to the organization as a grant, donation or …

• sylas
• 26 de abril de 2022
• Bookkeeping
• 0 Comments

The statement of activities categorizes the revenue and expenses, allowing the nonprofit accountant to analyze that data more effectively and review the organization’s net assets. Nonprofit organizations must prepare four core financial statements annually–the statement of financial position, statement of activities, statement of cash flow, and statement of functional expenses. Fund accounting helps account for restricted donations and contributions with …

• sylas
• 15 de março de 2021
• Bookkeeping
• 0 Comments

Fund accounting, commonly used by nonprofits, separates resources into different “funds” based on restrictions and purposes. This differs from regular accounting, which tracks your expenses and income. It helps ensure donor restrictions are honored and funds are used as intended. This initial step sets the foundation for all future tracking and reporting. Financial Statements Nonprofit accounting is a specialized method …

• sylas
• 18 de agosto de 2020
• Bookkeeping
• 0 Comments

In addition, AccountEdge offers a free account for your accountant so they always have real-time access to your reports. Once I filled in the form using drop-down selections or by manually entering text into the field, I simply had to click “approve and email” to send it. Along the top of the interface is a menu with options such as …