Jan 31, 2024 | Bookkeeping
The table is structured the same as the previous example, however, the cash flows are discounted to account for the time value of money. The discounted payback period of 7.27 years is longer than the 5 years as calculated by the regular payback period because the time... Jan 11, 2024 | Bookkeeping
The software must have bank integrations to automatically feed bank or card transactions. The bank reconciliation module must also let users reconcile accounts with or without bank feeds for optimal ease of use. Lastly, the software must generate useful reports... Nov 22, 2023 | Bookkeeping
The amount by which actual cost differs from standard cost is called a variance. When actual costs are less than the standard cost, a cost variance is favorable. When actual costs exceed the standard costs, a cost variance is unfavorable. Do not automatically equate... Oct 31, 2023 | Bookkeeping
To figure out the meaning of liquid assets, it is important to first understand liquidity. Liquidity is a company’s ability to convert its https://personal-accounting.org/ assets into cash without losing their value. The easier it is to convert an asset into cash, the... Aug 10, 2023 | Bookkeeping
Do not worry DocuClipper is here to help you with managing your finances. As an addition, you get access to lower credit card transaction fees, pre-authorized debit transaction fees, and many other benefits. All of your bookkeeping will... Jul 13, 2023 | Bookkeeping
These journal entries are made after the financial statements have been prepared at the end of the accounting year. A closing entry also transfers the owner’s drawing account (a temporary balance sheet account) balance to the owner’s capital account. The... 