Mortgages that may be non-collectible can be written off as bad debt as well. As stated above, they can only be written off against tax capital, or income, but they are limited to a deduction of $3,000 per year. Any loss above that can be carried over to the following years at the same amount. …
Bad Debt Overview, Example, Bad Debt Expense & Journal Entries Lire la suite »
To overcome these challenges, businesses should seek professional guidance and establish robust internal controls to ensure accurate and compliant deferred rent accounting. By following these steps, businesses can accurately calculate and record deferred rent, ensuring compliance with accounting standards and clearly representing their financial position. In this scenario, the lessee has a real estate lease …
Deferred Rent: Meaning, Accounting, Journal Entry, Example, Calculation Lire la suite »
Currently, generally accepted accounting principles require use of the effective interest method of amortization unless the results under the two methods are not significantly different. If the amounts of interest expense are similar under the two methods, the straight‐line method may be used. Bonds represent an obligation to repay a principal amount at a future …
What is the stated interest rate of a bond payable? Lire la suite »
Inventory valuation is determined by attaching a specific value to the products that remain in inventory at the end of the accounting period. Inventory has a value – even before you do anything with it – and so it’s listed as an asset on your business balance sheet. But it can lose its value fast …
What Is Inventory? Definition, Types, & Examples Lire la suite »
Since all the billing is done in Arborgold, the data can be exported automatically to your invoice. By streamlining and automating accounting, it reduces the time you spend on these tasks. If you leverage the power of landscape accounting software to its maximum potential, it’s like having your own online accounting team. We understand the disappointment …
Our team diligently identifies deductions and opportunities, ensuring you keep more of your hard-earned money in your pocket. Most landscape accounting software solutions offer mobile access, allowing you to manage your business operations from anywhere at any time, thereby increasing productivity and flexibility. Zoho Books is a comprehensive accounting software designed for small businesses. It …
Accounting & Bookkeeping for Landscaping Business & Lawncare Business Lire la suite »