Accounting Cycle Definition & Examples for Business

One of the major modifications is made according to the type of accounting method a business uses. Companies may follow cash accounting or accrual accounting, or choose between single-entry and double-entry accounting. Even after choosing the right accounting software to automate the accounting cycle’s steps, it’s still essential for business owners and bookkeepers to know […]

Nonprofit Accounting: A Guide to Basics and Best Practices

Funds allow organizations to separate resources into various accounts to identify where those resources came from and how they are used. Since nonprofit organizations receive benefits from being tax-exempt, they must keep detailed records while bookkeeping. Aside from these fundamental differences, there are several other characteristics worth mentioning. For-profits pay taxes based on their net […]

After Tax Operating Income ATOI: What it Means, How it Works

After-tax income refers to the net income after deducting all applicable taxes. Therefore, the after-tax income is simply one’s gross income minus taxes. For individuals and corporations, the after-tax income deducts all taxes, which include federal, provincial, state, and withholding taxes. Deduct either the standard deduction or the total of your itemized deductions from your […]

Accounting Tasks Spreadsheet Free Templates and Checklists

Additionally, accountants have a legal obligation to act honestly and avoid negligence in their practices. As such, they are also responsible for ensuring that their clients’ financial records are compliant with the relevant laws and regulations. Additionally, a certified public accountant (CPA) is an accountant who has passed the CPA exam and has met state […]

Undo Reconciliation in QuickBooks Online: Easy Guide

Join us on a journey through the complexities of manual reconciliation in Excel and the seamless synchronization facilitated by Synder. If you haven’t accounted for this at the start, this can lead to your bank balance reflecting a different amount. This can lead to a number mismatch, leading to unmatched transactions. If you choose to […]

Sample of a Company’s Bank Reconciliation with Amounts

Below is a break down of subject weightings in the FMVA® financial analyst program. As you can see there is a heavy focus on financial modeling, finance, Excel, business valuation, budgeting/forecasting, PowerPoint presentations, accounting and business strategy. You can earn our Bank Reconciliation Certificate of Achievement when you join PRO Plus. To help you master […]

Best Invoicing App For Small Businesses Wave Financial

Can manage multiple businesses for free under one account; lacks project tracking tools, industry-specific reports and transaction tracking tags. Email exported financial statements and reports to your accountant directly from Wave. Or even better, with our Pro Plan, safely hand off your books to your accountant by adding them as a limited user. Since Wave […]

The Landlords Guide to Basic Real Estate Bookkeeping

AppFolio is a better fit for mid to large-sized property landlords with at least 200 units. Both provide a printable, consolidated rental property bookkeeping annual view via the Summary worksheet. Let’s have a look at the second excel file, more compact version with 3 worksheets. To be successful with real estate you need to keep […]

Payroll Outsourcing In 2024: The Ultimate Guide

Outsource some or all HR tasks and opt for a partner that is an extension of your current HR staff. We can handle hiring, engagement, employee issues, payroll, benefits, compensation, talent, compliance and more. Paychex is yet another top name in payroll software, support and outsourcing. They have solutions for solopreneurs all the way up […]

Discounted Payback Period Formula + Calculator

For this reason, the simple payback period may be favorable, while the discounted payback period might indicate an unfavorable investment. Most capital budgeting formulas, such as net present value (NPV), internal rate of return (IRR), and discounted cash flow, consider the TVM. The payback period is the amount of time for a project to break […]