The 7 Best Sites to Find a Part-Time Job in 2023

Now, let’s get on to the six steps you need to take to become a part-time bookkeeper. These are the basic guidelines you can follow as you carve your own path towards your career goal of working remotely. Accountants also hire their own in-house bookkeepers, and they usually pay $30 to $50 per hour. Explore […]

Accounting Guide for Photographers: Photography Accounting 101

Whether your photography is a small side hustle, or you’ve gone full-time and it’s your primary focus, it’s a good idea to begin treating it as a legitimate business. That can include the exciting parts, like advertising and showcasing your beautiful pictures for prospective clients to see. Or it might mean seeking out a space […]

Optimizing & Calculating Ending Inventory

By doing this, you can effectively locate and manage your raw materials inventory. In ecommerce inventory management, ending inventory (or closing inventory) holds significant importance. It refers to the value of goods that remain in stock at the end of an accounting period. Calculating ending inventory accurately is crucial for determining the cost of goods […]

Answered: Proper adjusting entry based on prepaid

A company’s property insurance, liability insurance, business interruption insurance, etc. often covers a one-year period with the cost (insurance premiums) paid in advance. The one-year period for the insurance rarely coincides with the company’s accounting year. Therefore, the insurance payments will likely involve more than one annual financial statement and many interim financial statements. If […]

How to account for your business research and development

This equipment should be capitalized as an asset and depreciated over its useful life. While being used for research purposes, research and development expense should be debited. Once it is put into general service, depreciation expense should be debited. A classic example of the second channel is the Apple’s iPhone, a revolutionary handheld electronic device […]

Subsequent accounting for goodwill: impairment 1; amortization 0!

Under the generally accepted accounting principles (GAAP) and the International Financial Reporting Standards (IFRS), companies are required to evaluate the value of goodwill on their financial statements at least once a year and record any impairments. If Nortel or any other company buys another company, the amount that they pay for goodwill affects the company […]

Income Statement Analysis: How to Read an Income Statement

Investing activities include any sources and uses of cash from a company’s investments in the long-term future of the company. A purchase or sale of an asset, loans made to vendors or received from customers, or any payments related to a merger or acquisition is included in this category. Here is an example of how […]

Accounting for Photographers Made Easy

It also integrates well with Google Calendar, Mailchimp, and Quickbooks, so it may be a good option if you plan to go for a paid accounting software down the road. It’s also accessible via your desktop, online, and your smartphone, making it easy to track your business activity on the go. LessAccounting is the best […]

How Do the Income Statement and Balance Sheet Differ?

In the end, the main purpose of all profit and loss statements is to communicate the profitability and business activities of the company with end users. Financial analysis of an income statement can reveal that the costs of goods sold are falling, or that sales have been improving, while return on equity is rising. Income […]

What does a bookkeeper do? Guide to Bookkeeping Basics

There are a host of programs available in the field of business administration and accounting. Some employers may require you to have only a high school diploma for an entry-level bookkeeping position. However, most employers expect you to have additional education and some type of work experience. If your state imposes an income tax, you’ll […]