Category: Bookkeeping

It’s designed for small businesses and startups, and its user interface is easy to use. The built-in collaboration feature helps you work with your staff and reduce manual entry errors. Plumbing accounting software can simplify tax preparation, ensuring you fulfill all state and government regulations to avoid legal tussles with the relevant authorities. With automated… Continue reading 5+ Best Accounting Software for Plumbers and Plumbing Businesses

Accordingly, they are charged as expenses in the income statement of the accounting period in which the salaries are paid. Sometimes, expenditures are incurred either in advance or subsequent to the accounting period even though they relate to expenses for goods or services sold during the current accounting period. In other words, the earnings or… Continue reading Matching Principle Definition + Concept Examples

For a short tax year not beginning on the first day of a month and not ending on the last day of a month, the tax year consists of the number of days in the tax year. You determine the midpoint of the tax year by dividing the number of days in the tax year… Continue reading What Is Depreciation and How Do You Calculate It?