Debit your Notes Payable account and debit your Cash account to show a decrease for paying back the loan. You’ve already made your original entries and are ready to pay the loan back. Double Entry Bookkeeping is here to provide you with free online information to help you learn and understand bookkeeping and introductory accounting. […]

Depending on the HOA’s size and budget, additional categories may be included as well. However, avoid overcomplicating the accounting system, which may lead to discrepancies and confusion. This way, HOAs can have a more comprehensive view of their finances without sacrificing the ability to easily manage their cash flow. Homeowners Associations are responsible for more […]

The two components of the formula of receivables turnover ratio are “net credit sales” and “average trade receivables”. However, in examination problems, the examiners often don’t provide a separate Accounting For Architects breakdown of cash and credit sales. In that case, students should use the total sales number as the numerator, assuming all the sales […]

Since employees are the most crucial part of a company, you must ensure they’re satisfied and happy. Employees have the right to compensation for all work time, whether authorized or not. It can include working from home, having meals, traveling, the importance of hr compliance or working overtime. What challenge does generative AI face with […]

This delicate balance ensures the seed has enough moisture to initiate growth without the risk of rot. Overwatering at this stage can lead to fungal issues and hinder the seed’s ability to germinate. Insert your finger about an inch deep into the soil; if it feels dry at that depth, Bookkeeping for Chiropractors it’s time […]

This service includes calculating, collecting, and remitting sales tax to the relevant authorities. Proper sales and use tax management helps ensure compliance with tax laws and avoids penalties. Managing cash flow is crucial for the survival and growth of your business. This service involves monitoring cash inflows and Restaurant Cash Flow Management outflows, forecasting future […]