Bookkeeping

Stock dividends are issued proportionally to all shareholders, so individual ownership percentages remain unchanged. While the stock, paid-in capital, and retained earnings numbers change, the total equity remains the same. The board declares a 10% stock dividend (5,000 new shares). The board has announced a stock dividend of 5%, equivalent to 2,500 shares, with a […]

TurboTax is the easiest business tax software to use for LLCs, sole proprietorships, and partnerships. For C corps or S corps, we recommend Pilot because it gives owners access to a trained tax professional who will help ensure business taxes get filed quickly and accurately. While the cheapest software may not always be the best

Xero has a great upgrade path, with well balanced plans that provide good value for money, no matter where you accounting for startups might be on your business journey. Xero can stay with you from a simple startup to processing millions of pounds, so you won’t have to worry about the hassle of switching to

Under the accrual basis of accounting, revenues are recorded at the time of delivering the service or the merchandise, even if cash is not received at the time of delivery. The systematic allocation of the cost of an asset from the balance sheet to Depreciation Expense on the income statement over the useful life of

For example, if a company shows a high amount of accrued revenue, the cash flow statement will reflect adjustments to reconcile net income with actual cash received. Auditors scrutinize the accuracy of accrued revenue recognition, as it can significantly impact a company’s reported income. If the milestone is worth $100,000, the company would record this

Proposals outline the hotel’s offerings, pricing, and other details to win the business and secure a contract. A Point of Sale (POS) system manages transactions at hotel outlets like restaurants, bars, and shops. PMS systems typically include features such as reservations management, guest check-in/check-out, room inventory management, billing, and reporting. A Property Management System (PMS)

An owner evaluates his business and its costs and finds that his cost is too high to make a margin at prices the customers will bear. Many businesses develop their prices based on their estimate of their cost for a unit. They’re recognized on the income statement during the time they’re incurred and are not included