by admin | júl 18, 2023 | Bookkeeping
Under the accrual method, as the work is performed by XYZ, revenue is earned and recognized. In year 1, an entry would be made to recognize the revenue earned for the period by making a debit to deferred revenue of $20,000 and a credit to revenue. The accounting entry...
by admin | febr 14, 2023 | Bookkeeping
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by admin | júl 8, 2021 | Bookkeeping
If you’re dealing with a product that has a shelf life, you should consider changing safety stock levels to days rather than weeks. Establishing reorder points frees up crucial capital and ensures your business is operating at maximum efficiency across inbound and...
by admin | jún 14, 2021 | Bookkeeping
There may be footnotes in audited financial statements regarding past due payments to lenders, but this is not common practice. Lawsuits regarding loans payable are required to be shown on audited financial statements, but this is not necessarily common accounting...
by admin | jún 8, 2021 | Bookkeeping
However, the recipient must trust that the writer of the check will have enough money in his or her bank account to cover the check value. In other words, a post dated check is a check that is validly written but can only be cashed as of the future date that you have...
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