Moreover, a company’s expenses are not recognized until an actual cash payment is made (i.e., a real cash outflow). If you sell $5,000 worth of…
View More Accrual Accounting vs Cash Basis Accounting: What’s the Difference?Revenue definition
While revenue is a gross amount focused just on the collection of proceeds, income or profit incorporate other aspects of a business that reports the…
View More Revenue definitionHow to Read & Understand a Cash Flow Statement
Essentially, the accountant will convert net income to actual cash flow by de-accruing it through a process of identifying any non-cash expenses for the period…
View More How to Read & Understand a Cash Flow StatementHow a Single-Member LLC Pays Employment Taxes for Employees
One will be issued to the member, and one will be issued to the SMLLC itself. That can lead to errors that require IRS intervention…
View More How a Single-Member LLC Pays Employment Taxes for EmployeesA Price Formula for Your Product Direct and Retail
Content Example accounts Input tax effect on subsistence, staff entertainment and domestic accommodation expenses International Expansion Time of supply (tax point) rules Ask ICAEW Technical…
View More A Price Formula for Your Product Direct and RetailWhat Is Bookkeeping? Duties, Pay, and How to Become a Bookkeeper
Like all of our payroll options, our small business payroll software integrates with other Paychex services through Paychex Flex to help you take your organization…
View More What Is Bookkeeping? Duties, Pay, and How to Become a Bookkeeper