Bookkeeping

This equality is a fundamental principle of the double-entry accounting system, which maintains that every financial transaction affects at least two ledger bookkeeping accounts, keeping the accounting equation in equilibrium. Common types of account totals for income statement accounts are credits for sales and other types of revenue and debits for cost of sales and […]

This free roofing estimate template for Word is ideal for both small and large roofing contractors. A request for proposal (RFP) allows a project owner to invite qualified contractors to submit their proposals or bids for building a project. Our RFQ template is essentially a “fill in the blank” form where the project owner asks

Interest is automatically deposited into a bank account after a certain period of time. So the company’s accountant prepares an entry increasing the cash currently shown in the financial records. After adjustments are made, the book balance should equal the ending balance of the bank account. If your bank account, credit card statements, and your

Since QuickBooks automates the year-end close, you don’t have to get caught up with all of these manual entries unless something was to go wrong. Even then you can get a bit of help or an accountant to sort you out. At Finance Strategists, we partner with financial experts to ensure the accuracy of our

With that in mind, we turn our eyes to the top 3 revenue recognition methods in construction accounting. These 3 methods sound pretty self-explanatory, and contractors use them to determine when expenses and income “count” — so to speak. Sometimes, they use one method for their bookkeeping and another for tax reporting. All this is

The prevailing view of what constitutes a „good” ratio has been changing in recent years, as more companies have looked to the future rather than just the current moment. Some lenders and investors have been looking for a 2-3 ratio, while others have said 1 to 1 is good enough. It all depends on what