During the American colonial period, factors played a crucial role in the textile industry, advancing funds to manufacturers based on the value of goods shipped to the New World. Just as with any lender, you should check out factoring companies that you might want to work with carefully to make sure they’re trustworthy. If the …
Accounting for Factored Receivables 2024 The Essential Guide Read More »
This equation holds true for all business activities and transactions. If assets increase, either liabilities or owner’s equity must increase to balance out the equation. These elements are basically capital and retained earnings; however, the expanded accounting equation is usually broken down further by replacing the retained earnings part with its elements. The shareholders’ equity …
The salary you receive is based on a 40-hour workweek, although (if you are on salary) your wages are not determined by the number of hours you work. If you earn wages, you are paid for the actual number of hours you work. Your total pay can vary depending on the number of hours worked …
Clients see, every day, the high standards, experience and deep knowledge resident in the firm. Our partners and managers are committed specialists; they have made meeting the needs of nonprofit organizations the heart of their careers. VMG’s Nonprofit Management Training accounting services for nonprofit organizations program offers an in-depth look at the inner workings of …
Nonprofit Accounting Services to Build Stronger Nonprofits Read More »
When recording cash collections from customers it is quite common for the cash receipt journal to include a discounts allowed column. By using a discounts allowed column, the business can use the receipts journal to record the invoiced amount, the discount allowed, and the cash receipt. In this situation the line item postings to the …
There’s nothing creative about time tracking, invoicing and managing business expenses. But when you’re a working artist, accounting chores are part of the job. FreshBooks artist management software for accounting helps you get your numbers right so you can spend less time on paperwork and more time creating. How do small businesses use accounting? The …
