However, if you’re traveling for work-related tasks like conferences, meetings, or business visits, you can claim expense charges on your vehicle. To elaborate further, consider you purchased 40 sponges wholesale to sell to customers. You sold 25 sponges and used the remaining 15 for your cleaning company; you owe a…...
How Does QuickBooks Work? Step by Step Exploration of QuickBooks Functionality
QuickBooks can help small businesses manage their sales tax obligations by calculating sales tax, preparing sales tax returns, and generating reports on sales tax liability. It can automatically calculate sales tax for transactions based on the tax rates and rules for the customer’s location. This can help ensure that the…...
Subsequent accounting for goodwill: impairment 1; amortization 0!
This balance represents the total amount of the intangible asset that has been expensed. Eventually, the intangible asset will have zero remaining cost, meaning it’s fully amortized. When amortization is charged, it is shown on the debit side of the income statement as an expense. The fair value method of…...
Accounting in Singapore By country Resources
This is because of the diverse student base, a curriculum structure that has a strong international outlook, and educational infrastructure that provides deep cross-border knowledge. While there are many accounting software options, we prefer a solution that supports businesses of all shapes and sizes, which is why we are proud…...
How to Do Accounting for Small Business: Basics of Accounting
Small business accounting is the process of tracking, recording, and analyzing your company’s financial transactions. Accounting is important for small businesses because it helps provide insight into a company’s finances and forecasting with accurate data. You can use this information to make decisions about pricing, inventory, expenses, investments, and growth…...