by Majestic | Aug 10, 2023 | Bookkeeping
Encumbrance accounting involves recording encumbrances in the general ledger when the organization is certain about the time and amount of the anticipated expense. This is done before creating and collecting the underlying documents, such as purchase requisitions and...
by Majestic | May 17, 2023 | Bookkeeping
Primary expenses are incurred during the process of earning revenue from the primary activity of the business. Expenses include the cost of goods sold (COGS), selling, general and administrative expenses (SG&A), depreciation or amortization,...
by Majestic | May 17, 2023 | Bookkeeping
Primary expenses are incurred during the process of earning revenue from the primary activity of the business. Expenses include the cost of goods sold (COGS), selling, general and administrative expenses (SG&A), depreciation or amortization,...
by Majestic | Feb 6, 2023 | Bookkeeping
As a result, from an investor’s perspective, debt is the least risky investment. For businesses, it is the cheapest source of financing because interest payments are tax-deductible, and debt generally provides a lower return to investors. A statement of retained...
by Majestic | Nov 18, 2022 | Bookkeeping
While recordkeeping is concerned with acquiring and preserving data, most accounting is concerned with using that data to make concrete decisions or provide advice. Accounting is the practice of keeping track of a company’s financial transactions. If you already...
by Majestic | Oct 11, 2022 | Bookkeeping
It took me less than 15 minutes to learn how to use it and now I don’t sweat trust accounting. I highly recommend Trustbooks to any lawyer who is responsible for overseeing a trust account. I had to have the knowledge and force QuickBooks to do what I believed my...