par admin | 19 10 23 | Bookkeeping
Current liability comprises debts that require repayment within one year, while long-term liabilities are liabilities whose repayment is due beyond one year. Unlike creditors, shareholders can’t demand payment during a difficult time. A firm can thus dedicate...
par admin | 21 09 23 | Bookkeeping
Interest is the cost of using borrowed money, or more specifically, the amount a lender receives for advancing money to a borrower. When paying interest, the borrower will mostly pay a percentage of the principal (the borrowed amount). The concept of interest can be...
par admin | 18 09 23 | Bookkeeping
Having employees fill out time cards manually isn’t reliable and could cost you money from time theft. You can increase efficiency and speed up the payroll process by using the right tools to track your employees’ time. While growing your team as a business owner can...
par admin | 15 09 23 | Bookkeeping
And it’s included at no extra cost in your WPMU DEV membership, along with our 5-star, expert support. While this could create a cluttered mess of paperwork and file folders, it’s carefully and neatly organized in The Hub’s valuation of work-in-progress. Click the...
par admin | 14 08 23 | Bookkeeping
You can quickly know how your entire team is spending their time and get a daily, weekly, and monthly breakdown of the work hours, too. Xero puts “repeating bill” in the “purchases” menu under “accounts.” You can also do it from the “bill options” drop-down on a bill....
par admin | 7 06 23 | Bookkeeping
Any net income not paid to shareholders at the end of a reporting period becomes retained earnings. Retained earnings are then carried over to the balance sheet, reported under shareholder’s equity. Unearned revenue accounts for money prepaid by a customer for goods...