The alternate ACRS method used a recovery percentage based on a modified straight line method. The law prescribes fixed percentages to be used for each class of property. Regardless of the method used, the first step to calculating depreciation is subtracting an asset’s salvage value from its initial cost. Salvage value is the amount for […]
Hangover shakes can last anywhere from a couple of hours to a few days. For people whose bodies struggle to process alcohol, they can even last up to a week. A little bit of shaking after drinking can feel unpleasant, but it usually isn’t anything to worry about it. Try to take it easy for […]
Notable features NetSuite’s accounting software offers include automations, domestic and global tax management tools, a comprehensive payment management solution and NetSuite product integrations. Xero earns a 4.4-star rating on Capterra and a 4.3-star rating on G2. They appreciate that the software’s automations create business efficiencies. Overall, they have mixed feelings about its affordability for small […]
Traditional costing is more simplistic and less accurate than ABC, and typically assigns overhead costs to products based on an arbitrary average rate. This method first assigns indirect costs to activities and then assigns the costs to products based on the products’ usage of the activities. These levels include batch-level activity, unit-level activity, customer-level activity, organization-sustaining activity, […]
And, like QuickBooks Online, FreshBooks includes built-in mileage tracking—a must for freelancers who plan to claim mileage expenses on their year-end tax forms. Intuit has an option called QuickBooks Live that adds bookkeeping support to Intuit QuickBooks Online. You communicate with a dedicated bookkeeper through one-way video chat (they can’t see you) or email. What […]
It uses a cash basis accounting and construction contractors should consult with a tax advisor to get the best tax strategy for their business. Deltek ComputerEase, formerly Construction Accounting by Computer Ease, is a software solution that tells you where each job stands in various ways. It can tell you what construction bookkeeping the real […]
The two types of accelerated depreciation are Section 179 expenses and bonus depreciation. Let’s say a business decides to take on a mortgage loan on a building instead of leasing the space because mortgage interest is tax deductible, thus serving as a tax shield. As a result, the gross income for the business would be […]
In this digital age, where data is king and efficiency is paramount, streamlining your reporting process record to report process can mean the difference between success and stagnation. In this article, we’ll dive deep into the world of Oracle R2R, exploring how it works, its benefits, and why it’s a game-changer for modern businesses. Continuous […]
While not exclusively an accounting tool, Indy offers a robust suite of financial management features alongside other essential business functions. Analyzing large datasets in real-time can provide stakeholders with vital insights for making informed decisions. For example, Deloitte, a global professional services firm, used a special method to optically extract data from thousands of commercial […]
Although Intuit has talked about adding sales orders to QuickBooks Online, this feature is only available with QuickBooks Desktop products at this time. While QuickBooks Online boasts many of the features you’ll find with Desktop, where do i mail my amended return some of its features, such as inventory management, aren’t quite as advanced. Additionally, […]