Category: Bookkeeping

Till then, the liability is treated as the deferred tax, which is repayable within the next financial year. Long-term debt’s current portion is a more accurate measure of a company’s liquid assets. This is because it provides a better indication of the near-term cash obligations. Long-term liabilities are those types of financial obligations that will…

Till then, the liability is treated as the deferred tax, which is repayable within the next financial year. Long-term debt’s current portion is a more accurate measure of a company’s liquid assets. This is because it provides a better indication of the near-term cash obligations. Long-term liabilities are those types of financial obligations that will…

Like restricted and unrestricted funds, keeping grant and sponsorship money can save you headaches at tax time (and when communicating with donors). Not only does it help with transparency in your organization, but properly recording revenue keeps you in compliance with nonprofit regulations. The most important standard dealing with government grants is IAS 20 Accounting…

In either case, when a specific invoice is actually written off, this is done by creating a credit memo in the accounting software that specifically offsets the targeted invoice. Bad debt is debt that creditor companies and individuals can write off as uncollectible. Consider the success story of Yaskawa America, one of our clients, who…

This is a financing option for businesses who need capital fast and don’t want a long term repayment structure. Unfortunately, the APR for a merchant cash advance can range anywhere from 20% to 100%. This is much more expensive than the typical small business loan, which tends to have an APR of 10% or lower.…