التصنيف: Bookkeeping

There are some important differences in how accounting entries are treated in GAAP vs. IFRS. IFRS rules ban the use of last-in, first-out (LIFO) inventory accounting methods. Both systems allow for the first-in, first-out method (FIFO) and the weighted average-cost method. Then, they use this data to create budgets, financial documents, and reports. Access a…

When doing comprehensive financial statement analysis, analysts typically use multiple years of data to facilitate horizontal analysis. Each financial statement is also analyzed with vertical analysis to understand how different categories of the statement are influencing results. Finally, ratio analysis can be used to isolate some performance metrics in each statement and bring together data…

In cash accounting, the revenue is only recorded if the money has actually been received for the goods or services delivered. Incomes generated through activities that are not part of the core business operations of the business are not classified as sale revenue but are classified instead as gains. For instance, sale revenue of a…

The general ledger (GL) is the main ledger and contains all the accounts a business uses in its double entry bookkeeping system. The purpose of the general ledger book is to provide a permanent record of all financial transactions and balances classified by account. The general ledger functions as a collective summary of transactions posted…

As you can see, once you have all the data you need, it’s a pretty simple calculation—no trigonometry class flashbacks required. ✝ To check the rates and terms you qualify for, SoFi conducts a soft credit pull that will not affect your credit score. SoFi has no control over the content, products or services offered…

It handles account management using QuickBooks to reduce paperwork, adapt to the enterprise’s specific goals and needs, and generate reports swiftly. Working with a bookkeeping service provides many advantages for businesses. By partnering with an experienced financial expert, companies can receive advice and guidance on the best ways to manage their finances. Additionally, a good…

“For some, this will mean several additional months to file their California tax returns or make their quarterly estimated tax payments to the state,” state controller and FTB chair Malia M. Cohen stated in a release about the extended deadline. california income tax rate In California, different tax brackets are applicable to different filing types.…

At Soukkala Consulting, we have a history with QuickBooks Enterprise Solutions and can help you with the transition. We will learn about your business and analyze the platforms you have been using to create the most effective transition method into Enterprise. With Enterprise Advanced Reporting, you can create and implement interactive reporting, making QuickBooks exceptional…