Whether this is a smart decision depends on the volume of transactions and your level of patience. If you use the accrual system of accounting, you might “debit” your cash account when you finish a project and the client says “the cheque is going in...
The cash flow statement complements the balance sheet and income statement and is part of a public company's financial reporting requirements since 1987. Cash flows from financing (CFF), or financing cash flow, shows the net flows of cash used to fund the company and its capital. Financing...
With the double-entry accounting system, accounts receivable, and accounts payable are the common types of control accounts. Purchase Ledger Control Account (PLCA) is a summarized ledger of all the trade creditors of the entity. This Control Account typically looks like a “T-account” or a replica...
There is a distinction between a payroll tax and an income tax, although both are deducted from paychecks. Unlike most salaried workers, self-employed people don't have employers to remit payroll taxes on their behalf. As a result, they must cover both the employer and employee...
587, Business Use of Your Home, for information on determining if your home office qualifies as a principal place of business. For other items of listed property, allocate the property's use on the basis of the most appropriate unit of time. The useful life of...
We delivered another strong quarter Small Business & Self-Employed Group with Online Ecosystem revenue growth of 35% in the fourth quarter and 38% in fiscal year 2019. Online ecosystem revenue is at a $1.8 billion annualized run rate, and we continue to expect it to...
The calculation of FTE salary for part-time employees based on the above example will represent the FTE hours divided by the salary they earn. You’ll also need to know the actual number of weekly work hours to complete the FTE calculation. Actual hours worked per...
Final categorization of income and expenses for tax purposes is your responsibility. Lili is not a tax preparer and does not provide tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors regarding your specific situation. Make it company policy...
Earn Chase Ultimate Rewards® on everyday purchases and redeem for travel, cash back and more. See all our rewards credit cards and choose one that’s right for you. To get a frequent flyer number, you must be part of a frequent flyer program. These are...