Bookkeeping

A spell checker, sometimes referred to as spell check, a spellchecker (one word), or a spell correction of errors tester, points out words you’ve misspelled when you’re writing on a computer or mobile device. It can be a standalone function or be built into or added to an existing program that you write in. One observer calls it “business journaling.”…

Accrual-basis accounting requires extensive use of both accounts payable and accounts receivable to keep track of these accruals. And it’s the core metric that outside observers will use to measure your organization’s retained earnings balance sheet financial value (and viability). So let’s start with the basics, and later we’ll dig into some of the things that make nonprofit accounting unique.…

For example, office furniture is depreciated over seven years, automobiles get depreciated over five years, and commercial real estate is depreciated over 39 years. MACRS depreciation is an accelerated method of depreciation, because allows business to take a higher depreciation amount in the first year an asset is placed in service, and less depreciation each subsequent year. Other times, accumulated…