Credit Memos: What They Are and How To Write One
Credit memos are important for correcting billing mistakes, reflecting discounts, and providing proof of credit to customers. Credit memos make it easy to reflect the changes in the outstanding amount in an accurate way without impacting the invoicing processing or the financial statements. Debit note is a written document stating purchase return, where the buyer […]
Reconciling credit card accounts
The following month, the charge was credited in full since it was made in error. I deleted the expense and now my credit card reconciliation is off by that exact amount. I did deduct that amount from the next month’s payment since the credit card company issued a credit from the total due that next […]
The Guide to Bookkeeping for Construction Companies
Consider the cost of insurance, travel, workers’ compensation, materials, subcontractors, equipment, and more. You will need to factor this into your construction accounting for each construction project and for the business as a whole. To effectively manage these variable expenses, you can use FreshBooks Project Accounting Software which lets you track project financials and create […]
What Are Examples of Current Liabilities?
Any liability that’s not near-term falls under non-current liabilities that are expected to be paid in 12 months or more. Long-term debt is also known as bonds payable and it’s usually the largest liability and at the top of the list. Equity financing involves raising capital by issuing shares of stock. Other Definitions of a […]
Calculate returns for SIP investment
They enable regular transfer of funds from the bank to the SIP account. The SIP calculator helps estimate the potential growth of your Systematic Investment Plan (SIP) investment how to find your landlord over your chosen time frame. SIP is a convenient method to save for your long-term financial goals. SIPcalculator.net is free online SIP […]
Solved: What is the difference between Expense Transaction and Cheque Transaction?
Although employers may not be required to cover certain expenses incurred by employees, it’s still customary to do so. If an employee spends money on the company’s behalf, they may do so with the expectation that they will be reimbursed. There are several options for how often you should track your expenses. You may choose […]
Best Construction Accounting Software
You know you want to allow for accurate tracking, analysis, and reporting of financial transactions related to construction activities, but you need to figure out which tool is best. Most expense tracking in the construction industry is done via job costing. This method of accounting tracks income and expenses along with the job they relate […]
