Unlike other long-term assets such as machinery, buildings, and equipment, land is not depreciated. The process to calculate the loss on land value could be very cumbersome, speculative, and unreliable; therefore, the treatment in accounting is for land to not be depreciated over time. The expanded accounting equation goes hand […]
If you use account categories or tags in your QuickBooks Online account, make sure to assign the appropriate categories or tags to the transaction to maintain consistency and ease of reporting. For example, if you need to provide additional information or notes about the deposit, […]
Financial accounting follows principles defined by accounting governing bodies like the IFRS foundation and FASB. Commonly followed accounting practices are defined as Generally Accepted Accounting Practices (GAAP). Accounting was developed thousands of years ago, and the concept of double-entry bookkeeping and debits and credits was introduced in 1494 […]
In today’s digital age, where information flows seamlessly and rapidly, businesses have embraced technology to streamline their operations. One fundamental aspect is the utilization of software solutions that allow for efficient data management. These tools not only facilitate the recording and organization of data but […]
RailsCarma has worked on projects spanning multiple industries such as HealthCare, Wellness, Accounting, Hosting & Datacenter, Retail, Ecommerce, ERP systems etc successfully in the past years. RailsCarma provide end to end Ruby on Rails consulting, architecture, building, management and extension to companies around the globe. With a blend of ingenuous […]
Once the funding is in place, these companies can understand in what years the potential arises for interest expense to exceed 30% of operating income. These companies can then review capital budgets to assess whether the purchases of capital could be accelerated or decelerated to offset any negative impacts in after-tax operating income and free […]
Interior designers should strongly consider hiring a professional bookkeeper to manage their financial affairs for a multitude of compelling reasons. First and foremost, a skilled bookkeeper possesses the expertise to navigate the complex world of finances, ensuring accurate record-keeping and compliance with tax regulations. This expertise […]
As long as your issued shares constitute a third to half of your authorized shares, this method will save you money. If your Delaware franchise tax is submitted late, a $125 late fee and interest fee of 1.5 percent will be charged. If your business was formed or is located in another state but generates […]
There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. For a list of itemizable deductions, refer to Dough Roller’s ultimate list. For example, if you are single and have a child, you should file […]
Whether you choose to outsource your bookkeeping tasks or handle them yourself depends on the need of your business, it is important to know about these softwares. This is especially true if you have an eye on cost of bookkeeping and quality. We provide custom […]