Bookkeeping

Doing a net of tax calculation for both years can show you which year might be the best, giving you the lower tax effect. There may be other strategies you can use to minimize the tax effect of your business sale. Before you begin negotiations, get a tax professional who …

This ensures that your small business can keep a good cash flow, and makes bookkeeping much easier. Start using Moon Invoice, the industry-leading invoicing software, if you want to create polished invoices and accelerate your payments. Invoices may be made with a personal touch and at no cost using this …

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Depreciation expense is then calculated per year based on the number of units produced that year. This method also calculates depreciation expenses using the depreciable base (purchase price minus salvage value). Each period in which the depreciation expense is recorded, the carrying value of the fixed asset, i.e. the property, …

Contra Liability a/c is not used as frequently as http://www.kozma.ru/archives/articles/kazakov-en.htms. It is not classified as a liability since it does not represent a future obligation. Accumulated depreciation is a contra asset account used to record the amount of depreciation to date on a fixed asset. If accounts receivable is $40,000 …