This lesson explains the basic business principles of amortization of financing costs, organization of information, reporting and interpretation. It is written for bookkeepers, novice accountants and small business owners. To illustrate, consider a software company that develops a new application. If the company expects the software to be relevant for five years, it might amortize the […]
Category Archives: Bookkeeping
Following this structured strategy ensures compliance while offering clear insights into your company’s monetary health at any given time. It requires you to assume of every particular person obligation you have under your contract as a separate transaction and allocate costs to these transactions. For example, say you’ve a espresso box subscription service via which […]
And then there’s Xero, which has a lot of the functionality of QBO and is very popular outside of the US. But if you reconcile them and actually match them against bank transactions, you can’t make something up – your accounting data and system become reliable. A good example of why is it so important […]