If you purchase QuickBooks Online payroll, these forms may be included, depending on your chosen payroll plan. QuickBooks now offers a free small business checking account called QuickBooks Checking (formerly known as QuickBooks Cash). Opening a QuickBooks Checking account is […]

In other words, when you make an adjusting entry to your books, you are adjusting your income or expenses and either what your company owns (assets) or what it owes (liabilities). Adjusting entries are accounting journal entries made at the […]

When noncumulative preferred stock is outstanding, a dividend omitted or not paid in any one year need not be paid in any future year. Because omitted dividends are lost forever, noncumulative preferred stocks are not attractive to investors and are […]

Accounting periods are established for reporting and analysis purposes. In theory, an entity hopes to experience consistency in growth across accounting periods to display stability and an outlook of long-term profitability. The method of accounting that supports this theory is […]

In short, the bank balance is the ending balance appearing on a bank statement and what we recommend using to set your starting balances. For example, when an organization receives its June checking account statement from its bank, the June 30 balance […]

Just to make sure, did you receive any error message when changing your bank account? When changing the payroll bank account ensure that the old account has no pending tax payments or payroll transactions. We hope this article has guided […]

With this, may I ask for additional details on which part of QuickBooks is referring to settings? Or, did you encounter a specific error message while adding a New Class to the program? I appreciate any further details so I […]

Instead, you’ll create another journal at the end of the quarter when you send Sam’s total withholdings to the government. Even if you have an accountant, it’s good to understand what goes into each entry so you know how to […]

For example, when reviewing your trial balance for the current year, you notice that your travel expenses have been averaging $1,500 a month, but in July, travel expenses jumped to $5,000. While it may be tempting to fly to Vegas […]

It implies that a business must refrain from changing its accounting policy unless on reasonable grounds. If for any valid reasons the accounting policy is changed, a business must disclose the nature of change, the reasons for the change and […]