Author: chinguyen

You must first create the Spend Money/Payment using the “Make a Cash Refund” section at the bottom of the OP/PP transaction form. On 15 Feb you invoice the client for services totalling $2000 + GST ($2,100.00). This method treats the payment as a deposit, and use credit note to represent the customer’s credit. You must […]

This return reports the income earned from January 1st until the date of death. It can be challenging to know exactly how to handle certain types of income on the final 1040. The old maxim, “You get what you pay for,” doesn’t apply to consulting work anymore. Geographic location also affects pricing, with urban areas […]

The resulting three is allowance for doubtful accounts a permanent account separate amounts are added and converted to a percentage based on the total sales amount. You can see from these few T accounts that although total gross revenues are $1 million, we have created a matching expense that records the estimated amount that will […]

This portion of the balance sheet is composed of several distinct accounts, each providing specific information about the sources of a company’s equity. This account includes the total amount of long-term debt (excluding the current portion, if that account is present under current liabilities). This account is derived from the debt schedule, which https://www.bookstime.com/articles/vendor-master-data-management outlines […]