Category: Bookkeeping

In 1984, Anant Yardi created “Basic Property Management” for the Apple II computer and sold it to our first customer, Sabaco Realtors. Since then, Yardi has grown dramatically to become the leading provider of software solutions for the real estate industry. Current Yardi clients are invited to browse class offerings and course descriptions (including prerequisites)… Continue reading Yardi Investment Suite: Manage the Investment Lifecycle from Investor to Asset

You can now compare your 1st column with the last period’s closing balances or the 1st day of this period’s balances to ensure accuracy. This makes it easier to prepare financial statements since they will contain one less step. This report captures what the business owns and owes without any adjustments for revenue earned but… Continue reading Unadjusted trial balance: Definition, preparation and example

These businesses can inadvertely make errors in counting money and issuing change to customers. Variances between expected and actual amounts are called “cash-over-short.” This variance account is kept and reconciled as part of the company’s income statement. Reconciliation is an accounting procedure that compares two sets of records to check that the figures are correct and in… Continue reading Bank Reconciliation: Why Do You Need Regular Reconciliations?

After the customer pays, you can reverse the original entry by crediting your Accounts Receivable account and debiting your Cash account for the amount of the payment. Realistically, the transaction total won’t all be revenue for your business. In new accounting software, both functions of this column are happening simultaneously. The warehouses are updated constantly,… Continue reading What is Sales Journal? Definition and Types of Sales Journal

An example of an adjusting entry is the accrual of unpaid wages at the end of an accounting period. If a company has employees who have worked but have not yet been paid, an adjusting entry is made to record the amount of the unpaid wages as an expense and a liability. Depreciation is the… Continue reading Adjusting Entries: A Simple Introduction Bench Accounting

With Hosting came the option of accessing the software from any remote location using any internet-enabled device. At this point, we can hop into QB2 to confirm that we can reach this company data file from other machines. Simply pay a flat monthly fee per person for Hosting, and get the flexibility to add or… Continue reading QuickBooks Desktop 2024: Scale up your business on the cloud!

There are four key types of contra accounts—contra asset, contra liability, contra equity, and contra revenue. Contra assets decrease the balance of a fixed or capital asset, carrying a credit balance. Contra liabilities reduce liability accounts and carry a debit balance. Contra equity accounts carry a debit balance and reduce equity accounts. What are the… Continue reading What is a Contra Account? Definition Meaning Example

The bottom line is that accounting is a stable career, and you likely won’t have trouble finding a job that’s right for you. “From big tech to the FBI to the NBA, every single industry and every single company needs an accountant,” Barentzen says. Ultimately accountants build trust with consumers and investors, forming what Heller… Continue reading Understanding Accountant Duties: What Does An Accountant Do?

Deltek ComputerEase’s specialized work in progress reporting helps contractors track progress on every job. It’s easy to simply compare the total costs spent to date with your estimated budget and assume that a project is running smoothly if your cost spent to date has not exceeded your budget. But, using multiple calculations, you can see… Continue reading Work in Process WIP Inventory & How to Calculate

Take our free career test to find out if bookkeeper is one of your top career matches. By clicking “Submit,” you agree to permit Intuit to contact you regarding QuickBooks and have read and acknowledge our Privacy Statement. At your request, QuickBooks will conduct a full evaluation of your bookkeeper’s work. If you invoke the… Continue reading How to Become a Bookkeeper A Complete Guide