8 Best Home Bookkeeping Software for Business & Personal Use

Nestling within NerdWallet are nudges towards financial products, but that’s still worth living with for the valuable insight the software gives about your financial wellbeing. In terms of bills, you can also see which utilities and similar you are constantly paying out to, and see both the amounts to be paid and how much money […]

Closing Entries Financial Accounting

All drawing accounts are closed to the respective capital accounts at the end of the accounting period. Remember, dividends are a contra stockholders’ equity account.It is contra to retained earnings. The remaining balance in Retained Earnings is$4,565 (Figure5.6). This is the same figure found on the statement ofretained earnings. Understanding the accounting cycle and preparing […]

Deferred Revenue Accounting: A Simple Guide for Businesses Automate Discover opportunities. Grow profitably.

Learn how to effectively manage deferred revenue using double entry accounting to ensure accurate financial reporting and compliance. Common examples of transactions resulting in deferred revenue include subscription-based services, prepayments for goods or services, advance ticket sales, and annual maintenance contracts. For instance, when a customer pays for a one-year magazine subscription, the publisher records […]

An Overview of Florida Taxes

Florida income tax policies are designed to support the state’s economy through alternative revenue sources such as sales tax, property tax, and tourism-related taxes. This approach helps maintain the state’s financial health while avoiding the need for a state income tax. While a Florida income tax calculator might seem like a useful tool, it isn’t […]