Category: Bookkeeping

Content Examples of Salary Payable Journal Entries What is the Difference Between Salaries Payable and Salaries Expense? What type of account are wages and salaries payable? Wages Payable Accounting – Balance Sheet Liability Individuals generally work a 9-5 job with the expectation that they receive payment for the work done either at the end of… Continue reading Salary Payable: Definition, Example, Journal Entry, and More

Content Lower interest coverage ratio Interpretation: How Do You Analyze Interest Coverage Ratio? EBIT- Earning Before Interest and Taxes Aids Effective Debt-related Decision-making A relatively high interest coverage ratio is an indicator of how well a company can manage its debts and grow in the long term. For instance, large established corporations in stable mature… Continue reading Interest Coverage Ratio Formula, Example, Analysis, Calculator

Content Forecasting Future Performance: How is the interest coverage ratio calculated? Is an interest coverage ratio a liquidity ratio? The interest coverage ratio is one of the most important ratios for investors and creditors alike. A high interest coverage ratio means that the company has more than enough cash flow to make its debt payments.… Continue reading Interest Coverage Ratio Financial KPIs

Content Organization Objectives of Trial Balance: What Is a Trial Balance? Definition of Related Terms Entry in Wrong Amount This is done by adding up all the debit balances and all the credit balances and comparing the two totals. Each accounting entry’s total dollar amount of debits and credits is required to match. As a… Continue reading Preparing a Trial Balance Financial Accounting

Content Accounting software Objectives of the Trial Balance AccountingTools Who Uses a Trial Balance? The adjusted trial balance is typically printed and stored in the year-end book, which is then archived. Finally, after the period has been closed, the report is called the post-closing trial balance. This post-closing trial balance contains the beginning balances for… Continue reading What is a Trial Balance? Definition

Content Protect your information from scammers online and on your phone Forms & Instructions Account Closure Notice Every return filed securely Stolen Identity Refund Fraud Whether you work with a professional tax preparer or send your own returns to the IRS in the mail, someone can use your personal data to steal your tax return.… Continue reading Taxpayer Guide to Identity Theft Internal Revenue Service

Content Financial Accounting How to Make Corrected Entries in Accounting How to Fix an Incorrect Trial Balance Using Reversing Entries Definition and Examples of Reversing Entries Reversing entries are the mirror images of an accrual entry, usually recorded on the first day of the succeeding month. Reversing entries are optional but tend to simplify accounting… Continue reading Understanding Reversal Entries

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Content Update Product Connect your PayPal account and we’ll auto-fetch your sales, fees, taxes, shipping, refunds and reimbursements. Updated Purchase Invoice If you have recurring payments or subscriptions from your PayPal account, make sure to suspend them. In a 2002 license agreement, Stamps.com and PayPal agreed that Stamps.com technology would be made available to allow… Continue reading How a Powerful Accounting System Enabled PayPal Giving Funds Largest Charitable Campaign Ever