One month of insurance is equivalent to a $1,000 (12,000 divided by 12 months) premium. On January 31st, you would debit insurance expense in the amount of $1,000 and credit $1,000 to the prepaid insurance expense account. This adjusting entry is recorded at the end of each month through December 31st which at that time [...]
One month of insurance is equivalent to a $1,000 (12,000 divided by 12 months) premium. On January 31st, you would debit insurance expense in the amount of $1,000 and credit $1,000 to the prepaid insurance expense account. This adjusting entry is recorded at the end of each month through December 31st which at that time [...]
If your property is going to run smoothly month-to-month and year-to-year, your finances have to be in order. Basically, without good accounting your hotel can get trapped in a cycle of debt, barely keeping its head above water. Or even worse, the business could collapse without you realising until it’s too late. If you feel [...]
Overall, becoming a merchant service provider offers the potential for financial success, career growth, and the satisfaction payroll of helping businesses thrive in today's digital economy. To become a merchant services agent, begin by researching and partnering with a merchant services provider that offers agent programs. Complete any necessary training and obtain any required certifications [...]
Finally, cost allocation allows companies to compare their performance against similar businesses. Activity-based costing (ABC) is a costing method that assigns overhead and indirect costs to related products and services. This cost accounting method recognizes the relationship between costs, overhead activities, and manufactured products, assigning indirect costs to products less arbitrarily than traditional costing methods. [...]
Finally, Zoho Books doesn’t sync with as many third-party apps as competitors. While you can sync other Zoho products to your Zoho Books account, you don’t have many ecommerce or inventory management options. Plus, the free plan limits your online payment gateways to Stripe and PayPal. For more app options, we recommend Xero (which syncs [...]