Learn from my onsite experience; how to deploy QuickBooks software solutions for Poultry farm production and inventory management. Running a poultry farming is not as straight forward as other general retail or manufacturing business where you only buy and resell products. It’s a business run by people or entrepreneurs who are willing to invest their time, […]
Accounting For Payday Loans – Journal Entries For Payday Loan, Cash Advance & Interest Receivable With Provision For Bad Debts Payday Loan is a type of cash advance offered to individuals or employees looking for emergency cash to finance short-term needs. It is a convenience way to raise cash as it comes with convenient terms […]
Accounting Entries For Foreign Exchange Transactions – Journals For Forex Purchases, Fluctuation, Gain or Loss, Hedge, Revaluation & Currency Sales A foreign exchange transaction occurs when you pay a supplier or receive payment from a customer in a currency different from your home currency or a currency your financials are reported in. In such transaction, […]
A mortgage-backed security is a term that became popular during the global market crash of 2008 that dragged big financial institutions like Lever brothers, and Fannie Mae under. How do Mortgage-backed securities work? Let’s paint a scenario to explain what this term means to a layman – Assuming you want to buy a house and would […]
Accounting For Subscriptions Revenue – Learn Journal Entries For Membership, Software or Magazine or Digital Subscription Receivables & Receipts Let’s say you run a subscription –based business where members or customers make an upfront payment into your account to enjoy a particular product or service for a specified period, you need to understand that it […]
Accounting Entries For Loan Receivables & Payables – Learn How To Treat Loan Notes, Interest Payments, Provision, Write Off & Convertible Loan QuickBooks A loan is a debt instrument provided by an entity to another entity known as the borrower at an agreed interest rate, evidenced by a promissory note which specifies the principal sum, interest […]
Accounting Treatment For Insurance Premium – Learn The Journal Entries For Insurance Premium Income Paid In Advance, Payment, Claim Settlement & Brokerage Fees or Commission As a business owner who is concerned about the risk of loss, insurance is designed to secure your business against future occurrences that might lead to loss of asset or […]
Accounting Treatment For Debt Securities – Treasury Bills & Bond Investment – Journal Entries For Treasury Stock & Bond Purchases at Discount or Premium From Government. A business with excess cash can, as an alternative to bank savings, decide to invest in a short or long term securities which guarantee a fixed return on quarterly, […]
Accounting For Structured Settlements & Annuity Company – Learn The Journal Entries For Structured Settlement Annuities Purchaser From A Life Insurance Company According to Wikipedia, “A structured settlement is a negotiated financial or insurance arrangement whereby a claimant agrees to resolve a personal injury tort claim by receiving some part of the settlement in the […]
Accounting Treatment Of Trading stock or Private Equity Fund In QuickBooks – Journal Entries For Share Purchased, Dividend, Disposal or Sales Of Shares, & Revaluation of Shares Trading stock or investing in shares is an activity that involves buying a share of a company’s capital with the purpose of being a part owner of the […]
Accounting Treatment For Credit Card Transactions – This Tip Contains Guide On How To Use QuickBooks Journal Entries For Credit Card Sales, Merchant Fees, Payments And Expenses Unlike a normal business transaction carried out face to face, a credit card transaction involves the use of a payment card number, and pin issued by a provider […]
Accounting Treatment For Disposal Of Fixed Assets – Find Tips to Record Sale of Fixed Assets With Entries On Gain or Loss in Income Statement Using QuickBooks UK, US or Canada. When an asset is disposed of, there are standard accounting entries you should follow, especially when you are using an accounting software. To explain […]
According to an article published on TheNation Newspaper online, ‘Withholding Tax (WHT) is an advance payment of income tax. In principle, it is a payment for the ultimate income tax liability of the taxpayer or company. It is not a separate tax and does not confer an exemption from the filing of yearly tax returns […]
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