June 01, 2022
Charles Lutwidge
What is a Schedule K-1 Tax Form
A Schedule K-1 is a tax form to report income, losses, and dividends of a business’s or enterprise’s partners. It’s also used to report income, losses, and dividends to S corporation’s shareholders. Partners in a business have to file the...
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May 30, 2022
Charles Lutwidge
What are Trade Receivables in Accounting?
The amount billed by a business to customers for the goods and services supply in the ordinary business course is called trade receivables. These are usually documented in official invoices, summarized in the Accounts Receivable Aging Statement. Staff commonly uses...
May 27, 2022
Charles Lutwidge
Best Free Accounting Software for Small Business
Managing small businesses’ finances may become a nightmare without proper software. Companies can still record financial operations manually by using spreadsheets. Even though it’s a free option, it takes time and effort. If you don’t have the funds to buy...
May 26, 2022
Charles Lutwidge
What are net terms?
Typically, businesses have problems with cash flow. On paper, the company may have success, but in reality, clients are late with covering invoices. As a result, companies have to face the consequences. In some cases, these consequences lead to bankruptcy....
May 25, 2022
Charles Lutwidge
Stocks and Bonds: The Difference
Such terms as stocks and bonds often pop up when people talk about investments on the market. However, it’s critical to understand the difference between these terms since they pose different risks and returns. We have prepared this article to...
May 24, 2022
Charles Lutwidge
How to Calculate Commission in Accounting
Many businesses prefer to award their employees by using different means, such as paying a commission on sales. The calculation formula depends on several factors. We have prepared an article to figure out all the details. You will learn what...
May 22, 2022
Charles Lutwidge
What are Management Assertions?
Management assertions often become nightmarish for people responsible for their preparation. They are used in auditing to ensure which financial records and disclosures are correct. If the audit shows any mistakes, it may cause problems for the company. In the...
May 19, 2022
Charles Lutwidge
How to Balance Purchase Ledger
A well-thought accounting system is vital to any business. That’s why it’s critical to understand all components of an accounting system. One of such components is the purchase ledger. We have prepared an article for our readers to disclose the...
