Bookkeeping

The 990 also gives each nonprofit an opportunity to report what it accomplished the prior year, thus making a case for keeping its tax-exempt status. Most tax-exempt organizations that have gross receipts of at least $200,000 or assets worth at least $500,000 must file Form 990 on an annual basis. Some organizations, such as political …

Last Minute Reminder: Filing Deadline For Most Tax-Exempt Organizations Is May 15 Read More »

When you have real numbers to work with, rather than estimates, it’s easier to compare the return of a chosen investment to the forgone alternative. Any effort to predict opportunity cost must rely heavily on estimates and assumptions. There’s no way of knowing exactly how a different course of action will play out financially over …

Calculating Opportunity Cost Microeconomics Read More »

It’s also helpful for understanding how your mortgage payments are structured. A mortgage amortization schedule is a table that lists each monthly payment from the time you start repaying the loan until the loan matures, or is paid off. The amortization schedule details how much will go toward each component of your mortgage payment — …

Amortization Calculator Read More »

Retained earnings are a type of equity and are therefore reported in the shareholders’ equity section of the balance sheet. Although retained earnings are not themselves an asset, they can be used to purchase assets such as inventory, equipment, or other investments. Therefore, a company with a large retained earnings balance may be well-positioned to …

Statement of retained earnings definition Read More »

It is important to note, however, that the recorded allowance does not represent the actual amount but is instead a “best estimate”. Given the prevalence of paying on credit in the modern economy, such instances have become inevitable, although improved collection policies can reduce the amount of write-offs and write-downs. Now let’s say that a …

Bad Debt Expense Definition + Journal Entry Examples Read More »

Your dedicated bookkeeper can answer any of your questions either through the QuickBooks portal or email. In addition, Bench includes tax preparation and filings with all its plans, a service that some competitors don’t offer or charge additional fees to handle. Plans for Pilot Bookkeeping start at $599 per month for businesses with less than …

Biden calls Trump unfit to lead the military and is off on details of uncle’s death Read More »