This counts as a prepayment from the buyer’s perspective for goods and services that need to be supplied at a later date to them. Understanding how to record unbilled...
If so, now may be the time to plug financial gaps resulting from unbilled receivables. Following these practices can help ensure accurate records, maintain healthy cash flow, and avoid...
Businesses must register to collect PST in any province where they have a physical presence or conduct substantial business activities. For example, in British Columbia, businesses must register and...
If there is no tax payable, you must still enter $0 in Box A, Box B, Box C, and Box D or file a NIL return. If you miss...
The expenses you pay to do your hobby may be deducted as miscellaneous personal expenses if you’re conducting the activity to make a profit. When tax time rolls around,...
The Break-Even Sales, however, is a more nuanced figure that needs to be calculated separately. Therefore, calculating Break-even Sales is a prerequisite for determining the Margin of Safety. The...
It aids in determining whether current business strategies are rewarding or require modification, and if so, when and how. When applied to investing, the margin of safety is calculated...
If a company is considering opening a new office, understanding the existing budget for administrative expenses allows leadership to project the additional financial burden and adjust accordingly. An administrative...
Charges for heating, cooling, power, and water are all usually classified as administrative expenses. The costs for internet, landline and mobile telephone services are also included in these expenses....
Designed exclusively for accounting professionals, QuickBooks Ledger is a low cost solution to streamline the accounts preparation of low complexity clients. Manage your work, your clients and your accounting...