Time vs Timing What’s the Difference?

por | Sep 4, 2024 | Bookkeeping

Suppose you have a data set as shown below and you want to calculate the total number of seconds that have elapsed between the start and end date. Sometimes, Excel tries to be helpful and will give you the result in time format as well (as shown below). For example,...

Cash Flow Statement: Definition, Example, & Methods

por | Nov 2, 2023 | Bookkeeping

If, say, you’re setting up a limited company and need an injection of capital to get things moving, your financing activities might involve taking out a loan to cover startup costs or buying equipment on credit. For more established businesses, the category could...

Contra Expense Account

por | Feb 8, 2023 | Bookkeeping

Contra asset accounts include allowance for doubtful accounts and accumulated depreciation. Contra asset accounts are recorded with a credit balance that decreases the balance of an asset. Purchase returns, allowances and discounts are all examples of contra expense...

What Is an Outsourced CFO and Do You Need One?

por | Feb 7, 2023 | Bookkeeping

As we’ll see, these give you access to specialized finance advice, tailored to your business, without a long-term commitment. You save yourself from going through a lengthy search and hiring process, and you get the expertise you need. Outsourced CFOs can be...

Voucher Definition, Types of Vouchers, and How To Use

por | Dic 21, 2022 | Bookkeeping

The most common misconception is that paper vouchers are inherently less secure than other payment methods and should be avoided. Another is that because they are not widely used, paper vouchers are no longer in circulation. The manager of the fresh food department...