Category Archives: Bookkeeping

A better way to understand how much you should pay staff is by analyzing the industry standards for certain positions. Check out Keela’s guide to nonprofit salaries to understand more about what to pay your team. CLICK’s mission is to engage the community by raising funds for programs that support inner-city kids so they can […]

Losing your bookkeeping records due to a natural disaster, a computer virus, or hardware failure can be devastating. When using this method, you recognize revenue as a percentage of the work your company completed during a period. The first set should cover information on the progress milestone met and reflect the total amount authorized for […]

While the CPA fee schedule has the potential to cost more than one of these options, you may find that you save more on your taxes by entrusting them to a certified public accountant. As you can see from the above examples, adjusting entries the CPA rates per hour vary depending on seniority within the […]

The second sale of 180 units consisted of 20 units at $21 per unit and 160 units at $27 per unit for a total second-sale cost of $4,740. Thus, after two sales, there remained 10 units of inventory that had cost the company $21, and 65 units that had cost the company $27 each. Ending […]

Thenext transaction figure of $100 is added directly below the January12 record on the credit side. In the journal entry, Utility Expense has a debit balance of$300. This is posted to the Utility Expense T-account on the debitside. You will notice that the transactionsfrom January 3 and January 9 are listed already in this T-account.The […]

After Robert has entered all of his initial business transactions into the general ledger, he runs a balance sheet which that all accounts are aloe accounting equation in balance. To better understand the accounting equation, we’ll take a closer look at each section of the balance sheet. A statement of a company’s assets, liabilities, and […]