Category: Bookkeeping

Examples are purchase receipt templates, store receipt templates, and payment receipt templates. Petty cash receipts are an important recording and tracking tool, especially if it deals with cash payments. This is where petty cash receipts come into the limelight. After encashing the check, the money is then added to the petty cash fund so the…

In Sanskrit, man– means “think” and relates to the mind. In Hinduism, it is a word that is chanted or sung like an incantation or as a prayer. Learning words when we’re young is often taught through repetition. Sama or samana is the perfect mantra to use after you’ve had a long day of conjuring…

Beyond FASB’s preferred method of interestamortization discussed here, there is another method, thestraight-line method. The first difference pertains to self employment tax the method of interestamortization. However, there are many types oflong-term liabilities, and various types have specific measurementand reporting criteria that may differ between the two sets ofaccounting standards. The periodic interestpayments to the…

If you don’t have a procedure in place to identify variances (and rectify them), then at the end of the financial year, you’ll be $12,000 in the hole. A negative variance is when you’ve spent more than anticipated. In this article, we’re going to explore the finer details of budget variance. But now, you’re two…