What Is Net Revenue?- Formula & Calculation

As such, each of these types of costs will need to be accounted for across a company’s financial reporting in order to ensure proper performance analysis. Net sales refers to the revenue earned by the company by selling its goods or services less the returns, allowances, and other discounts from the company’s gross sales. At […]

What is 3-Way Matching in Accounts Payable? Simplified

Deskera Books allows you to manage your accounts and finances better. It helps maintain good accounting standards by automating billing, invoicing, and payment processing tasks. It will help to net sales ensure accuracy and integrity in the three-way matching process, which will benefit businesses in the long run. Invoice fraud is a rampant problem for businesses […]

Debit Memo Definition, Uses, Examples, & Templates to DownloadOnline Billing Software

This adjustment is meant to address billing errors by formally notifying the customer of an increase in their accounts payable. You have most likely had certain fees charged to your bank account at some point or another. It could be for any number of reasons, but they can sometimes get taken out automatically. When this […]

What Is Replacement Cost and How Does It Work?

These reductions in carrying amounts shall be treated as impairment losses on individual assets and recognised in accordance with paragraph 60. Does not include the carrying amount of any recognised liability, unless the recoverable amount of the cash‑generating unit cannot be determined without consideration of this liability. A bus company provides services under contract with a […]

What Is Replacement Cost and How Does It Work?

These reductions in carrying amounts shall be treated as impairment losses on individual assets and recognised in accordance with paragraph 60. Does not include the carrying amount of any recognised liability, unless the recoverable amount of the cash‑generating unit cannot be determined without consideration of this liability. A bus company provides services under contract with a […]

Unearned revenue definition, explanation, journal entries, examples

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. ABC Co. receives a $10,000 advance through its bank account from a customer, XYZ Co., for future sales. Since ABC Co. has not transferred any goods or services in exchange, it […]

Top 10 IRS Red Flags That Could Trigger an Audit And How to Avoid Them

The effect of this basis overstatement is that you paid tax on $1.5M of gain, when you should have paid tax on $2.5M. In U.S. v. Home Concrete & Supply, LLC, the Supreme Court held that overstating your basis is not the same as omitting income. The Supreme Court said 3 years was plenty for the IRS to audit. However, Congress overruled the Supreme Court, giving the IRS six years […]

Accounting Services and Bookkeeping Services Outsourced Expertise

A bookkeeping service can manage your accounting software for you, which takes a lot of administrative work off your to-do list. Many bookkeepers also offer filing services, but their jobs are made easier and more accurate when a client uses accounting software. A bookkeeper can also provide you with reports on cash flow or show […]

Construction Accounting: A Complete Guide for Businesses

With the help of project accounting, the business has a proactive and forward-looking resource allocation plan. The process begins with setting up a project and establishing the appropriate financial data flow to  the accounting system of Accounting For Architects record. This can be established through the same tool or through integration to another system. An […]

Oregon Paycheck Calculator Employers and Employees Can Use

If you want to check the status of your Oregon tax refund, you can visit the Oregon Income Tax Refund page. If your state tax witholdings are greater then the amount of income tax you owe the state oregon state income tax of Oregon, you will receive an income tax refund check from the government […]