The better the line fits the data, the smaller the residuals (on average). In other words, how do we determine values of the intercept and slope for our regression line? Intuitively, if we were to manually fit a line to our data, we would try to find a line that minimizes the model errors, overall. …
Companies that more efficiently use their fixed assets enjoy a competitive advantage over their competitors. An understanding of what is and isn’t a fixed asset is of great importance to investors, as it impacts the evaluation of a company. Each amount is deducted from the fixed assets at the end of every financial period. Similarly, …
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An accountant for property management companies needs to keep track of the company’s finances and manage individual accounts for the properties that the company oversees. For example, to rent out a property, your expenses may include advertising costs and real estate fees. The main difference between cash accounting and accrual accounting is that in accrual …
To keep your QuickBooks Online certification valid, you need to take a short recertification exam between May 1 and June 30. I recommend that you take the updated exam each year to stay current. Members who are certified on the latest version of QuickBooks Online are listed in the top section of the QuickBooks Find …
QuickBooks ProAdvisor: Roles, Benefits, and Certification Read More »
This article discussed a variety of topics related to general journals. You learned what general journals are, how to complete an entry, what they’re used for and more. Hopefully this article clears up any questions you have regarding general journals. Several bookkeepers choose to enter the specific day with the description of each entry. This …
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For government agencies, particularly in the United States, prices for services should be set at a level which is in line with costs. Accurate cost allocation and understanding of cost drivers is critical for this process. Ensure all direct expenses remain within the confines of COGS included in the financial statements. This is important in …
In construction bookkeeping, you must keep several financial records to track them accurately and comply with regulations. By automating receipt management and expense tracking, Shoeboxed saves construction bookkeepers significant time. This allows them to focus on more strategic tasks such as financial analysis and planning. Users can also create custom tags to categorize expenses according …
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The amount of paid-in capital from an investor is a factor in determining his/her ownership percentage. The equity capital/stockholders’ equity can also be viewed as a company’s net assets. You can calculate this by subtracting the total assets from the total liabilities. For example, a shareholder might be an individual investor who is hoping the …
I have called numerous times to tech support and they still have not fixed issue how to calculate retained earnings formula and retained earnings statement with FUTA taxation. They so incompetent asking for Publication 15 that should be a core of PR taxation and even ask to provide tax document from Federal tax authority. This …
How to Reconcile Payroll Liabilities in QuickBooks Payroll in 6 Easy Steps Read More »
If you already calculated that number when you completed Step 2, you’re done! If not, I recommend using the IRS online tax withholding estimator to determine whether you need any extra withholding. The W-4 form requires basic personal information, like your name, address, and Social Security number. Option (c) is if you have a second …
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