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Bookkeeping

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How to Catch and Correct Transposition Errors

June 14, 2024 by Tekfortune in Bookkeeping 0 0 0

A two-percent increase in unemployment leads to a 78 percent chance of a directive not being transposed on time. Likewise, a one-percent rise in unemployment leads to a 67-percent chance of nontransposition. These are all risk factors that could...

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NY GrossUp Paycheck Calculator New-York Payroll Tax Calculator Free New-York Payroll Calculators

June 10, 2024 by Tekfortune in Bookkeeping 0 0 0

Having a strong restaurant culture reduces staff turnover and boosts restaurant sales. Whether you are starting your first company or you are a dedicated entrepreneur diving into a new venture, Bizfluent is here to equip you with the tactics...

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What is IRS Form 990 Nonprofits Tax Form 990

April 29, 2024 by Tekfortune in Bookkeeping 0 0 0

Having an accountant or someone familiar with IRS regulations on your board can help ensure a complete and accurate submission of all necessary tax forms. IRS Publication 557 – Tax-Exempt Status for Your Organization, establishes an 85% of the...

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A guide to the accounts payable turnover ratio

May 12, 2022 by Tekfortune in Bookkeeping 0 0 0

Before delving into the strategies for increasing the accounts payable (AP) turnover ratio, let’s understand the reasons behind the need for such adjustments. If your business has cash availability or can make a draw on its line of credit...

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Goodwill Accounting: What It Is and How to Calculate It

March 25, 2022 by Tekfortune in Bookkeeping 0 0 0

Tangible assets are physical items that can be seen and touched, such as buildings, machinery, and inventory. Intangible assets, on the other hand, are non-physical resources like patents, copyrights, and goodwill, which hold value for a company...

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Contra Account: A Complete Guide + Examples Xero accounting

October 9, 2021 by Tekfortune in Bookkeeping 0 0 0

Contra Liability a/c is not used as frequently as contra asset accounts. It is not classified as a liability since it does not represent a future obligation. Including contra accounts on a balance sheet is important as it allows for a more...

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Managerial Accounting

June 2, 2021 by Tekfortune in Bookkeeping 0 0 0

Managerial accountants calculate and allocate overhead charges to assess the full expense related to the production of a good. The overhead expenses may be allocated based on the number of goods produced or other activity drivers related to...

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