Income Tax - Guide With Examples & Tax Calculator
Index
* What is income tax- The basics and the meaning of Income Tax
* Why should one know about income tax?…
7 min read
Accounting
Examine the world of finance and accounting, providing in-depth perspectives and invaluable insights for industry professionals. Read more on expert analysis, discover new techniques, and stay informed on the latest trends in this cornerstone of the business world
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What Is Accounts Payable (AP)? Definition, Journal Entries, Examples
Accounts payable is a critical business process through which all companies track and manage their payable obligations efficiently and effectively.
13 min read
Understanding Payroll: Meaning of Payroll, Payroll Taxes and Payroll Software
Index
* What is payroll
* Challenges in handling the payroll process
* What are payroll taxes
* Payroll tax vs income tax
* Reporting…
4 min read
What are Retained Earnings?
Index
* What are Retained Earnings
* How to Calculate Retained Earnings?
* What is the Retained Earnings Formula?
* Understanding The Basics of…
7 min read
Bank Reconciliation Statements- Understanding The Purpose and Process
If you’ve been maintaining and running a small business, chances are you’ve come
across differences in figures between…
4 min read
What Is Chart of Accounts (COA) | A Complete Guide for Beginners
All accounting entries need to be tagged to general ledger accounts. A chart of accounts (COA) is a list of all such general ledger accounts. It contains details of each individual general ledger account including 'Account Code', 'Account Name', 'Account Type', and 'Account Balance'.
9 min read
Owner’s Equity Explained
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As the owner of a small business, you must have invested capital in your
business. Over time, and…
4 min read
What is the Accounting Cycle?
One of the most crucial components to ensure that your business runs smoothly is
its 'money.' After all,…
4 min read
Cash Accounting Vs. Accrual Accounting Vs. Modified Accrual Accounting-Explained
Time and time again, we quote a particular study from Wasp Barcode Technologies,
called the Small Business Report - Accounting…
5 min read
What Are Payment Terms in Invoicing & How They Help With Cash Flow
Many small businesses face issues with cash flow due to late payments from their customers. Being upfront and clear with payment terms is a vital part of getting paid on time.
8 min read
Bookkeeping Basics For Entrepreneurs
Bookkeeping not only keeps you in charge of your finances but also helps you take better financial decisions. Therefore, you'd do well to acquaint yourself with bookkeeping basics as an entrepreneur.
4 min read
Double-Entry Bookkeeping vs Single-Entry Bookkeeping
The vast majority of small businesses - nearly 60% - do not have adequate accounting systems knowledge. This lack of awareness has led small businesses to maintain their books of accounts using a system that is widely characterized as a single-entry bookkeeping system.
5 min read
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