Bookkeeping

The Difference Between Gross Pay & Net Pay

Calculating gross pay can vary depending on whether the employee is salaried or paid hourly. For salaried employees, gross pay is calculated by dividing the employee’s annual salary by the number of pay periods in a year. For example, if an employee earns a salary of $60,000 per year and is paid monthly, their gross…

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Comprehensive Real Estate Accounting Guide: From Basics to Advanced

Springbord is dedicated to empowering real estate businesses with the knowledge, tools, and technology to navigate these challenges effectively. Let Springbord guide you through the complexities of real estate accounting, helping you to achieve your financial goals and maximize your business potential. Optimizing investment returns is a goal for every real estate investor. Good real…

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What Is a Tax Shield?

Contents: Are Tax Shields Good? Depreciation Tax Shield (Explained: All You Need To Know) Depreciation tax shield in net present value (NPV) calculation How to calculate the depreciation tax shield Tax payments can be saved due to a depreciation tax shield. Hence, we can see from the above example due to the depreciation tax shield…

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How to Read Financial Statements: A Beginners Guide

In short, changes in equipment, assets, or investments relate to cash from investing. Primary expenses are incurred during the process of earning revenue from the primary activity of the business. Expenses include the cost of goods sold (COGS), selling, general and administrative expenses (SG&A), depreciation or amortization, and research and development (R&D). Below is a portion of ExxonMobil Corporation’s (XOM) balance sheet for…

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Sales Revenue: Definition, Overview, & Examples

The company also said it anticipates sales of its vaccine, Comirnaty, will be $2 billion lower than previously expected because of lower-than-expected vaccination rates. For more information and instructions, see Cigarette and tobacco products tax. The entire process of determining the revenue of your business is fairly simple and straightforward. So, knowing how to calculate…

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Bookkeeping for Solo and Small Law Firms

Content What are the benefits of effective bookkeeping for a law firm? Invite Your Accountant Interest on Lawyers Trust Accounts (IOLTA) What tools are available to help with efficient legal bookkeeping? Master the art of recordkeeping We recommend QuickBooks Plus and Advanced in order to get the most from your legal billing software. Both plans…

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Best Construction Accounting Software of April 2023

Content Safety aside, why should I use a cloud-based accounting software? Best Accounting Software for Construction Business in 2023 Payments Collected ZipBooks (Good free construction accounting system) Why choose Tipalti Approve for your construction business? The software is very specific to the construction industry. For more users, you will need to contact the company for…

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The 6 Best Accounting Software for Nonprofits of 2022

Content Nonprofit Bookkeeping & Accounting For Dummies Cheat Sheet Don’t overthink overhead expenses. Use Nonprofit Accounting Software Create a Chart of Accounts Reviews Best for Large Organizations Your IRS Form 990 is the annual tax form that your nonprofit accounting team submits to maintain your tax-exempt status with the federal government. Some states also require…

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Will Robots Take Our Jobs if Accounting is Automated?

Contents: Sailaja Chiravuri, CPA Summit CPA Group Need Bookkeeping Services? Are bookkeeping services in demand? Advisory services There are several reasons why accountants might choose to leave the profession. For some, it may be simply seeking a change of pace or a new challenge. Others may feel they have reached a point in their career…

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