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In other words, it means spreading out the value of an intangible asset over its lifetime. This is also applicable to loans whose book value reduces over the years through fixed and varied interest rates. Depending on the asset and materiality, the credit side of the amortization entry may go directly to to the intangible […]

Founders have enough on their plates without having to worry about their finances. We take care of the accounting so you can focus on moving your businesses forward. Centaur Digital Corp, helping busy business owners efficiently manage their accounting system. “Outsourcing is absolutely good option for any small business CPA or even a medium sized […]

Likewise, distributions to owners are considered “drawing” transactions for sole proprietorships and partnerships but are considered “dividend” transactions for corporations. Thus, this deferred tax asset gets reversed over a period of time. It gets reversed at a time when the expense is deducted for tax purposes. However, these prepaid expenses eventually turn into expenses from […]

Content Business credit cards Add Up the Deposits for a Subtotal How do I order checks or deposit slips? Personal You can update and use any invoice template according to your business’s needs, regardless of industry or size. Lawn Care InvoiceThis Lawn Care Invoice PDF template contains the essential elements to serve as an invoice […]

Content Use Time Tracking Software With Geofencing Q. Does construction accounting software offer time tracking? Improve Inventory Tracking Reconcile Bank & Supplier Statements While questions and issues may require reaching out to the manufacturer, the real efficiency comes with the team being able to use the software to its full potential on their own. With […]