One of the key elements to managing a successful business is being able to keep track of your accounts receivable, or just how much your visitors owe you. This is most frequently achieved through using accounts receivable collection software (ARCS). With many accounting software solutions, monitoring your customers’ payments and outstanding bills is made to the overall program, and then this same program sometimes also tracks your inventory movement, your purchases and sales. When deciding which ARCS matches your purpose, […]

So you want to be an accountant? Successful accountants don’t only have the educational background to make it big but most also have a few qualities that should make him stand out from the rest. If you want to be a successful accountant, then make sure that you have the following abilities: Areas of Expertise As an accountant salary you have to have some areas of expertise, great if these areas are the usual needs of the public like taxation […]

To have a liability means that you are obliged to satisfy a debt. In simple terms, a liability is what you owe. Liabilities can take on 3 forms namely: Cash you owe to your lenders Cash owed for goods received but not paid Obligations you owe your customer Cash you owe lenders Cash you owe lenders is money borrowed from a bank or any other lending institution. When you have liabilities in your business, you give others claim to your […]

Capital allowances are a tax-deductible expense to a business and consist of three elements enhanced capital allowances (effectively a form of a first year allowance), writing down allowance and annual investment allowance. A fixed asset is an asset used in the business that has an expected useful lifespan within the business of a year or more, this is recorded on the balance sheet of the business and we need to write this off to the profit and loss account as […]

It ranks right up there with death as an unavoidable part of life, but tax preparation in Phoenix AZ doesn’t always have to be painful. If you are prepared for your appointment with your CPA, you will be able to get through it well, and it may not be much worse than a visit to the dentist. Thorough preparation will allow your CPA to quickly and easily complete your return, and if you are getting a return, that makes good […]

Sure, the title I chose for this article is a seemingly strange title choice, but it will be seen as appropriate because of the subject matter I am going to talk about. Value is the beginning of all worth, especially self worth. So, I start with this question of accounting: What are you worth to yourself? Life is a cold, objective value process of accounting with genuinely wide scope and not limited views when it comes to how reality works, […]

I know it can be pretty frustrating sometimes because there are so many options to choose from. That’s why I’ve written this article – to help you learn some of the things to look for in a great piece of small business financial software. For one thing, consider the price. Just because something is the cheapest doesn’t necessarily mean you should get it! In fact, you might want to develop a rule for yourself to never get the cheapest thing. […]

Cash-basis accounting is the method where the customer does not pay until the invoice comes. The accrual accounting method is the opposite of cash-basis, and it is used by more businesses. A company that would use the accrual accounting method would document revenue when the work or service is completed, not when they receive the cash. The customer may not have even paid the company yet, but they have earned it so they record it. If the company has any […]