Basic Accounting

Having an application for a merchant account rejected by your local bank can be a soul-destroying experience, especially if you have expended a great deal of time and effort on your application, and when your business operations are already in a high-risk sector, such as adult entertainment, travel services, online pharmacy, escort services, dating, telemarketing, [...]

Everyday a new business, partnership or company is formed to carry out trading transaction in view to profit from the business activities. By the time any person register the business, partnership or company, documentation is required for every single step. The recording or tracking for these documents is both time and effort consuming. These records [...]

Early in the year, the Inland Revenue Authority of Singapore (IRAS) laid their hands on the tax evaders. Those got questioned, investigated have to pay the authority the tax shortfall due to under declaring income. To add icing to the cake, they are ordered to pay huge fine as a penalty. Among those got caught [...]

There are 5 factors in which the accounting professional will take into consideration in determining the fee. The complexity of the business depends on the nature of the business. It will determine the amount of time and effort to record the business transaction. It will layout the guidelines as:- – how transactions are to be [...]

Any business irrespective of the size needs to be handled and looked after properly and often this can turn out to be overwhelming for the business owner. It is very important to ensure that every department of the business is functioning properly so that one does not face any kind of difficulty when they have [...]

Cash flow is often called the lifeblood of a business. However the flow of cash into most businesses is uneven and there can be times when a constrained cash flow creates serious problems, even if the long term situation is positive. There are, however, ways to improve cash flow of any small business and remove [...]

Intuit recently announced some exciting changes to it’s new QuickBooks 2008 line of software products. Improvements for QuickBooks Premier Accountant 2008 Some of the most exciting changes happened in the Premier Accountant 2008 version. Here are some of the new features added for that version. 1. Now Backwards Compatible. Perhaps the most exciting new feature [...]

Whether or not youre an accounting professional, everyone should understand the basics of assets and liabilities. Understanding the difference between these two financial accounts can mean all the difference between becoming wealthy or becoming poor. The purpose of this article is to explain the difference between these two accounts and to provide some basic accounting [...]

Balance Sheet A balance sheet is simply a list of all the balance of the assets and the liabilities and the investments of the business. In a traditional way the assets are shown on the left-hand side of the page and liabilities on the right-hand side of the page. There are always two aspects to [...]

Numbers are something that leaves us with a cold feet and sweat and especially, when the numbers are endless. Whether one is managing a big or small-scale business, accounts are something that one dares to handle. And when it comes to retail accounting then one has to be alert all the time retail is one [...]