Ábaco Estudio | Bookkeeping

20 Jul

Learn Difference Between Lifo and Fifo: Know the Key Differences

The choice between LIFO and FIFO depends on various factors, including market conditions, industry practices, tax regulations, and the nature of the inventory. Businesses must carefully evaluate these factors to...

08:03 / Bookkeeping

25 Oct

Xero vs QuickBooks Online: Features Comparison, Pros, Cons

We’ve taken the non-promotional pricing into consideration for the purposes of this article. If you’re a freelancer or solopreneur and don’t have complex financial needs, this might work best for...

17:05 / Bookkeeping

26 Ago

7 Outsourced Bookkeeping Companies For CPA Firms You Need To Know

Content“QXAS will help your CPA firm grow”Outsourcing for GoodHow Can Outsourcing Your Accounting Function Optimize Your Business Growth?…Then You NEED Virtual Bookkeeping HELP.Feature Enhancement: Duplicate Projects with Ease on LAWCLERK The...

17:39 / Bookkeeping

27 Jul

For account adjustments when prepaid rent is expired, why do we debit rent expenses?

Prepaid rent accounting helps a company match its rent expenses with the periods they benefit, providing a more accurate view of the company’s financial performance. Then, when we actually owe...

13:08 / Bookkeeping

27 Jul

What is the journal entry to record prepaid rent?

Prepaid expenses are recorded as current assets in a company’s balance sheet when a payment is made. For example, let’s say a journal entry is recorded as amount X paid...

11:42 / Bookkeeping

16 Feb

Writing Off an Account Under the Allowance Method

The customer states that its bank has a lien on all of its assets. It also states that the liquidation value of those assets is less than the amount it...

14:29 / Bookkeeping

25 Ago

Bookkeeping vs Accounting: Whats The Difference?

Every month, your dedicated bookkeeper categorizes your plumbing business transactions and generates financial reports. If more information is needed from your end, theyâ€™ll promptly contact you. When choosing bookkeeping...

14:39 / Bookkeeping