Category: Bookkeeping

If the account is not cleared, it can accumulate payments indefinitely, leading to confusion, inaccurate balances, and difficult audits. Think of this as a staging area where payments are collected before being formally deposited. Imagine a scenario where a business receives several customer payments throughout the day—some by check, others by cash. Doing so allows …

What Is an Undeposited Funds Account?Read More

Annual turnover is the percentage rate at which mutual funds or ETFs replace their investment holdings. Calculating turnover rates can be useful in gauging how actively a fund is managed and its efficiency. Both high and low turnover rates can have different implications for fund quality and performance, and alone are not reliable indicators. Actively …

Investment turnover ratioRead More

As mentioned, mark-to-market accounting provides a realistic financial picture, especially for businesses in the financial industry. Banks were listing the original price they paid for assets and only made changes on the books when those assets were sold. In contrast to fluctuating accounting models is historical cost accounting, where a fixed asset is recorded on …

Mark to Market MTM: What It Is & How Its UsedRead More

QuickBooks Online Payroll integrates directly with QuickBooks Online to make managing your business’s finances easier. There are two different versions of QuickBooks payroll products. QBO Payroll’s features and ease of use make it an efficient and competitive product. You need comprehensive payroll and HR solutions that empower your people and unlock your teams’ potential. Save …

QuickBooks Pricing ChangesRead More