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Subledger Vs General Ledger: What Are the Key Differences?

A general ledger is a complete record or journal of all of the financial transactions that occur in a business. Think of your general ledger as the central hub of your financial records. It provides a high-level overview of your company’s financial position. For example, your accounts receivable subledger tracks individual customer invoices and payments, […]

Subledger Vs General Ledger: What Are the Key Differences?

A general ledger is a complete record or journal of all of the financial transactions that occur in a business. Think of your general ledger as the central hub of your financial records. It provides a high-level overview of your company’s financial position. For example, your accounts receivable subledger tracks individual customer invoices and payments, […]

Straight Line Depreciation Method Explanation & Examples

Under this method, annual depreciation remains the same throughout the fixed asset’s useful life. Most nonmanufacturing small businesses use straight line depreciation because of its simplicity and reasonable allocation of costs across years. The depreciation journal entry is an adjusting entry, which is the entries you’ll make before running an adjusted trial balance. We need […]

Source Documents in Accounting: Definition, Importance & Examples

It is essentially a summary of the financial relationship between two businesses, including any amounts owing. Just as the name suggests, it is a document that serves as the proof or source of the transaction. The successful supplier will then convert the quote into a sales invoice after an order has been placed. Because the buyer might not be aware of the […]

Top 10 Best Heart Hospital in Chennai I Rela MS Hospitals

This includes people with congenital defects or diseases like pulmonary abnormality and also people who develop heart disease due to their lifestyle choices. Depending on the disorder or the disease, treatment may comprise of nutrition, medication and physical therapy and surgery. If your health care provider has decided that surgery is required to rectify or […]

Massachusetts Tax Tables Tax Rates and Thresholds in Massachusetts

Accurate withholding ensures compliance with tax obligations and helps maintain financial stability by spreading tax payments throughout the year. It also minimizes the risk of underpayment penalties and avoids the stress of ma tax brackets a large tax bill at filing time. Massachusetts has a 27.37 cents per gallon gas tax rate and a $3.51 […]

What is Fund Accounting? A Nonprofit’s Guide

Make sure all of your nonprofit’s transactions go through a dedicated bank account. Ask your bank whether they offer business checking accounts tailored to nonprofits. The solution you decide on should also allow you to do some form of fund accounting. Should Law Firms Use Cash Or Accrual Accounting? Nonprofit organizations must maintain transparency and […]

Become an Enrolled Agent National Association of Enrolled Agents

The demand for tax professionals is growing, making starting your own tax practice a lucrative and fulfilling career choice. As an Enrolled Agent (EA), you’ll possess the credibility, knowledge, and skills needed to serve clients effectively and grow your business. All three parts of the SEE must be passed within a two-year window. Each exam […]