Category: Bookkeeping
How to Balance Your Checkbook
If your check register and bank statement don’t balance, double-check your math to see if there are any adding or subtracting errors on your register….
Where do I enter my sales taxes paid?
Usually your business tax ID is issued at the time of tax or business registration. You can find this number on tax or business documents…
What are Retained Earnings? Guide, Formula, and Examples
This financial metric provides insight into a company’s profitability, and more importantly, its financial health. As a business owner, understanding how to calculate retained earnings…
How to calculate Cost of Goods Sold COGS
The balance sheet only captures a company’s financial health at the end of an accounting period. This means that the inventory value recorded under current…
What is the double declining balance method of depreciation?
If you would like a depreciation schedule included in the results so you can print it out, move the slider to the “Yes” position. If…
Consolidated Financial Statements Formula: Accounting Explained
Similar eliminating entries would be made for intercompany debt, asset transfers, dividends, and other balances. The parent company’s investment account balance related to the subsidiary…