0203 667 2700 / 0786 751 7693 / WhatsApp +447867517693

Amortization vs Depreciation: What’s the Difference?

by | Aug 23, 2023 | Bookkeeping

Accumulated depreciation specifies the total amount of an asset’s wear to date in the asset’s useful life. Depreciation is the gradual charging to expense of an asset’s cost over its expected useful life. Before we discuss accounting depreciation vs...

Accounting For Long-Term Assets

by | Jul 12, 2023 | Bookkeeping

Business assets also need to be included in financial statements and have a specific way they need to be accounted for, which includes marking their historical cost and any depreciation. Personal assets do not need to be reported every year on taxes nor do they need...

8 Best Accounting Software for Small Law Firms in 2022

by | Dec 21, 2022 | Bookkeeping

This list includes Wise Business, which offers a low-cost account with low fees. It’s also so great for businesses sending and receiving money from abroad. The most common and dangerous legal accounting areas to make a mistake in are trust and IOLTA accounts. To...

Small Business Owners Guide to Accrued Payroll

by | Oct 11, 2022 | Bookkeeping

Payroll accrual refers to the payable funds that accumulate and that a business must pay their workers on payday. It is one of the ways that a business can track its expenses over time to help plan ahead, better understand its liabilities, and forecast financial...

The relationship between financial statements

by | Sep 28, 2022 | Bookkeeping

Investing activities include any sources and uses of cash from a company’s investments in the long-term future of the company. A purchase or sale of an asset, loans made to vendors or received from customers, or any payments related to a merger or acquisition is...

Taxable and Tax Exempt Interest Income

by | Sep 8, 2022 | Bookkeeping

It is made up of credit lines and loans that the institution has on its balance sheet. The NII of a bank is calculated by subtracting the amount of interest paid out on deposits from the amount of interest earned from lending activities. On the other hand, NIM or net...
Select your currency
GBP Pound sterling
USD United States (US) dollar