What Is Retainage? Everything a Contractor Needs to Know
Retainage is an amount of money withheld from payment to a contractor or subcontractor until the end of the construction project, or a time specified in the contract. Also known as “retention,” the practice of withholding retainage is commonly used to ensure that the contractor or subcontractor finishes work completely and correctly. Most construction co
Financial Literacy Trivia Quiz: How Much You Know? Trivia & Questions
This will get all the words on the grid about 90% of the time, depending on the word list. For the other 10%, you will get an alert explaining that the words that did not fit were added to the scratchpad. When you hit the ‘Arrange’ button, our algorithm will try to arrange all your […]
What Accounts Are Debit and Credit? A Quick Guide
(Montana has gone from seven tax brackets to two.) One bracket is tied to a 4.7% state income tax rate, and the other to a 5.9% tax rate. Florida kicked off 2024 with its first-ever January back-to-school sales tax holiday. This tax-free period is similar to the back-to-school tax-exempt shopping offered by Florida and other […]
Xero Review 2024: Features, Pricing & More
Its Starter package starts at £10 per month; the Standard package comes it at £22 per month; while the Premium package costs £27.50 per month. Unlike Xero and Sage, FreshBooks also offers robust inventory management tools on its lowest tier, which suggests the software will be especially useful to online retail stores and food delivery […]
Xero vs QuickBooks Online: Whats Best for You?
We evaluated Xero vs QuickBooks based on ease of use, pricing, and how well each performed against the ideal features we’re seeking—including project accounting, inventory management, and mobile accounting. A satisfied Xero user shared that the program is the most user-friendly accounting software on the market. Xero can be easy to use after you become [
All You Need to Know About Dividends in Arrears: Impact on Shareholders
It allows investors to see clearly how much money should be coming their way from past periods. Their expected returns on investment shrink, making their shares less appealing. This can turn away potential buyers who seek reliable income from their investments. AccountingTools Additionally, companies can halt preferred dividend payments if there isn’t
Accumulated Depreciation and Depreciation Expense
Suppose that a company purchased $100 million in PP&E at the end of Year 0, which becomes the beginning balance for Year 1 in our PP&E roll-forward schedule. We do not manage client funds or hold custody of assets, we help users connect with relevant financial advisors. So, the accumulated depreciation for the equipment after […]
Accumulated Depreciation: All You Need To Know + Examples
One primary purpose of calculating accumulated Depreciation is to determine an asset’s book value. Calculating accumulated Depreciation plays a crucial role in businesses’ financial reporting and decision-making processes. If there is no opening of accumulated depreciation, then the ending balance is equal to the amount charged during the year. For the n
What Is an Outstanding Check? Outstanding Checks 101
Content How Marisa Persevered and Passed Her CPA Exams Bank Reconciliation How to prepare a bank reconciliation? Outstanding Check Registers Banks often require customers to pay monthly account fees, check printing fees, safe‐deposit box rental fees, and other fees. Unrecorded service charges must be subtracted from the company’s book balance on the
Accumulated Other Comprehensive Income Financial Definition
After-tax net income before discontinued operations, extraordinary items, and the cumulative effect of changes in accounting principle. Adjusted cash flow provided by continuing operations divided by adjusted income from continuing operations. A cluster of accounts that are listed after fixed assets on the balance sheet, and which contain minor assets that c