Accounting Tips Tuesday

This article begins a new mini-series expanding upon the concepts found within our Accounting 101 mini-series and diving more deeply into the 'Asset' section of the Balance Sheet. more

Aug 22, 2016 10:30 PM General Ledger

In this mini-series, contributing author, Rob Shaff, demystifies the various leases that businesses enter into, which are all too often improperly reported. We will also look at reporting changes announced by the Financial Accounting Standards Board. more

Aug 8, 2016 10:44 PM People and Business

A reader recently wrote in asking if someone could explain reconciliation between net income and cash flow from operations. Rob's explanation was so thorough that I thought it was best published as 'an article' than simply a commentary. more

Aug 2, 2016 12:05 AM General Ledger 1 Comments

This article, that concludes our Inventory Accounting mini-series, provides a comparative analysis of Average-cost, FIFO, and LIFO inventory cost valuation methodologies. more

Jul 18, 2016 9:15 PM General Ledger

We step away from our mini-series, "Inventory Accounting 101," to discuss the proper identification and nomenclature associated with the equity section of your balance sheet. more

Jul 11, 2016 9:02 PM General Ledger 3 Comments

Inventory costing typically uses one of three methods, "Average Cost", "First-In, First-Out" or "Last-In, First-Out". In this article we will look at these three concepts and focus on 'Average Cost', next time we will look at FIFO and LIFO. more

Jul 5, 2016 12:58 PM General Ledger

Believe it or not, the concepts of 'inventory valuation' really stretch back to the bookkeepers working for both shippers (including Her Majesty's Royal Mail Ships) and Lloyd's of London (the first insurer of merchandise). more

Jun 27, 2016 10:39 PM People and Business

Today’s article discusses the instances in which a partnership or limited liability company treats its partners or members as employees even though tax law prohibits this practice. more

Jun 20, 2016 8:36 PM People and Business 1 Comments

In this article we will examine the topic of 'revenue' and also look at posting income in Zoho Books for our study scenario. more

Jun 13, 2016 9:57 PM General Ledger

This article will examine one of the transactions impacting the Profit and Loss statement from our scenario upon which this series is based. more

Jun 6, 2016 11:09 PM General Ledger

This article provides examples regarding the posting of accrual entries for incurred payroll and payroll-related costs not yet processed using your payroll program. more

May 30, 2016 8:57 PM Payroll and Merchant Services 1 Comments

Generally Accepted Accounting Principles should always be considered, since at some level, they are universal to recording accounting transactions and preparing financial statements. more

May 23, 2016 10:00 PM General Ledger 1 Comments

Assets or Liabilities, that is the question? Debit this, Credit that. In Part 2 of this mini-series we will learn these fundamentals of accounting and see how we can apply them using Zoho Books for our new 'dongle-making' business. more

May 16, 2016 9:02 PM General Ledger

The importance and benefits of establishing an LLC can be completely overshadowed by the negligence of not making the correct entity taxation election. This article is focused on assisting you in making the correct election. more

May 9, 2016 8:47 PM People and Business

This article begins a new mini-series on basic accounting. While we will focus on use of Zoho Books, the concepts apply regardless of the accounting software you might be using. more

May 2, 2016 9:56 PM General Ledger 1 Comments

In this 2nd part of our first real content mini-series for Accounting Tips Tuesday, we will look at little more closely at making the decision about configuring the legal structure of your business entity. more

Apr 25, 2016 8:49 PM People and Business 5 Comments

Choosing the proper business entity type is a critical and significant business decision that can have major implications on the business. Rob Shaff breaks down the options in this 2 part series. more

Apr 18, 2016 9:05 PM General Ledger 2 Comments

This article introduces a new series called 'Accounting Tips Tuesday' brought to you by Zoho Books which will cover a variety of accounting and bookkeeping basics beneficial for Small Business users as well as Consulting Professionals. more

Apr 11, 2016 10:17 PM General Ledger 2 Comments

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