Bookkeeping – Ram Anand Builders

Units of Production Depreciation Method with Formula in Excel

October 17, 2023

By Ramanand

Bookkeeping

You can’t simply pre-determine an automated entry to account for depreciation as you would with timeline based depreciation methods since you cannot predict the level of production for future years. This method is also not accepted for tax purposes so using units of production to determine depreciation will need a conversion ...

Is Accumulated Depreciation a Current Asset?

July 3, 2023

By Ramanand

Bookkeeping

Accumulated depreciation is used to calculate an asset’s net book value, which is the value of an asset carried on the balance sheet. The formula for net book value is cost an asset minus accumulated depreciation. Watch this short video to quickly understand the main concepts covered in this guide, including ...

What Is Accumulated Depreciation and How Is It Recorded?

June 27, 2023

By Ramanand

Bookkeeping

Each period in which the depreciation expense is recorded, the carrying value of the fixed asset, i.e. the property, plant and equipment (PP&E) line item on the balance sheet, is gradually reduced. Accumulated depreciation is recorded in a contra asset account, meaning it has a credit balance, which reduces the gross ...

Software for Trucking, Broker, LTL, Container, Trailer Tracking and Local Operations

February 25, 2023

By Ramanand

Bookkeeping

Our services help small business owners manage their finances, save for expenses, monitor cash flow, and more. FreshBooks is a simple and affordable option for small trucking businesses. With its user-friendly interface and automated invoicing capabilities, FreshBooks can help businesses streamline their financial management process. In addition to invoicing, FreshBooks also ...

Accounts Payable: Definition, Example, Journal Entry

July 15, 2022

By Ramanand

Bookkeeping

As an accountant, you may have to crunch numbers, but those are not the only skills needed. It is important to possess sharp logic skills and big-picture problem-solving abilities, as well. While bookkeepers make sure the small pieces fit properly into place, accountants use those small pieces to draw much more ...

hubdoc com Reviews Read Customer Service Reviews of www.hubdoc.com

June 17, 2022

By Ramanand

Bookkeeping

You waste more time just trying to use Hubdoc as design. It’s been six months and they still have not fixed issues with the 15 tickets open. Csv which is great for manual importing into Xero Ledger. People who write reviews have ownership to edit or delete them at any time, ...

What Are the Types of Capital Expenditures CapEx?

June 15, 2022

By Ramanand

Bookkeeping

While depreciation expense reduces the carrying value of fixed assets (PP&E) on the balance sheet, there is no actual cash outlay. Capital expenses are long-term investments you make to improve your company while operating expenses are costs you incur to keep your business operational. Both repairs and maintenance are considered operating ...

Depreciation Expense Journal Entry Example

May 5, 2022

By Ramanand

Bookkeeping

There are different methods of depreciation that can be used to calculate the depreciation expense, such as straight-line, declining balance, and units of production. Each method has its own advantages and disadvantages, and companies can choose the method that https://thecupertinodigest.com/navigating-financial-growth-leveraging-bookkeeping-and-accounting-services-for-startupsas-a-startup-owner-you-know-that-the-accounting-often-receives-less-attention-than-immediate-priorities-produc/ best suits their needs. Some assets, such as machinery used in ...

ACCOUNTING SUPERVISOR 2 COMPTROLLER PHOENIX, Arizona, United States

April 14, 2022

By Ramanand

Bookkeeping

Whether you’re interested in working with us, need an expert opinion – or just want to find out more about what we do, we’d love to hear from you. We works well for any business wanting to streamline their back office. Our Business & Finance Consulting professionals have an underlying knowledge ...

What Is Escrow? Escrow Definition And How It Works

April 12, 2022

By Ramanand

Bookkeeping

In contrast, an escrow agent’s duty is toward both parties of a transaction, and they are tightly bound by the terms of the escrow agreement. An escrow agent is a person or entity that holds property in trust for third parties while a transaction is finalized or a disagreement is resolved. The role ...