Bookkeeping

Depreciation Recapture: Definition, Calculation, and Examples

This results in a depreciation rate of 20% ($800 / $4,000). It is based on what a company expects to receive in exchange for the asset at the end of its useful life. An asset’s estimated salvage value is an important component in the calculation of depreciation. Different companies may set their own threshold amounts

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Double-Entry Bookkeeping Guide for Small Businesses

This system is similar to tracking your expenses using pen and paper or Excel. Double-entry bookkeeping’s financial statements tell small businesses how profitable they are and how financially strong different parts of their business are. When you pay for the domain, your advertising expense increases by $20, and your cash decreases by $20. Businesses are

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What Does a Controller Do for Small Businesses?

Nonetheless, small businesses — like all businesses — are still responsible for executing all of the core bookkeeping, accounting and financial functions essential to the enterprise. This typically manages all the Accountants and Clerks, assigning duties and balancing workloads. In addition, the Controller is the guardian of the balance sheet, and takes responsibility for month

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