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In payroll, this is the amount of adjustments to an employees paycheck to determine the final federal income tax to withhold from each paycheck. An employee prepares a Form W-4 to determine the number of allowances in calculating the withholding amount. An allowance is similar to the number of dependents in your household. Single equals one, married equals two and add one for each child you care for in your household.

Bookkeeping – Tracking Returns and Allowances (Lesson 39)


Not every customer is satisfied with the product they purchase.  The old saying of ‘You can’t please everyone all the time’ is true.  This is reality and business management must accept this basic principle.  What is important is the trend [...]

Construction Accounting Terminology


In construction accounting accountants and bookkeepers use certain terms and there are distinct meanings associated with these terms.  This article is designed to introduce beginner accountants and contractors to these terms from the perspective of [...]