Author: David J Hoare MSA
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Bookkeeping – Payroll Cycles (Lesson 32)
Similar to the bookkeeping cycles, payroll cycles have many frequent activities, fewer incremental requirements and one important end of the year report. This lesson explains these respective cycles and how they tie together for the final year-end report. Other lessons in this section of the website go into some details about various functions of payroll…
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EBITDA
EBITDA is an acronym for Earnings Before Interest, Taxes, Depreciation and Amortization. The value is generally known as operational profit before capital expenditures and tax obligations.
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Bookkeeping – A Simple Payroll (Lesson 31)
In Lesson 30 I explained the payroll account structure using parent-child accounts. This lesson is a part of the daily operations section of bookkeeping illustrating an actual payroll entry. If you haven’t done so yet, please read: Payroll – An Introduction.
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P&L Statement – Best Format for Salons
An owner of a hair salon needs a well organized and properly formatted profit and loss statement (income statement) to properly evaluate performance. There are multiple presentation formats used in the service industry, but after 25 years of accounting I advocate for the functional presentation arrangement. This form of a profit and loss statement allows…
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Bookkeeping – Payroll Structure (Lesson 30)
Every bookkeeper needs to understand how to process a payroll. This is one of the many regular tasks in the bookkeeping cycle. In this lesson I’m going to illustrate a payroll structure as it pertains to the chart of accounts.
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Debt or Equity in Small Business – Fundamentals
Small business books and manuals explain the formula used to determine whether additional debt increases the return for investors commonly known as return on investment (ROI).
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Job Descriptions
Job descriptions act as the framework for the relationship between the employer and employee. It is the starting point for the human resources officer in addressing proper matching of needs and resources. If properly written, the description acts as reference material for recruiting the best candidate, gauges job performance, identifies the career path and reduces risk of…
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Bookkeeping – Accounting Cycles (Lesson 29)
The bookkeeping cycle is like a huge giant clock with several dozen gears from a multiple cog gear rotating the most frequently turning cog cascading into the one large gear that once turned changes the timer one year forward. The bookkeeper’s job is to make all the gears click and keep the system lubricated. At the…
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Bookkeeping – You are a Bookkeeper Now (Lesson 28)
There really is no undergraduate degree program for bookkeeping. Nobody has a college diploma from an accredited institution for bookkeeping; accounting yes, bookkeeping no.
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Bookkeeping with QuickBooks (Lesson 27)
There are multiple positive benefits of QuickBooks for the business and directly for the bookkeeper too.