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Q&A Forum

Tripactions and integration with HR system and Expense reimbursement system

Hello, Currently we are trying out whether (a corporate travel booking website) is a good option for employees to book travels and also integrate with our HR system (B...
5 Views | 0 Answers/Comments

CapEx and Depreciation

Henry Kusuma
Title: Functional Consulting
Company: Toba Technology
(Functional Consulting at Toba Technology)
Hello. First of all sorry for my bad english. Here I would like to ask some help from you guys regarding capitalization cost and how to depreciation it. Lets say, company A have an asse...
34 Views | 1 Answers/Comments

Help With Journal Entries

Deeire Denia
Title: Accountant
Company: RETR INC
(Accountant at RETR INC)
My company pays 100% of our employees' legal shield and supplemental life insurance up front and we are refunded by the employees during the month. What would the appropriate journal en...
66 Views | 2 Answers/Comments

Hosting QB in Cloud

Diana Dickson
Title: Bookkeeping executive
Company: DD LLC
(Bookkeeping executive at DD LLC)
Hi All, I've posted some questions on here before and had some great help. I'm a IT tech who has been tasked with getting an accounting firms QB data into the cloud. They do not want...
41 Views | 1 Answers/Comments

Equivalent English language accounting term

Mary Breen
Title: Corporate and financial translator
Company: Freelancer
(Corporate and financial translator at Freelancer)
I would be grateful if someone could provide me with the English term for this accounting concept I have to translate from French: The firm is a transport operator who receives their re...
22 Views | 0 Answers/Comments

Balance Sheet for a company financed 100% by debt

(MBA Student)
If a firm is 100% financed by debt, where would the net income (retained earnings) from the firm's income statement be shown on the balance sheet? In other words, how are retained earn...
92 Views | 2 Answers/Comments

PeopleSoft FSCM Consultant for 20 years, now helping extremely small businesses become Cloud ERP Customers

(VP of Sales and Delivery)
I'm looking for your recommendation based on the clients I'm currently assisting in designing an optimal solution for fast or slow growth thats affordable and can handle their basic req...
34 Views | 0 Answers/Comments

Can this obligation be integrated under IFRS15?

Somtimes, a contract for plant facilities includes an operation service. So it can be divided two obligations, construction and operation. And usually, plant facilities is highly comple...
44 Views | 0 Answers/Comments

Old outstanding credits on Accounts Receivable

Our company has about $24,000 worth of old credits that are sitting in the over 120 day column on our accounts receivable. We would like to clean up these old credits, but not sure whe...
59 Views | 1 Answers/Comments

effect on accounting

kivi poteat
Title: staff accountant
Company: 1982
(staff accountant at 1982)
I am a recent graduate and a staff accountant at a new car dealership. I noticed to day that the parts department is debiting purchase discounts to pad their inventory. I believe th...
56 Views | 1 Answers/Comments

What is my job title ?

(accounts assisstant)
I recently started a job as a admin/accounts assistant in a new accounting firm, however as the months have passed they have decided to hire a few more bookkeepers and have me over se...
35 Views | 0 Answers/Comments

Payment posted to AR but deposited in the following month, how to treat?

Title: Accounting Manager
Company: MCS
(Accounting Manager at MCS)
Hello, I have a scenario where payments were posted to AR at the end of the month but payments were not deposited until the following month. In order for AR Aging to balance to GL I ...
61 Views | 1 Answers/Comments

SEP IRA Balance in Quickbooks

So I had a sole proprietor and was making SEP IRA contributions, but everything was run through my personal account.  I switched to an s-corp.  Do I need to 'transfer' the balance of ...
44 Views | 0 Answers/Comments

Interest expense causing imbalance

Arl Boyd
Title: Owner
Company: Frozen Yogurt
(Owner at Frozen Yogurt)
I am sure it is an easy answer but I just can't figure out what i am missing? Thank you! Trial Balance Notes Payable ($9,800) Interest expense $100 Cash $9,700 ...
105 Views | 3 Answers/Comments

Inventory Supplies Policy

(Corporate Controller)
Hello, I'm new to this forum and have a question about how those of you in manufacturing or other similar industries treat your inventory policy for materials and supplies. I'm relat...
1705 Views | 1 Answers/Comments

How do big tech companies conclude that internal use software development is expensed, not capitalized?

Tech companies such as Google, Facebook, Snap, Amazon, Spotify, Dropbox, Box, Pinterest, Lyft state in their 10k that software development costs are immaterial, so they expense and don'...
69 Views | 0 Answers/Comments

how to recognize termination benefits (commitment fees) under these special conditions?

(AR Accountant)
A company offering its service to clients by time-specified contract and non-time-specified contracts. if that service cancelled either as a result of client asking or; accumulation of...
32 Views | 0 Answers/Comments

Getting back into the game

Laura Gray
Title: Tax Preparer
Company: Self-Employed
(Tax Preparer at Self-Employed)
I currently own my own tax business due to taking it over when my mother in law passed away last year. However, my background is Accounting, including I have my Masters in Accounting. ...
30 Views | 0 Answers/Comments

Outsourcing Your Accounting Services can Make Your Business Better

Blair Illiano
Title: N/A
Company: N/A
(N/A at N/A)
Running your own in-house accounting services may have worked well for your business so far, but if you’re looking to cut some costs and save some money, then outsourcing your acc...
25774 Views | 4 Answers/Comments

How do cell phone providers account for the cost they pay on a new customer's behalf to early term their old contract?

Marcy Camper
Title: SEC Reporting Analylyst
Company: Atlas
(SEC Reporting Analylyst at Atlas)
I'm trying to figure out if we can capitalize costs paid on behalf of a new customer to terminate their old provider contract. To me, this falls under the category of costs to acquire ...
34 Views | 0 Answers/Comments

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