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Q&A Forum

Are Non-Profit Tax Exempt Churches Required to Pay Property Tax on Lease Equipment?

Brenda Ladd
Title: Admin/Finance Assistant
Company: GracePoint Fellowship
(Admin/Finance Assistant at GracePoint Fellowship)
We have a copier lease and they sent us a bill for property tax. I have read another person's similar question on this site but our situation may be different. We do not pay sales or ...
7 Views | 0 Answers/Comments

Can I accrue a 2019 repair expense for a 2018 job in 2018?

Anonymous
(Accountant)
We installed wood floors in 2018, but discovered a defect in the wood and had to replace the wood in Jan 2019. I feel that the repair/replacement of product is part of the original 2018...
14 Views | 1 Answers/Comments

How to get a position in tax accounting?

Anonymous
(Accountant)
I’m an accountant with 5 years of GL accounting experience in energy industry. I just got my CPA license in Texas, last November. I have been trying to get a job in Tax but things ar...
17 Views | 0 Answers/Comments

How do you account for a received tax credit?

DAVID REITER
Title: Controller
Company: x
(Controller at x)
Hello, We are anticipating receiving a payment from New York State for the Excelsior Tax Credit (https://www.tax.ny.gov/pit/credits/excelsior.htm) I assume this would be classifie...
18 Views | 0 Answers/Comments

Booking multi year SaaS Contract

Anonymous
(CFO)
I just joined a young SaaS startup as head of finance. We have recently signed a few multi-year enterprise contracts. I would like to book the full value of the 3 year contract to def...
36 Views | 0 Answers/Comments

Do you consider Open Purchase orders to calculate ebitda ?

Anonymous
(Accountant)
52 Views | 1 Answers/Comments

Moving from Non-Inventory to Inventory, Insight Please!

Anonymous
(IT Director)
IT side here, but I'm driving a project that is creating accounting process changes, so I need to be somewhat knowledgeable for my own purposes and I would like to have perspectives and...
34 Views | 0 Answers/Comments

Vendor Fees?

Anonymous
(Controller)
The companies I have worked for have always been on the receiving end of fees from our customers for doing something incorrectly (wrong pallets, late delivery, ect), but I have never ha...
59 Views | 1 Answers/Comments

Creating an Income Statement with only 3 transactions per month

Alexis Huck
Title: bookkeeper
Company: SXT
(bookkeeper at SXT)
A friend of mine is trying to create an income statement for his business. The only income His business has coming in are distributions he receives from his joint venture business accou...
56 Views | 1 Answers/Comments

Do I invoice and journal entry for intercompany transactions?

Kristen W
Title: Controller
Company: Pro Airways
(Controller at Pro Airways)
We have two separate companies that are owned by the same person and work under the same building, currently the Real Estate Management company is invoicing the airline company for Rent...
69 Views | 1 Answers/Comments

Amazon Seller fees accounting treatment/classification.

Anonymous
(Controller)
What is the accounting treatment, specifically, for Amazon Seller fees? Is it a contra-revenue, part of COGS, or SG&A expense? I've seen different answers during my search but I think t...
48 Views | 0 Answers/Comments

Food Processing

Ravi Ramcharan
Title: CFO
Company: self
(CFO at self)
Hello All, This is my first post here and I must say this is a wonderful and very knowledgeable community! One of my clients buys raw fish and he then prepares fillets. This is do...
80 Views | 3 Answers/Comments

Debt Collection

Anonymous
(Accountant)
We had a sales employee on their own accord, threaten one of our customers that we'd send their debt to a collections agency in the next 7 days, when currently we don't have any intenti...
52 Views | 0 Answers/Comments

1099 Software

D M
Title: accounting manager
Company: SaaS
(accounting manager at SaaS)
Looking for recommendations of 1099 software with e-file option. Thanks!
46 Views | 0 Answers/Comments

Accounting for joint development agreements

Anonymous
(Director of Finance)
Our startup entered into a joint development agreement with a large company. The company will pay milestone payments to cover a portion of our R&D expenses. The R&D costs associated wit...
41 Views | 0 Answers/Comments

Should freight-out be considered COGS or Selling Expense?

Anonymous
(Accounting Manager)
Our manufacturing company pays freight-out to logistics providers to ship products from our warehouses to customers. We do not charge freight-out in our customer invoices. From what ...
295 Views | 4 Answers/Comments

Marketing Campaigns that include some revenue

Anonymous
(V Finance)
Our company will engage in marketing campaigns that may include the sale of our product, the product could be a co-branded product or our regular product sold at a deep discount. The i...
29 Views | 0 Answers/Comments

Please Help Me Calculate PTO for Employees Who Start Midway Through the Accrual Period

Ted Emens
Title: Occupational H&S Coordinator
Company: Snyder Livestock Company, Inc.
(Occupational H&S Coordinator at Snyder Livestock Company, Inc.)
Please help me understand how to accurately calculate PTO for the following scenario: An employee is eligible for: 32 hrs PTO after the 1st year of service 64 hrs of PTO after the ...
29 Views | 0 Answers/Comments

Consolidating financial statement

Leo Wang
Title: Accountant
Company: ICZoom Inc.
(Accountant at ICZoom Inc.)
Hi, Our structure is with a Cayman Island holding company as the parent company. Under it, there are three 100%-owned companies. When I do consolidated financial statement, do I simp...
60 Views | 2 Answers/Comments

Upgrade from Concur Standard to Concur Professional Version

Anonymous
(manager)
Has anyone had the experience of upgrading from Concur Standard to Concur Professional Version? I am particularly interested in: 1. time and effort in upgrading? 2. benefits on Concu...
42 Views | 0 Answers/Comments

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