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All Corporate Finance, Accounting & Other Topics On Proformative

Member's Profile
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 property tax. If we don't pay property tax to the county how can there be a property tax...
Anonymous Member
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 job. Is the 2019 paid repair expense appropriately accrued in 2018? Or should it...
Anonymous Member
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 are not going well. I have applied to several tax entry level positions in public...
Member's Profile
Billy Bob
Title: CEO
Company: BillyBobBob's LLC
(CEO at BillyBobBob's LLC) Hi! I started business late last 2018 and I missed the Jan 31st 1099-misc deadline. I have 2 contractors (1 an S-Corp and 1 a Sole-proprietor) that I need to report payments on. How would I go about filing it late in New York either by e-file or by mail? Thanks in advance....
Member's Profile
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 classified as other income on the P&L. Is that the case?
Anonymous Member
Anonymous
(Strategic program manager) Could anyone recommend a good way to do cash reporting out of Quickbooks by department and class?
Member's Profile
Ravi Ramcharan
Title: CFO
Company: self
(CFO at self) Hello all, What would be your advice to the owner of a small hardware store that has no cash, no access to credit facilities and who is owing suppliers but can't pay. The suppliers are now demanding cash in advance payments. Inventory is stagnant as he can't replenish...
Member's Profile
ann smith
Title: Owner
Company: Smith and Associates
(Owner at Smith and Associates) I have verifiable information regarding the founder of a technology company who has engaged in highly unethical, potentially fraudulent business practices and has been able to operate under the radar for several years. The company he founded is backed by a private equity...
Anonymous Member
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 deferred revenue, A/R, and A/R Unbilled for the portion not yet billable. Revenues would be...
Member's Profile
Nandan Mv
Title: consultant
Company: Independent
(consultant at Independent) Like to understand if there are areas you have used RPA or AI or are in process of doing so. I know a few: - Invoice processing - AP 3-way matching - Vendor Onboarding - Financial closing & consolidation - Account, bank, & inter-company reconciliation Here is...
Anonymous Member
Member's Profile
Robyn Pinto
Title: Controller
Company: Sylvan
(Controller at Sylvan) We are in the process of onboarding subcontractors that are located in India, Philippines, and Canada. All work will be completed in their resident country and we will transfer the money to their accounts monthly for services. I have sent them the W8EIC form and I wanted to...
Anonymous Member
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 opinions from others outside of who I have immediately available. This company sells...
Member's Profile
Ravi Ramcharan
Title: CFO
Company: self
(CFO at self) Dear All, I know it is common knowledge that a company should have some debt. Is it because of only the tax benefit? What about if a company has no debt but abundant cash reserves and healthy cash flow? There is a family company that I do work for. They only have 3...
Anonymous Member
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 had the opportunity to take a deduction not directly related to the product sold. In the...
Member's Profile
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 account. The only expense he has is a loan repayment and some bank fees. Those are the only...
Member's Profile
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 every month. How do i handle these intercompany transactions? Do i continue using the...
Anonymous Member
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 they are direct cost (so it would fall under contra-revenue or COGS)?
Anonymous Member
Anonymous
(Owner) I am looking to do a startup for a new LLC for a services business with most of the revenue earned via my website that is still under development. I reside in Ohio and will have a home office here as a single person LLC. Since I am starting this business from home until I...
Member's Profile
ana bana
Title: compliance manager
Company: LLC
(compliance manager at LLC) When filling out of W-8BEN-E there should be the beneficial owner and disregarded entity (if applicable) identified. Parent company is investing in real estates and is holding 94 %(voting and capital rights) of subsidiary entity, which is a building of apartments. Which one...