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Anonymous Member
Anonymous
(Freelancer) I'm not sure how to explain this, so I'll try my best. I'm self-employed. I do freelance work for a website. I don't know how to pay myself though. I mean I don't know how to make the journal entries for my accounting books. So far my books just look like a fancy checkbook...
Anonymous Member
Anonymous
(Manager of Accounting) We have an international subsidiary with a cost plus agreement. The subsidiary does not generate any revenue and is established only to handle the wages and employee benefits of our international employees in that country. We have a cost plus agreement between our US parent...
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V TEK
Title: International controller
Company: None
(International controller at None) Hi all How the capital movement should take place between branch and the parent entity? Here I am referring to best practices when it comes to excess cash blocked in the branch? Thanks
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A B
Title: Accountant
Company: ---
(Accountant at ---) I have been going rounds with this and need some help to make sure that my books are accurate. For simplicity's sake, my yearly property tax bill is 12k. Our state allows us to pay in 3 installments, which we do. This bill was entered as 3 separate invoices in Sage 300,...
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Ron Rochester
Title: Account Manager
Company: R Rochester Business Services
(Account Manager at R Rochester Business Services) Can I purchase items into inventory and expense over time, when using a cash basis accounting system. We purchase larger than needed quantities to get bulk discount pricing. Do I have to expense at time of purchase, or can I expense as items are used? This is not a major...
Sima Singh
Title: Software Strategist & Digital Marketing ..
Company: Technology Counter
(Software Strategist & Digital Marketing .. at Technology Counter) What other online accounting systems are used besides the double entry bookkeeping system?
Anonymous Member
Anonymous
(Controller) Hi, hopefully it is a quick question. Our company just started to do revenue sharing with a customer, we are paying the customer 80% annual fee and 80% interchange fees based on the information that we have received. What is the proper way to book the payment to the...
Anonymous Member
Anonymous
(n/a) Hello all, I have a startup company that I am working through and I had a couple bookkeeping questions. It is a very small startup, $20K income/expenses per year. We buy materials and create products which we either sell or let another company rent them out. How would the...
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Jana Welsh
Title: Accounting Manager
Company: Elementum 3D, Inc.
(Accounting Manager at Elementum 3D, Inc.)
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Shannon Ortiz
Title: Accounts Payable
Company: Viacyte
(Accounts Payable at Viacyte) We have just implemented bill.com - previously, as AP, I always selected all invoices and cut checks to be signed. With bill.com, since you are assigning the Authorized Users for payments, how does your AP team select bills? Currently, my check signers are selecting the...
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Elena James
Title: Business Analyst
Company: https://ebetterbooks.com/
(Business Analyst at https://ebetterbooks.com/) What is the best accounting software that can help me to manage all my monthly transactions?
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Russell Lawler
Title: Looking
Company: Looking
(Looking at Looking) Hello! I am a new auditor. I had a general question about auditing: When auditing an entity, I guess there aren't requirements for HOW MUCH workpapers you need? Do you basically just get as much info and do as much testing as you have to, in order to get enough assurance?...
Anonymous Member
Anonymous
(Accountant) I work in the USA for a manufacturing subsidiary of a company based internationally(IFRS) and there seems to be some disagreement about the interim period reporting for our absorption accounting. We have assigned costing rates for both our labor and overhead costs....
Anonymous Member
Anonymous
(Global Accounting Manager) Hi all, We currenlty use Oanda, FX currency converter API for our month end close. We are running into some issues with the rates provided by Oanda. The rates provided for a few currencies were not correct for last month. Anyone else is experiencing rate issues provided by...
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Brenda Sikkema
Title: Director of Finance
Company: Skybeck Construction
(Director of Finance at Skybeck Construction) My boss is a chairman of a non-profit here in Austin, TX. It's called EO Austin, and it's a membership organization for entrepreneurs. He is wondering if the financials need to be audited yearly because they are a non-profit? Or can they be reviewed or just done in house...
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Howard Smolin
Title: Accountant
Company: HJS & ASSOC
(Accountant at HJS & ASSOC) Revised form 941-Employee Retention Credit My client has a restaurant/Deli which operated during Q3 2020 under a 50% occupancy order mandated by the State Government. Does this qualify as a partial suspension of operations and therefore eligible for the employee retention...
Anonymous Member
Anonymous
(CONTROLLER) Hello, I was wondering if I can seek some guidance from more experienced accountant here. So We have calculated that our revenue for Sept is around 500k. However, on 10/14, a customer disputed all of their invoices through their bank (credit card issuer) - around 45k....
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Aftab Ali
Title: Manager Finance
Company: Confidential
(Manager Finance at Confidential) I have a scenario in which the company A is selling its spare parts inventory on the value that is in the books to company B. Company B will maintain the inventory and after 5 year Company A will buy back the remaining inventory. The price of inventory will increase by 10...
Anonymous Member
Anonymous
(Owner/Small Business Accountant) One of my clients is providing a small amount of free labor for one of their customers. They are recording a liability for the portion of the labor promised, but not yet delivered to the customer, with a corresponding expense. What should the entry be when that labor is...
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jake lenshaw
Title: Manager
Company: N/A
(Manager at N/A) hey guys i'm looking for the best way to handle some more complex account tasks that are not my specialty. Can anyone recommend a good solution. I was looking into theaccountinganalyst.com has anyone used them before or have any other ideas?