A home warranty can be purchased at any time and does not need to be part of a home sale, however. If a home warranty is part of the home sale, it’s included in the closing costs. Whether it’s a part of the buyer’s or the seller’s costs depends on your purchase contract and local […]
A liability is something that a person or company owes, usually a sum of money. Liabilities are settled over time by the transfer of economic benefits such as money, goods, or services. Asset accounts are categories within the business’s books that show the value of what it owns.
Mr. Joseph is to be paid outstanding wages […]
However, there is one other critical stage to account for security deposits. As mentioned, in some cases, the lessor will not refund the amount in full due to compensation for damages. Therefore, it reduces assets for the lessee and an addition for the lessor. Overall, a security deposit is an upfront payment made by a […]
When it’s finally time to audit all of your transactions, bookkeepers can produce accurate reports that give an inside look into how your company delegated its capital. The two key reports that bookkeepers provide are the balance sheet and the income statement. The goal of both reports is to be easy to comprehend so […]
However, you will find that there are a few virtual accounting companies that offer the same level of service yet the cost difference is enormous. Don’t hesitate to shop around in order to find a service that is within your budget. Even if you aren’t planning on growing any time soon, you need to have a sense […]