Accounting Services
Balance Sheet Bookkeeping offers tailored bookkeeping services to ensure smooth cash flow, track patient payments, and manage expenses. We’ll handle your financial health so you can focus on healing your patients and expanding your practice. Helping Chiropractors, Massage Therapists, and Regenerative Medicine businesses. Running a plumbing business involves managing materials, service calls, and fluctuating customer […]
Deferred Rent for ASC 842 Explained w Examples, Entries
One such ratio is the accounts receivable turnover ratio, which measures how efficiently a company collects its receivables. A higher turnover ratio indicates that the company is effective in collecting rent, translating to better cash flow and reduced risk of bad debts. Conversely, a lower ratio may signal collection issues, necessitating a review of credit […]
RENT PAID IN ADVANCE: JOURNAL ENTRIES WITH EXAMPLES
When cash payments in a period were greater than the expense recognized, prepaid rent would be capitalized on the balance sheet with a debit balance. This was considered a prepayment, which is an asset, due to more rent being paid for than rent expense incurred. For an extensive explanation of prepaid rent and other rent […]
8 Best Practices to Improve your Accounts Receivable Management
A good accounting system with tools for managing invoice accounts receivable can help you get paid faster, so you can focus on running your business. The easiest way to deal with this is to write off the debt as uncollectable. When you know that a customer can’t pay their bill, you’ll change the receivable balance […]
US Consumption Tax vs Income Tax Reform: Details & Analysis
Our revenue and distributional estimates do not include the impact of the proposed tax changes on non-filers. Replacing the current income tax system with a consumption tax would create transitional effects for people currently holding capital by affecting asset values. On the one hand, repealing the income tax would increase the after-tax return to capital, […]
