Recent content by Asha Kanta Sharma

Seems correct....

Try evaluating ZipBooks, SlickPie, Wave Accounting, GunCash, TurboCASH, xTuple, Akaunting, CloudBooks, Zoho,

When the company receives Monthly Invoices it needs to be debited and Cash/Bank Needs to be credited.

These are pre-incorporation expenses needs to be debited. This is a Balance Sheet item and should be written off to Profit and Loss Account on equitable basis over a period of time, say 5, 10 years.

Well...I started my career working as an intern for one year where I learned most of the practical aspects of Accounting, Finance, Taxation, Statutory Compliances which is helping me till now and it is having huge impact in later part of my career now...Try getting how things are bing done and...

Only Credit Sales should be taken into account while calculating if we want to get nearest actual data..

Yes...when we pay for more then one financial year it is apporotioned proportionately over the period of benefits derived for such periods only.

You need to have software which will take care of all the inventory level accounting. All Raw-Materials Purchased will be an expenses and when these are procesed to a finished product, you have to reduce the all materials consumed and create/increase the Qty of Finished Products. Selling them...

Cas reciept in Advance will always be considered as an "Advance" which will appear in Balance Sheet. Unless Goods/Service are not discharged revenue will not arise.

Actually, nobody can rely on these Financial Statements as many times management carries out Windows Dressing to avoid or avail something. Many loss making companies are working perfectly fine for years.

https://www.accountingtools.com/articles/what-is-cost-accounting.html

Try clearing your concept with Journal Entries. If you know Journal Entries for any transactions you can do anything in Accounting and Finance.

Dividend cover, otherwise known as dividend coverage ratio, indicates an organization's capacity to pay dividends from the profit attributable to shareholders. In other words, it indicates the number of times that a company can pay dividends to shareholders from net income.

Do what you are passionate about.

Quickbooks support sucks but I love Quickbooks over any other accounting software.