I'm looking for a little help with chart of accounts for a small courier service company.
Is there anyone who has a sample chart of accounts for a small courier service business and is willing to share it?
Hello I know that the "Depreciation" Journal Entry is normally done at closing once in a year hence the name"annual depreciation"
Could we pass a general entry for depreciation at the end of 1 month?
Meaning are we allowed to spread depreciation over 12 months?
Is it appropriate to include an opening balance for accumulated depreciation at the official commencement date of a small business?
Eg. A business begins actual operations on 1 January 2016 before then it is in it formation stage.
I know you can't depreciate fixed assets before the official...
I have this question concerning this DJ business(sole proprietorship)
This sole proprietor ordinarily lives in Town A but has to travel to Town B weekly to take charge of business(play at parties and other such functions) and when in Town B for business he stays in a...
I have loans from 5 different friends for a start-up and I am just listing my Chart of Account(in Wave) would it be OK if I set up Loan Accounts for each one of them..like:
Loan – Abigail
Loan – Ben
Loan – John
I must add that WAVE doesn't allow for sub-accounts
I have an assistant/apprentice/intern for a start-up business that I pay some allowance or stipend to cater for their expenses.
HOW BEST CAN I LABEL THIS EXPENSE
Would it be OK to Add an expense account to my Chart of accounts and call it "STIPEND"
I want to enter transactions for a service provider business for the month of October,in order that we can generate our first set of reports(financial statements) for the month of October 2015
How do I treat expenses and income earned/incurred a couple of months ago i.e...
How do I record these things in a typical accounting system:
1.Proformas from prospective clients;
2.Purchases from grocery stores for which debit cards are used to make payments;
3.Purchase discount received from suppliers for purchases