Search results “All reconciling items in determining the present”
How to perform a bank reconciliation
Your cash journal $ and your bank statement $ don't match? A bank reconciliation is the way to go! Review how a bank reconciliation is performed and learn about what you might consider when auditing a client's bank reconciliation.
Views: 431823 AmandaLovesToAudit
IAS 21 The Effects of Changes in Foreign Exchange Rates
http://www.ifrsbox.com This is the short summary of IAS 21 The Effects of Changes in Foreign Exchange Rates. In today's world, the entities carry out their foreign activities in 2 ways: 1. They have some transactions in foreign currencies, or 2. They Have a foreign operation. An entity can also decide to present its financial statements in some foreign currency other than their own. The objective of IAS 21 is to prescribe • How to include foreign currency transactions and foreign operations in the financial statements of an entity; and • How to translate financial statements into a presentation currency. Functional currency is the currency of the primary economic environment in which the entity operates. It is the own entity's currency and all other currencies are "foreign currencies". The primary economic environment is normally the one in which the entity primarily generates and expends the cash, but more factors needed to be considered, such as the currency in which the sales prices are denominated, etc. Presentation currency is the currency in which the financial statements are presented. How to report transactions in FUNCTIONAL CURRENCY Initially, all foreign currency transactions shall be translated to functional currency by applying the spot exchange rate between the functional currency and the foreign currency at the date of the transaction. Subsequently, at the end of each reporting period, you should translate: • All monetary items in foreign currency using the closing rate; • All non-monetary items measured in terms of historical cost using the exchange rate at the date of transaction (historical rate); • All non-monetary items measured at fair value using the exchange rate at the date when the fair value was measured. All exchange rate differences shall be recognized in profit or loss with some exceptions. How to translate financial statements into a PRESENTATION CURRENCY When an entity's functional currency is NOT the currency of a hyperinflationary economy, then an entity should translate: • All assets and liabilities for each statement of financial position presented (including comparatives) using the closing rate at the date of that statement of financial position. • All income and expenses and other comprehensive income items (including comparatives) using the exchange rates at the date of transactions. All resulting exchange differences shall be recognized in other comprehensive income as a separate component of equity. For more information and other IFRS materials, please visit http://www.ifrsbox.com
Views: 60402 Silvia M. (of IFRSbox)
Excel Magic Trick 1128: Aging Accounts Receivable Reports On Multiple Sheets With Array Formula
Download Excel File: http://people.highline.edu/mgirvin/ExcelIsFun.htm Playlist for Array Formula Basics Videos: https://www.youtube.com/playlist?list=PLrRPvpgDmw0kjL4875H36yNhWBb0f-nci See how to create an automated Accounting Aging Accounts Receivable Reports On Multiple Sheets With Array Formula, Excel Table Feature and Formula Table Nomenclature (Structured References): 1. (00:16 min) Overview of end result: Automatic Aging Reports 2. (00:53 min) Convert Source Data Table (in separate workbook file) to an Excel Table and name the Table. 3. (01:55 min) Import Source Data into Report File 4. (03:05 min) Add Helper Column to Destination Excel Table in the Report Workbook file. First look at Table Formula Nomenclature (Structured References). The correct formula for Days Late is: =TODAY()-[@[Due Date]]. 5. (03:45 min) COUNTIFS formula to count records that are between 1 and 30 days past due. Including syntax for greater than or equal to criteria when the comparative operator and a cell must be joined. 6. (06:04 min) Array Formula to extract the "Number of Days Late" information for each customer, given two criteria. See how to use LARGE function and IF function and the array formula key stroke: Ctrl + Shift + Enter. GOOD FOR EXCEL 2007 or EARLIER. Learn more about Table Formula Nomenclature (Structured References). 7. (09:58 min) See how to use IF function rather than IFERROR function to create efficient Data Extraction Array Formulas. 8. (11:13 min) Array Formula to extract the "Number of Days Late" information for each customer, given two criteria. See how to use the AGGREGATE function rather than the LARGE function to gain the benefits: 1) No need for special keystroke, 2) avoid errors from implicit intersection. GOOD FOR EXCEL 2010 or LATER. 9. (14:53 min) Array Formula to extract Customer Name and Invoice Amount using INDEX, AGGREGATE, IF, ROW, COUNTIFS and ROWS functions. 10. (21:01 min) Learn how to make Table Formula Nomenclature (Structured References) Absolute. 11. (23:30 min) Copy Array Formula Reprt to Multiple Sheets. 12. (24:35 min ) Test to see if data changed in the Source and Destination workbooks will be reflected in the Aging Reports automatically. What is an Aging Report: Aging means how many days past the due date the invoice is. Accounts Receivable Customers must pay their bill by a certain date, if they pay late, they would be listed in one of the aging reports. If they are 1-30 days late, they are listed in the first report. 31-60, the second. And so on. Further, once the customer is so late, like 300 days, the company stops wasting its time trying to collect and writes the Accounts Receivables amount as "Bad Debt" and runs that expense through the Income Statement.
Views: 71295 ExcelIsFun
Compare Two Lists to Highlight Matched Records
http://www.computergaga.com/blog/compare-two-lists-to-highlight-matched-items/ Compare two lists in Excel to identify the matched records. Highlight the duplicate, or the unique records, by comparing two lists using the Match function and Conditional Formatting.
Views: 461605 Computergaga
Matching transactions (reconciling) using Excel Pivot Tables | ExcelTutorials
Matching transactions (reconciling) using Excel Pivot Tables | ExcelTutorials Learn how to reconcile (or match) transactions using Excel Pivot Tables. Example workbook and more here: http://chandoo.org/wp/2014/06/10/matching-transactions-pivot-tables/ Do Subscribe, Like & Share my video if you like!! Click The Below Link To SUBSCRIBE: https://www.youtube.com/channel/UC8uU_wruBMHeeRma49dtZKA
Views: 125773 Learn Excel from Chandoo
Data Reconciliation and MIS Reporting using a Spreadsheet (MS Excel)
This video presents two simple functions in Microsoft Excel, that can be used to create meaningful Management Information System reports. The same functions and procedure can also be utilized for reconciling data.
Excel & Business Math 27: Bank Reconciliation Made Easy
Excel & Business Math 27: Bank Reconciliation Made Easy Download Start Excel File: https://people.highline.edu/mgirvin/AllClasses/135NoTextBook/Content/05BankingPayroll/ExcelBusinessMathVideo27BankReconciliation.xlsm Download pdf Notes: https://people.highline.edu/mgirvin/AllClasses/135NoTextBook/Content/05BankingPayroll/ExcelBusinessMathVideo27BankReconciliation.pdf Entire Class Web Site: https://people.highline.edu/mgirvin/AllClasses/135NoTextBook/135/135NoTextBookClass.htm In this video learn about checks and Bank Reconciliation. Learn about the concepts of why and how we perform bank reconciliation. Also learn about how to show two worksheets from the same workbook side-by-side. Also learn hoe to create Conditional Formatting and data Validation to format or highlight a row in a checkbook register. Excel & Business Math Class (Busn 135) taught by Michael Girvin at Highline College / Mike Girvin at excelisfun Channel at YouTube Channel. Topics in Video: 1. (00:01) Introduction 2. Parts of a Checks 3. Types of Endorsements 4. Bank Services & Fees 5. Bank Reconciliation Example 1: Make sure both sides are actually Equal. 6. Bank Reconciliation Example 2: Make sure both sides are actually Equal and enter the bank statement entries that are not in our records, into our records 7. Bank Reconciliation Example 3: Bank Reconciliation with a Bank Reconciliation Form 8. How to show two worksheets from the same workbook side-by-side: View, New Window, Arrange All 9. How to use Conditional Formatting and Data Validation to format or highlight row that has an “X” for “item has been reconciled”. 10. () Summary Next Video: 28 Excel & Business Math
Views: 9317 ExcelIsFun
Compare Two Excel Lists to Spot the Differences
Over time you will collect many lists of Excel data. It can be a challenge to compare the contents of one list with the contents in another list. For example, to find out which customers do not exist in another list. In this lesson I demonstrate three techniques that you can use to compare Customer lists: 1) The =MATCH() Function 2) The VLookup() Function 3) Pivot Tables I invite you to visit my website - www.thecompanyrocks.com - to view all of my video lessons.
Views: 614970 Danny Rocks
How to Prepare a Bank Reconciliation Part 1
Step 1: Tick off items that appear on the bank statement as well as the cash book (known as 'matched' items) Step 2: Update the cash book for all items that appear on the bank statement but are not currently shown in the cash book e.g. bank charges (we won't know about items like this until we receive the bank statement). Balance off the Cash Book. Step 3: Reconciliation: start with the end date bank statement balance and; ADD: receipts shown in the cash book but are not on the bank statement yet. DEDUCT: payments shown in the cash book but are not on the bank statement yet. The amount you end up with should be equal to the brought down balance in the Cash Book. www.accountancylearning.co.uk
Views: 151834 Accountancy Learning Ltd
Calculating values across worksheets with formulas | Excel Tips | lynda.com
Get data from other worksheets and other workbooks using references and formulas like INDIRECT. Watch more Excel tutorials at http://www.lynda.com/Excel-tutorials/Excel-Tips/363001-2.html?utm_campaign=jPyDmHlIc5I&utm_medium=social&utm_source=youtube-earned This tutorial is from the Excel Tips Weekly series presented by lynda.com author Dennis Taylor. The complete course is presented as a weekly lynda.com series and offers a new Excel tip every Tuesday on topics such as productivity-boosting tips, cool features and functions, and even advanced subjects such as using PivotTables for data analysis. Connect with lynda.com: Facebook: http://bit.ly/fbldc Twitter: http://bit.ly/ldctw Google Plus: http://bit.ly/gplusldc LinkedIn: http://bit.ly/linkldc
Views: 120058 LinkedIn Learning
12 - Accounting for Payroll
An overview of accounting for Payroll, to accompany http://www.principlesofaccounting.com Chapter 12, Current Liabilities and Employer Obligations *Check out the Classroom page to find out how to take this course for credit: http://www.principlesofaccounting.com/classroom.html
Views: 63590 Larry Walther
Cash Receivables - Intermediate Accounting I - Lecture 9
Lecture 9: Cash Receivables Professor Carolyn Levine This lecture is about Cash and Accounts Receivables and its importance in the financial statements of a company. Cash is not always so straightforward and there are different types of cash. For example, cash that is set aside for another purpose is called restricted cash and cannot be considered cash in the traditional sense. There are also many different types of receivables discussed in this session, along with examples to aid in the learning of these topics. Restricted cash must be reported separately from cash (for example, cash that has been set aside for plant expansion, retirement of long-term debt, and compensating balances). Bank overdrafts are reported as current liabilities unless another account at the same bank has sufficient funds to cover. Credit card sales are when customers pay using credit cards and the company incurs a "service charge." The bank issuing the credit card settles the transaction, often within the same day. Credit sales, on the other hand, involve extending credit to customers directly, such as accounts receivable (oral promises to pay for goods or services) and notes receivable (written promises to pay for goods or services). Non-trade receivables include advances to officers and employees, advances to subsidiaries, deposits to cover potential damages or losses, deposits as a guarantee of performance or payment, dividends, and interest receivable. It also includes claims against insurance companies for casualties sustained, defendants under suit, governmental bodies for tax refunds, common carriers for damaged or lost goods, creditors for returned, damaged, or lost goods, and customers for returnable items (crates, containers, etc). The gross method assumes the discount is something acquired, while the net method assumes the discount is something that is forfeited (i.e. you have it by default and then DECIDE not to take it). A company should measure receivables in terms of their present value. However, receivables arising from transactions with customers in the normal course of business which are due in customary trade terms not exceeding approximately one year are excluded from present value considerations. Although the company does not know which customers will not pay, it is inevitable that some will not (i.e. it is likely that a loss will be incurred). This is considered a cost of doing business. While some may say that credit should not be issued at all, that can cause problems. If no credit is extended, it may decreases sales more than the cost of not collecting money. In other words, the benefits provided by allowing credit outweighs the risk of customers not paying off what they owe. There are two methods to address / account for customers that do not pay. One is the direct write-off method (which is not GAAP unless there is an immaterial difference between it and the allowance method) and the other is the allowance method. Since loss is likely and can be reasonable estimated, the company should record an expense. It uses historical data to determine the expense. Revenues must be properly matched with expenses, and receivables must be properly valued. When an expense is recorded, the entry we make is a debit to bad debt expense and a credit to the allowance for doubtful accounts. The allowance for doubtful accounts reduces the value of accounts receivable and leads to a valuation of accounts receivable that approximates "net realizable value." The methods for determining expense for the period are the percentage of sales (income statement oriented) and the aging of receivables (balance sheet oriented). The percentage of sales method states that if there is a stable relationship between cash and credit sales, take a percentage of credit sales to estimate bad debt expense. For example, if historically speaking, 2% of credit sales have been bad debts (in the past), and the company makes sales of $100,000, it should assume that its bad debt expense is $2,000. It ignores the existing balance in the allowance account and focuses only on the current credit sales to determine the expense. Different percentages can be used across different product lines. When a specific customer's account is identified as uncollectible, it is written off against the balance in the allowance for bad debts account. The write-off itself has no effect on income. Restricted Cash 1:35 Credit Sales vs. Credit Card Sales 6:58 None-Trade Receivables 13:48 Trade Receivables 15:28 Gross vs. Net Method 28:57 What about Interest? 40:24 What happens when a customer does NOT pay? 42:06 Allowance Method 47:40 Allowance for Doubtful Accounts 50:32 Details on Methods 57:51 Percentage of Receivables 1:00:18 Recording Bad Debts 1:03:28 To Write Off non-collectible's 1:09:56
Views: 18836 Rutgers Accounting Web
How to Compare Two Columns in Excel 2013
Don't forget to check out our site http://howtech.tv/ for more free how-to videos! In this HowTech written tutorial, we’re going to show you how to compare two columns in Excel. Especially when working with extensive, unwieldy columns, it may be necessary to compare them. Another example would be when working in a team, and you’re not entirely sure what the other person wrote down; so you want to check to make sure that there aren’t any repeats in the columns. First click an empty cell and type in the following Function: =IF(ISERROR(MATCH(A3,$C$3:$C$12,0)), “”, A3) The first A3 refers to the name to be tested against the $C$3:$C$12 selection of names. The second A3 refers to the value to output if there is a MATCH error. Change these values according to the setup of your Excel spreadsheet   Select the cell that the Function was typed in then go ahead and click and hold the bottom right hand handle of the cell and drag it down as many cells as are in the columns that you are comparing If there are any errors, they will show up in the corresponding row and showing the value or name that created the error This is a HowTech tutorial, visit our website and see our videos for more! http://youtube.com/ithowtovids - our feed http://www.Facebook.com/howtechtv - join us on Facebook https://plus.google.com/103440382717658277879 - our group in Google+
Bank Transaction Entry In Tally ERP 9 Day-7 |Tally ERP 9 In Hindi| All About Banking Transactions
Learn Bank Transaction Entries in Tally, Such as Cash Deposit in Bank, Cash Withdraw form Bank , Loan From Bank, Loan Repayment to Bank, Bank Loan Installments Entry, When Bank Interest Received or When Bank Charge Interest on our Loan, When Cheque is Dishonored or Bounce by Bank, How to Post Cheque return Charges, Entries When New Bank A/C Opened i.e. Current A/C, Saving A/C, How to Paid Expenses by Cheque i.e Salay, Light bill paid by cheque, How to Post Fixed Deposit Entry in Tally, Entry for Funds transfer from one bank account to another bank account, Entry for Funds Transfer to FD,RD. Lean All Bank Related Transactions in Tally Step By Step Hindi Tutorial. Have a Nice Day!!! Happy Learning!!! Keep Learning!!! Watch All Day by Day Video ::- Day-1 Complete Basic Accounting Class with Example|Journal Entry in Tally https://www.youtube.com/watch?v=vZQGxkommug&list=PLlDtUyWdJwXXx8VkVuPoRuqbVJzOBj9Cv&index=1 Day-2 INTRODUCTION to TALLY ERP 9 https://www.youtube.com/watch?v=XCszfm-6nBY&t=1s Day-3 Company Creation, Alteration, Tally Password https://www.youtube.com/watch?v=pqLoH8ObJ_M Day-4 Concept of Groups in Tally https://www.youtube.com/watch?v=6wi9BGM4iLA Day-5 How to Create Ledgers- https://www.youtube.com/watch?v=Cb6QLeXs_OU Day-6 Voucher Entry -Contra, Payment, Receipt, Journal, Sales, Purchase Voucher https://www.youtube.com/watch?v=tGX9iZSWu9I Day 7- Watch All Bank Transaction Entries in Tally- https://www.youtube.com/watch?v=QV1M0ALJPOA Day 8- Discount Related Entries in Tally | Cash or Trade Discount https://www.youtube.com/watch?v=AfMlAyxw3j8&index=8&list=PLlDtUyWdJwXXx8VkVuPoRuqbVJzOBj9Cv&t=25s Day-9- Basic Adjustment Entries|Journal Voucher Entries https://www.youtube.com/watch?v=IYBoqln8uK4&index=9&list=PLlDtUyWdJwXXx8VkVuPoRuqbVJzOBj9Cv&t=25s DAY-10- Common Tally Problems Dr/ Cr Mode|Single Payment Modehttps://www.youtube.com/watch?v=43azz8FC89A&index=10&list=PLlDtUyWdJwXXx8VkVuPoRuqbVJzOBj9Cv Download Practices Entries form our blog: http://cpitudaipur.blogspot.in/ Watch Tally Erp 9 Shortcut and Tricks- https://www.youtube.com/watch?v=s2vcoM6kF8M&t=25s Watch Tally Erp 9 Calculator Tricks- https://www.youtube.com/watch?v=wdTXMZIfdh4 Watch How to Run Tally in Pen Drive- https://www.youtube.com/watch?v=48yH5o4ytLA Learn Basic Accounting or Tally First Class- https://www.youtube.com/watch?v=vZQGxkommug&t=25s Learn Tally Erp 9 Basic To Advance Level-https://www.youtube.com/playlist?list=PLlDtUyWdJwXXx8VkVuPoRuqbVJzOBj9Cv Visit Our Website: http://www.cpitudaipur.com Visit Our Blog: http://cpitudaipur.blogspot.in/ Like Our Facebook Page: http://facebook.com/cpitudr Please Subscribe to Our Channel https://www.youtube.com/channel/UCSMsxXvvi-7XvygtsMWRBOg
Excel Magic Trick 1133: Aging Accounts Receivable Reports: PivotTable & Unique Identifier
Download Excel File: http://people.highline.edu/mgirvin/ExcelIsFun.htm See how to create Aging Accounts Receivable Reports On Multiple Sheets With PivotTable where or not there are duplicate records: 1) (01:49 min) Days Late Helper Column Formula: TODAY function and relative cell reference 2) (02:46 min) Report Category Helper Column Formula using VLOOKUP 3) (03:45 min) Unique identifier Helper Column Formula using COUNTIF, expandable range and Join Symbol 4) (05:55 min) PivotTable based on Invoice Column 5) (08:48 min) PivotTable based on Unique identifier column What is an Aging Report: Aging means how many days past the due date the invoice is. Accounts Receivable Customers must pay their bill by a certain date, if they pay late, they would be listed in one of the aging reports. If they are 1-30 days late, they are listed in the first report. 31-60, the second. And so on. Further, once the customer is so late, like 300 days, the company stops wasting its time trying to collect and writes the Accounts Receivables amount as "Bad Debt" and runs that expense through the Income Statement.
Views: 78813 ExcelIsFun
How To Do A Balance Sheet
http://www.accounting101.org/how-to-do-a-balance-sheet How to do a balance sheet: a balance sheet is a financial document that shows the assets, liabilities, and owners' equity of a company at a given point in time. It's different from the income statement in that it is a snapshot on any given day, whereas the income statement spans a time period. Most companies prepare their balance sheets quarterly and yearly. How To Do A Balance Sheet To put together a balance sheet, you'll obviously need all of the financial data from your different trial balances. In reality, the information for a balance sheet starts with the individual transactions, but the purpose of this article is just to show you how to organize a balance sheet. First of all, there are two sides to the balance sheet: the right and left side. On the left side, you'll have your assets. On the right side, you'll have two sections: liabilities and owners' equity. The left and right side will always be equal, and the main balance sheet equation is: Assets = Liabilities + Owners' Equity This makes sense because the Assets are on the left side, and it will always equal what is on the right side, which is the Liabilities and Owners' Equity accounts added together.
Views: 780842 SuperfastCPA
Pick a Card Reading: How close are you to finding your Divine Love match? DF/DM  #pickacard
#pickacard Hello Lovelies! For private readings email: [email protected] Emergency readings: $45; $65; $80. Timestamps: (more info on emergency readings below) Pick a Card Reading: How close are you to finding your Divine love match? Divine Feminine or Divine Masculine Group 1 - 01:30 Group 2 - middle - 07:09 Group 3 - blue stone -13:20 Deck/oracle chit chat - 18:02 This Weeks Nail Polish! https://amzn.to/2Jx7Nln Decks Used: Love Oracle - https://amzn.to/2qq7iRl Steampunk Tarot -- https://amzn.to/2yIYyu8 Vintage Wisdom - https://amzn.to/2SwV5H8 Lenormand Deck - https://amzn.to/2PxN0n5 Angel Answers - https://amzn.to/2qjxrBn Emergency readings within 24 hours-$45; 12 hours- $65 or 4 hours - $80; Square/Cashapp or Paypal Payments accepted. https://cash.me/kemiadele Paypal to the email address of [email protected] After payment, please send me an email with the details for the reading. *Affiliate links are used to share the decks and other items seen in my videos.
Views: 282 Love Alchemy Tarot
Tally erp 9 Inventory Vouchers with Live Practical on Actual Data.
Learn Inventory Accounting with Practical Project in Tally Erp 9. Practical class in hindi by City Commerce Academy. Lecture by Prof. Amar Jeet Singh. Other Class is also available on : Basic Accounts, Manual Accounts, Compute Accounts, Tally erp 9 , Balance Sheet, Inventory Accounts, Reconciliations, Vat, Sales Tax, Service Tax, Income Tax, TDS, Excise, EPF, ESI etc.
Views: 1067532 Amar Jeet Singh
I can prepare 2 months of bank reconciliation in under 3 minutes
In this presentation, I will show you how to do two months of bank reconciliations in under three minutes. We will reconcile from June to July 2014. The starting reconciliation is May 2014. For this demo, we will use Ezyrecon. The software is written in Visual Basic using Excel as the user interface. By doing so, it allowed the user to avoid the lengthy instructions and high learning curve. Normally, when you start a bank reconciliation, you need to know the reconciling details from the previous month. We will assume that the May starting reconciliation was already entered in the Ezyrecon Excel workbook. The steps to do a bank reconciliation using Ezyrecon are as follows: 1) Download the bank file or the bank statement into an Excel or csv file format. 2) Download the book file or the cash account detailed trial balance into an Excel or csv file format. 3) Open the Ezyrecon Excel workbook and go to the tab called “Program”. Hit the button “SuperEzy” to reconcile. Note: Once you have those two files, the bank and book, the reconciliation is practically done. You need to tell BEN, the virtual accountant in Ezyrecon to take over and present to you the final report. Tell him not to bother you, unless he is done. The final report is a two-column format, from unadjusted to reconciled book and bank balances. In addition, tell him to prepare the suggested adjusting entry of all the reconciling items using your own chart of accounts. Again, to activate BEN, you just need to hit a button called “SuperEzy." A normal bank reconciliation for small to medium companies will take less than 3 minutes. Once it is done, BEN will beep and present a screen message to notify that he is done with the reconciliation. Once, I reviewed and approved the June reconciliation, I will save it as “2014 June reconciliation.” Next month, I will download the bank and book files for July. I will open the June reconciliation workbook and save it as “2014 July reconciliation.” So, now I have two files; one is the completed June, and the other is the July that I need to do. The workbook called “2014 July reconciliation” has all the details from June. On this workbook, I will hit the button “Initialize” to bring forward all the June reconciling items to July. BEN will ask me if I record all the reconciling items in June. Since, the book is already closed, I did not record the reconciling items until July. So, I will say “NO," as the answer. Next, the system will prompt me to enter the July the bank and book ending balances. After giving those balances, the system is ready to do its job. To reconcile, July, I will tell BEN, the virtual accountant to do it- I will simply click the button called “SuperEzy.” There are unrecorded checks, deposits and charges from June. I recorded them in the July books. BEN is smart enough to remove them from the list of the reconciling items in July. As usual, the July reconciliation will take less than three minutes. Thus, with Ezyrecon, a two-month bank reconciliation is a breeze or super easy to do.
Australian Unity announces its Reconciliation Action Plan
Australian Unity is determined to play its part in the reconciliation process, and is proud to present its first Reconciliation Action Plan (RAP).
Views: 988 Australian Unity
Temporary vs. Permanent Tax Differences in Financial Accounting
This video discusses the difference between a temporary tax difference and a permanent tax difference. Tax differences arise because "book income" (income computed for financial reporting purposes, according to GAAP) is different from "tax income" (income computed for purposes of calculating the amount of corporate income tax due). Temporary tax differences reverse over time, whereas permanent tax differences never reverse. For example, the IRS allows U.S. firms to accelerate their depreciation deductions. This often results in firms front-loading the depreciation expense of an asset (taking more depreciation in the early years of the asset, and less depreciation in the later years of the asset). This difference is only temporary, however, as the same total amount of depreciation is taken for both book and tax purposes. Thus, the difference is merely one of timing, and it reverses itself over time. Permanent tax differences never reverse. An example of a permanent tax difference is the proceeds from a life insurance policy. Life insurance proceeds are not taxable so they will never appear in taxable income. Life insurance proceeds do appear in book income, however, so this creates a permanent tax difference (it does not reverse in a later period). Edspira is your source for business and financial education. To view the entire video library for free, visit http://www.Edspira.com To like us on Facebook, visit https://www.facebook.com/Edspira Edspira is the creation of Michael McLaughlin, who went from teenage homelessness to a PhD. The goal of Michael's life is to increase access to education so all people can achieve their dreams. To learn more about Michael's story, visit http://www.MichaelMcLaughlin.com To follow Michael on Facebook, visit https://facebook.com/Prof.Michael.McLaughlin To follow Michael on Twitter, visit https://twitter.com/Prof_McLaughlin This video was funded by a Civic Engagement Fund grant from the Gephardt Institute for Civic and Community Engagement at Washington University in St. Louis.
Views: 29062 Edspira
Statement of Cash Flows (Indirect Method) | Accounting | Chegg Tutors
The Statement of Cash Flows explains the change in cash and cash equivalents for a given period and provides information about a company’s cash inflows and cash outflows for operating, investing and financing activities. Operating activities relate to the selling and producing of goods or services that go into calculating net income or loss. Investing activities include buying debt and equities, purchasing and selling fixed assets, and making and collecting loans. Financing activities include changes in long-term liabilities and stockholders’ equity. When using the Indirect Method to present the Statement of Cash Flows, a company reports net cash flow from operating activities indirectly by adjusting net income or loss for items such as depreciation, amortization, gain or loss on sale of assets, and changes in current assets and liabilities, thus reconciling it to net cash flow from operating activities. ---------- Accounting tutoring on Chegg Tutors Learn about Accounting terms like Statement of Cash Flows (Indirect Method) on Chegg Tutors. Work with live, online Accounting tutors like Christopher B. who can help you at any moment, whether at 2pm or 2am. Liked the video tutorial? Schedule lessons on-demand or schedule weekly tutoring in advance with tutors like Christopher B. Visit https://www.chegg.com/tutors/Accounting-online-tutoring/?utm_source=youtube&utm_medium=video&utm_content=managed&utm_campaign=videotutorials ---------- About Christopher B., Accounting tutor on Chegg Tutors: Drexel University, Class of 1984 Accounting major Subjects tutored: Accounting TEACHING EXPERIENCE I possess extensive experience collaborating with students at all levels to provide help and instruction on accounting and business topics. I've taught college accounting courses to full time students as well as professionals at the undergraduate level. I am a member of the Drexel University MBA Career Services Advisory Board where I mentor students on a variety of business topics and provide guidance on career management, job search strategies, resume preparation and interviewing techniques. EXTRACURRICULAR INTERESTS I am a subject matter expert in providing customized retained search services to corporate clients and career coaching to individuals. At Resource Development Company, I built one of the top 20 executive search and recruiting firms in the Philadelphia area. I also helped launch JobMetrx, an RDC service focused on providing job seekers with a variety of tools including online personal branding. Prior to joining RDC, I enjoyed a progressive career in accounting and finance in the manufacturing sector. My educational background includes a BS in Business Administration with a major in Accounting and MBA from Drexel University. I am also a Certified Professional Resume Writer and a Certified Public Accountant. I serve on the Board of Advisors for a Philadelphia area private high school and I also have been on the Board of Advisors for two early stage companies involved in college athletic recruiting and website development. I enjoy spending time with my family, travelling and performing community service. Want to book a private lesson with Christopher B.? Message Christopher B. at https://www.chegg.com/tutors/online-tutors/Christopher-B-2444553/?utm_source=youtube&utm_medium=video&utm_content=managed&utm_campaign=videotutorials ---------- Like what you see? Subscribe to Chegg's Youtube Channel: http://bit.ly/1PwMn3k ---------- Visit Chegg.com for purchasing or renting textbooks, getting homework help, finding an online tutor, applying for scholarships and internships, discovering colleges, and more! https://chegg.com ---------- Want more from Chegg? Follow Chegg on social media: http://instagram.com/chegg http://facebook.com/chegg http://twitter.com/chegg
Views: 27276 Chegg
Tally erp 9 Balance Sheet - Opening Balance
Learn how to start new financial year and how to carry forward balances for new financial year with live project. This Class is prepared by City Commerce Academy, Chandigarh
Views: 231835 Amar Jeet Singh
GSTR 1 , Prepare online GSTR 1 GST monthly return
GSTR 1 Learn how to prepare GSTR 1, online with actual transactions, This video is prepared by City Commerce Academy, Visit us at https://www.onlinecca.com
Views: 493823 Amar Jeet Singh
Intro to Earnings Per Share (EPS) | Intermediate Accounting | CPA Exam FAR | Chp 4 p 5
Earnings per Share 14. In general, earnings per share represents the ratio of net income minus preferred dividends (income available to common shareholders) divided by the weighted-average number of common shares outstanding. It is considered by many financial statement users to be the most significant statistic presented in the financial statements, and must be disclosed on the face of the income statement. Per share amounts for gain or loss on discontinued operations must be disclosed on the face of the income statement or in the notes to the financial statements. Changes in Accounting Principles 15. (L.O. 5) A change in accounting principle results when a company adopts a new accounting principle that is different from the one previously used. A company recognizes a change in accounting principle by making a retrospective adjustment to the financial statements. Such an adjustment recasts the prior years’ statements on a basis consistent with the newly adopted principle. The company records the cumulative effect of the change for prior periods as an adjustment to beginning retained earnings of the earliest year presented. Changes in Estimates 16. Accountants make extensive use of estimates in preparing financial statements. Adjustments that grow out of the use of estimates in accounting are used in the determination of income for the current period and future periods and are not charged or credited directly to Retained Earnings. It should be noted that changes in estimates are not considered errors (prior period adjustments). Corrections of Errors 17. Companies must correct errors by making proper entries in the accounts and reporting corrections in the financial statements. Corrections of errors are treated as prior period adjustments, similar to changes in accounting principles. Companies record an error in the year in which it is discovered. They report the effect of the error as an adjustment to the beginning balance of retained earnings. If a company prepares comparative financial statements, it should restate the prior statements for the effects of the error. Retained Earnings Statement 18. (L.O. 6) The retained earnings statement serves to reconcile the balance of the retained earnings account from the beginning to the end of the year. The important information communicated by the retained earnings statement includes: (a) prior period adjustments (income or loss related to corrections of errors in the financial statements of a prior period net of tax), (b) changes in accounting principle, (c) the relationship of dividend distributions to net income for the period, and (d) any transfers to and from retained earnings. Comprehensive Income 19. (L.O. 7) Items that bypass the income statement are included under the concept of comprehensive income. Comprehensive income includes all changes in equity during a period except those resulting from investments by owners and distributions to owners. 20. The FASB requires that the components of other comprehensive income must be displayed in one of two ways: (1) a one statement approach, or (2) a two statement approach. In the one statement approach, the traditional net income is a subtotal, with total comprehensive income shown as a final total. The combined statement has the advantage of not requiring the creation of a new financial statement. The two statement format reports comprehensive income in a separate statement, which indicates that the gains and losses identified as other comprehensive income have the same status as traditional gains and losses. Statement of Stockholders’ Equity 21. This statement reports the changes in each stockholders’ equity account and in total stockholders’ equity during the year. Both contributions (issuances of shares) and distributions (dividends) to owners, and a reconciliation of the carrying amount of each component of stockholders’ equity from the beginning to the end of the period are disclosed in the statement. IFRS Insights 22. (L.O. 8) The income statement is a required statement for IFRS, as in GAAP. The content and presentation of an IFRS income statement is similar to the one used for GAAP. Presentation of the income statement under GAAP. Presentation of the income statement under GAAP follows either a single-step or multiple-step format. IFRS does not mention a single-step or multiple-step approach. Earnings per share, simple, earnings per share, diluted earnings pershare, complex earning per share, dilutive, antidilutive, weighted average number of shares, cpa exam, if converted method,
This VIDEO will give solution / Answers to below mentioned Errors found after filing of GSTR-3B - As per GST Circular 26/26/2017 dated 29 Dec 2017 How to CORRECT - EXCESS or SHORT OUTWARD SUPPLY mentioned in GSTR3B, EXCESS or SHORT INWARD SUPPLY mentioned in GSTR-3B, EXCESS TAX PAID in GSTR 3B, SHORT TAX PAID in GSTR - 3B, INPUT TAX WRONGLY CLAIMED, PENALTY PAID for LATE filing GSTR - 3B, BUT now EXEMPT, What to do ? Errors found after GSTR-3B FILED - How to correct / Modify Errors in GSTR 3B , How to rectify in GSTR 1, GSTR 2, GSTR 3 & GSTR-3B MISTAKES & CORRECTIONS REQUIRED in GSTR-3B after FILING CAN we revise GSTR-3B GSTR 3B ? कैसे GSTR-3B की गलतियां सही करें ? in HINDI PLS LIKE & SHARE the VIDEO & SUBSCRIBE my CHANNEL Circular on GSTR-3B Corrections – http://cadivyanshusengar.com/download/circular-26/ GST Returns Due Dates https://youtu.be/fbSTjbMAZXA PREVIOUS VIDEO on corrections of GSTR-3Bhttps://youtu.be/bHQ4rUcf74s GST INTEREST CALCULATION on DELAY TAX PAYMENT, HOW to calculate INTEREST in GST https://youtu.be/pb3D5pwCtuk Wrong TAX Paid, CGST - SGST in place of IGST, What to do ? How to claim Refund ?* https://youtu.be/HLhid_zQEx8 RECONCILIATION GSTR 3B with GSTR 1, 2, 3 , MISTAKES in GSTR 3B HOW TO RECTIFY / REVISE – When GSTR2 & 3 starts https://youtu.be/ZMERBRT88Ko Other VIDEOS - RCM PURCHASES & ITC in GST Returns GSTR 3B , 1 , 2 Where to show Details https://youtu.be/vjQJEk8pbMg GST SUMMARY https://youtu.be/7mQ8bPn28qU GST Transitional Provisions, Analysis (Part 1) Goods & Service Tax complete Sec 139-140 https://youtu.be/y5iOt_X4f5w Shifting of Input Credit (ITC) on Closing Stock - GST (Act & Draft Rule) - Case Study https://youtu.be/kbsRHPGqSEk GST Transitional Provisions (Part 3) - Input on Stock lying with JOBWORKER (Section 141) https://youtu.be/ruPoM3ZcLY4 DEMO GST TRAN 2 FORM to be filed - Input Credit on Closing Stock (Invoice not available) https://youtu.be/FbhwWUsR90c GST - ANTI PROFITEERING, FINAL RULES 2017, Section 171, Rate benefit Treatment https://youtu.be/9iY3vy16SB4 GST - SALE INVOICE FORMAT, SALE BILL, RULES - 16 Points, Simple Formatting Explained https://youtu.be/g3vEiwjIL-Y GST - Bill of SUPPLY FORMAT, for Composition Scheme, Exempted Services/ Goods explained https://youtu.be/mYSUj5G3QF0 GST RECEIPT VOUCHER FORMAT, TAX on ADVANCE RECEIPT, MOST IMPORTANT VOUCHER https://youtu.be/kQxJ7Cj3AVE GST REFUND VOUCHER FORMAT, REFUND of ADVANCE RECEIVED, All details Explained https://youtu.be/-442bvyCFcY GST PAYMENT VOUCHER FORMAT, Reverse Charge Documentation, All details Explained https://youtu.be/05znTyWquZw GST Revised TAX Invoice, GST Debit Note, GST Credit Note, FORMATS, RULES - 10 Points, https://youtu.be/fEwTVxpveLY GST Transportation of Goods without Invoice, Stock Transfer, Delivery Challan, https://youtu.be/80MOT0DKJAs REVERSE CHARGE https://youtu.be/SZAPmQGUI8k GST REVERSE CHARGE in case of SUPPLY from Unregistered Dealer explained https://youtu.be/i6mDjkFKKDU GST Accounting Entries - Intra & Inter State SALE, PURCHASE, Service & ITC Entries https://youtu.be/lyrjG3-CyoY GST MIXED & COMPOSITE SUPPLY with PRACTICAL EXAMPLES Explained https://youtu.be/ucfm5_qVhPU DEMO How to fill GSTR - 3B, Summarized GST Form for July'17 & Aug'17, Explained https://youtu.be/j1-iW3NBimI GST - TDS https://youtu.be/e8lg1C8wjuI GST RATES APPLICABLE on SCRAP/ WASTE https://youtu.be/1HpwZmsj3JQ GST में EXPORT कैसे करे on BOND / Letter of undertaking (LoU), GST Circulars, Notifications EXPORT https://youtu.be/HekSQI8oz1s GST Provisions on FREE SUPPLY, फ्री सप्लाई का क्या होगा GST में, क्या टैक्स देना होगा? https://youtu.be/Hksn_JlXLhc GST RATES on Common Expenses & Input Tax Availability plus RCM Provisions https://youtu.be/y-bDVMVEv1E GST TRANSPORTATION of GOODS - GTA PROVISIONS - SUMMARY CHART in just 10 minutes https://youtu.be/MSqGJHZ3eKA GST REVERSE CHARGE (RCM) ACCOUNTING & DOCUMENTATION https://youtu.be/M_CFYQ7FaB0 * DISCLAIMER - This video is mere a general guide meant for Educational purposes only. No legal advice is given in this Video or Comments or in any way. All the Examples discussed are subject to change as per scenario. #GST #GSTSIMPLIFIED #GSTCOUNCILMEETING , GST Council Meeting 10th Nov 17 , Detailed GST Analysis in Hindi , SUMMARY by CA DIVYANSHU SENGAR , GSTeasy , GST Reverse CHARGE , GSTR - 1 , GSTR - 2 , GSTR - 3B , GTA , Goods Transport Agency , Transportation in GST , GST Returns filing DEMO , Data filing in GST , Relevant Section Goods & Service tax GST by CA DIVYANSHU SENGAR
How to fix Bank Reconciliation Discrepancies, Beginning balance is off in QuickBooks
Don't miss a tip, Join my Tips & Tricks: https://CandusKampfer.com/tips Candus' Free Mini Course: https://canduskampfer.com/minicourse/ Find out how to Join my QuickBooks Simplified Community: http://quickbookssimplified.com Are you new to QuickBooks or are you struggling to figure out the software? Would you love a course that is step by step vs searching for each answer and trying to figure it all out on your own? I would like to share with you my course called Confidence with QuickBooks. Everyone who has taken the course loves it. For more details visit: http://ConfidenceWithQuickBooks.com If you need help with QuickBooks, set up an appointment here: https://canduskampfer.com/private-sessions-with-candus/ Click here to be notified of upcoming Webinars & Workshops: https://canduskampfer.com/webinar-wai... Learn how to process: 941, 940, DE9, DE9C, W2's, W3, 1099-misc & 1096. Click here to join and for more details: https://canduskampfer.com/quarterly-and-year-end-forms-cou Have a great day! Candus :)
Views: 53611 Candus Kampfer
Financial Accounting (Natural Resources; Intangible Assets; Bank Reconciliation) - Victoria Chiu
Introduction to Financial Accounting Lecture 6: Accounting for Natural Resources and Intangible Assets; Bank Reconciliation and Petty Cash Transactions by Victoria Chiu Recap: 0:08 Natural Resources: 1:30 Depletion Expense: 3:46 Intangible Assets: 6:23 --- Goodwill: 8:16 --- Exercise: 18:34 Internal Control & Cash: 23:43 --- Internal Control: 25:23 --- Control Documents of a Bank Account: 29:27 Bank Reconciliation: 38:12 --- Cash account in general ledger and Bank statement: 34:07 --- Summary of Reconciling Items: 40:00 Journalizing Transactions from the Reconciliation: 41:31 Exercise Preparing a Bank Reconciliation: 44:04 Petty Cash Transactions: 1:00:16 --- Setting Up the Petty Cash Fund: 1:02:30 --- Making Payments: 1:03:27 --- Imprest System: 1:04:30 --- Replenish Petty Cash: 1:05:13 ------ Replenishment; Cash Short and Over: 1:05:47 Exercise: 1:09:28 To receive additional updates regarding our library please subscribe to our mailing list using the following link: http://rbx.business.rutgers.edu/subscribe.html
GST Debit Note & Credit Note in tally erp 9 rel. 6.4
how to pass GST Debit note entry in tally erp 9 rel 6.4 how to pass GST credit note entry in tally erp 9 rel 6.4 effect of Debit note in HSN summary report in GST returns effect of credit note in HSN summary report in GST returns adjustment of debit note and credit note in tally erp 9 how to adjust debit note and credit note in tally erp 9 what is steps of debit note and credit note in tally erp 9 how to adjusted previous month sales return in current months sales returns how to adjusted previous month purchase return in current months purchase returns sales returns entry in tally erp 9 rate difference entry in tally erp 9 correction in invoice in tally erp 9 purchase returns entry in tally erp 9
Aged Receivable Reports in Xero Cloud Accounting Software: Finding Your Business' Missing Money
http://www.kahunaaccounting.com In the 3rd Accounting Clarity for Entrepreneurs tutorial, we covered what to look for on the balance sheet when handling your business' bookkeeping and accounting. One of the most important and overlooked sections is aged receivables. Accessing your aged receivables report is where you’ll find a list of all the invoices you’ve created that haven’t been paid. This will show you the total amount of outstanding receivables. Basically, it's how much money your business is still owed by clients who have yet to pay. Clients falling into your account receivables can happen for a number of reasons. The client can forget. Their credit card could have failed. You may have created the invoice, but never sent it out. This report can help you track down what happened in each instance and make sure you're not at fault for your client not paying. Whatever the reason for the missing payment, this is cash that your business is not receiving and it’s very important. A slight shift in your cash flow can have a detrimental impact on your business and can even cause you to incur fees if your checking account goes negative due to overstating what should be in your account. Pull this report every month and find out who owes you, how much they how you, and how long it’s been. This is also a way to catch problems with your system if you're not sending out invoices or there is some other error that is preventing clients from receiving the information they need in order to pay. You will want to follow up with these people and collect the money you are owed sooner than later, because the longer it goes, the more difficult the conversation and the more expensive this mistake could be for your business. If you want a system that will easily track all these numbers and present you with the reports, you should definitely consider working with the Kahuna Accounting team of experts. View www.kahunaaccounting.com/growth to learn more.
Views: 224 Kahuna Accounting
Tally erp 9 Shortcut Keys. Use of shortcut keys in tally
In this tutorial you will learn how to remember shortcut keys in tally erp 9. Also learn how to use and when to use these shortcut keys in tally erp 9. This video is created by City commerce Academy
Views: 122198 Amar Jeet Singh
Allow Standard Rate for Stock Items in Tally ERP 9
Now learn how to manage/create/made allo standard rate for stock items in tally erp 9 in hindi /urdu language by computer learning channel on youtube.
Views: 30242 Computer Learning
MSPTDA 05: Power Query: Excel.CurrentWorkbook Function to Append All Excel Tables in Excel Workbook
Download Excel START Files: https://people.highline.edu/mgirvin/AllClasses/348/MSPTDA/Content/PowerQuery/005-01-MSPTDA-StartFile-PQAppendAllTablesCurrentWorkbook.xlsx https://people.highline.edu/mgirvin/AllClasses/348/MSPTDA/Content/PowerQuery/005-02-MSPTDA-StartFile-PQAppendAllTablesCurrentWorkbook.xlsx Download Excel FINISHED Files: https://people.highline.edu/mgirvin/AllClasses/348/MSPTDA/Content/PowerQuery/005-01-MSPTDA-FinishedFile-PQAppendAllTablesCurrentWorkbook.xlsx https://people.highline.edu/mgirvin/AllClasses/348/MSPTDA/Content/PowerQuery/005-02-MSPTDA-FinishedFile-PQAppendAllTablesCurrentWorkbook.xlsx Download pdf Notes about Power Query: https://people.highline.edu/mgirvin/AllClasses/348/MSPTDA/Content/PowerQuery/005-MSPTDA-PQAppendAllTablesCurrentWorkbook.pdf Assigned Homework: Download Excel File with Homework: https://people.highline.edu/mgirvin/AllClasses/348/MSPTDA/Content/PowerQuery/005-MSPTDA-Homework-Start.xlsx Example of Finished Homework: https://people.highline.edu/mgirvin/AllClasses/348/MSPTDA/Content/PowerQuery/005-MSPTDA-Homework-Finished.xlsx Buy excelisfun products: https://teespring.com/stores/excelisfun-store In this Video learn all about Excel.CurrentWorkbook Power Query Function to import all the Excel Tables in the Current Workbook, including all the potential pitfalls of using this function and how to get around these pitfalls. Topics: 1. (00:15) Introduction to Video and to Excel.CurrentWorkbook Function, including correct definition of what Excel.CurrentWorkbook Function imports when this function is invoked. 2. (02:10) Example1: Append all Excel Tables in Current Workbook To Worksheet. We will see the Recursion Problem and solve it by filtering out the Query/Table Name. 3. (03:15) Create a Blank Query. 4. (04:10) Use Excel.CurrentWorkbook() Function as Source for Query. 5. (04:50) Use Replace feature to extract the SalesRep name from the Excel Table Name. 6. (05:38) Expand column with Excel Tables to Append all Tables into one Table. 7. (05:56) Add correct Data Types for each column 8. (06:22) Introduction to Recursion Problem, where Query will refer to itself and will double the loaded records every time a Refresh is done. And look at details of Loading Data to an Excel Worksheet after using Excel.CurrentWorkbook() Function. 9. (10:07) Solve the Recursion Problem by filtering out the Query/Table Name. 10. (11:03) Add new Excel Table to Workbook and refresh to see that new table is incorporated into Final Data Set. 11. (11:40) Look at M Code for Example #1 12. (12:20) Example2: Append all Excel Tables in Current Workbook To PivotTable Cache & make PivotTable Report. This solves the Recursion Problem because there is not a Query Load table in the Excel Worksheet as an Excel Table. 13. (12:41) Remove Excel Table that is result of Power Query Load to Worksheet by Clearing All. This process will change the Load location to Connection Only. 14. (13:38) Edit Query to Remove unneeded step and to Rename incorrectly named column. 15. (14:28) Look at M Code for Example #2 16. (15:05) Example3: Append all Excel Tables in Current Workbook that has Defined Names. 17. (15:12) Look at different objects in Excel workbook, including Excel Tables and Defined Names. 18. (17:07) Keyboard for Blank Query 19. (17:40) Use Excel.CurrentWorkbook() Function as Source for Query. Then see that this imports Excel Tables and Other Objects. 20. (17:51) Define Table Object: Set of Records for a Set of Columns/Fields. 21. (18:50) Take note that Defined Names are Imported as Tables with generic Columns Names. 22. (19:50) Learn about Table.ColumnNames Power Query Function. 23. (19:59) Filter out Filtered Database Error. 24. (20:29) Create Custom Column and use Table.ColumnNames Power Query Function to Extract Column Names from each Table in each Row. 25. (20:55) Learn about Lookup Operator or Field Access Operator to access the content for each row in a specified column. 26. (21:08) Define List Object: Ordered Sequence of Values. 27. (21:35) Learn about the Positional Index Operator that allows us to access an item in a list. Curly Brackets are the Positional Index Operator; { and } . 28. (22:27) Learn that Power Query uses Base Zero for finding Relative Positions in a List. Zero represents the first position. 29. (23:06) Filter out rows that contain “Column1”. 30. (23:18) Remove Custom Column. 31. (23:23) Rename Column 32. (23:27) Use Replace feature to extract the SalesRep name from the Excel Table Name 33. (23:41) Filter Out Query Name / Table Load Name when loading to an Excel Worksheet. 34. (24:07) Expand Columns and Change Data Types 35. (24:24) Closes and Load To Worksheet. 36. (24:46) Add new Excel Table and Refresh. 37. (25:07) Look at M Code for Example #3 38. (26:25) Talk about the non-standard Data Setup we had to deal with. 39. (26:51) Summary Comprehensive Microsoft Power Tools for Data Analysis Class, BI 348, taught by Mike Girvin, Excel MVP and Highline College Professor.
Views: 9476 ExcelIsFun
QuickBooks Online 2018: Complete Walkthrough Tutorial, Company Setup, and Chart of Accounts
First, setup a new account for free (30 day trial):, use this forwarding link to my reseller affiliate site: http://www.quickbooksoffer.com/?cid=irp-4337#pricing *** ALSO, CHECK OUT PART 2 *** https://youtu.be/7MmcaaB2Es8 Topics Covered in this video: 00) Intro and Using Google Chrome as your main browser for QuickBooks Online 01)  00:02:51 Setting up a free trial: www.quickbooks50.com 02)  00:03:38 Choosing the right version of QBO, we will start with ESSENTIALS 03)  00:08:00 Configuring QuickBooks Settings for your business 04)  00:19:28 Setting up your Chart of Accounts 05)  00:46:12 Connecting you Bank to QuickBooks 06)  00:51:20 Setting up new Customers and Vendors 07)  00:57:30 Creating opening balances for existing customers and vendors 08)  01:00:02 Creating Products and Services (Items) 09) 01:05:02 Creating Estimates and Invoices, Sales Receipts, Getting Customer Payments 10)  01:14:01 Creating Bills, Receiving Customer Payments and Paying Bills (Accounts Payable) 11) 01:32:27 Creating Transfers, Working Bank Registers, and Bank Reconciliation 12) 01:37:33 Journal Entries, and Customer Statements 13) 01:40:00 Enable Purchase Orders and Receiving Inventory (PLUS EDITION ONLY) 14) 01:48:40 Transactions with Inventory (PLUS EDITION ONLY) 15) 01:52:32 Creating Budgets and Budget vs. Actual Reports, plus Job Costing basics (PLUS EDITION ONLY) 17) 01:57:02 Outro and Connecting with your Accountant This is the ultimate QuickBooks tutorial, but What is not covered on this video? Timesheets, Payroll, Sales Tax, 1099-Misc Forms, Online Banking / Bank Feeds, Inventory Management, Error Correction, Accountants Tools, Project/Job Costing, Working with Classes and/or Location, Customizing Reports, Credit Memos, Refunds, Vendor Credits, Batch Printing, QuickBooks Labs, Importing Data, Converting from Desktop, Advanced searching tools, Recurring Transactions, QuickBooks Payments, Audit Log, Connecting Apps, and may have missed other small things... Other Videos recommended: 1- QuickBooks Online Bank Feeds Masterclass: https://www.youtube.com/watch?v=c4CVlTy9eXM 2- Mastering QuickBooks Online Bank Rules: https://www.youtube.com/watch?v=n419HRW7oP4 3- More QuickBooks Online Bank feeds: https://www.youtube.com/watch?v=cDP0JJjZYt4 4- QuickBooks Online for Accountants - part 1: https://www.youtube.com/watch?v=8MkTSvkHuM8 5- QuickBooks Online for Accountants - part 2: https://www.youtube.com/watch?v=Yab73ka1DT8 6- QuickBooks Online for Accountants - part 3: https://www.youtube.com/watch?v=dE7zqMFy3nw Great followup to "Quickbooks Online 2017 Tutorial for Beginners": https://www.youtube.com/watch?v=QKaNUX8ROG0
Views: 254122 Hector Garcia CPA
QuickBooks Desktop Tutorial: Fix Reconciliation Discrepancies
Hector covers how to fix reconciliation discrepancy using the reports
Views: 18158 Hector Garcia CPA
CFA Level I- Accounting for Taxes- Part I
We offer the most comprehensive and easy to understand video lectures for CFA and FRM Programs. To know more about our video lecture series, visit us at www.fintreeindia.com This Video lecture was recorded by Mr. Utkarsh Jain, during his live CFA Level I Classes in Pune (India). This video lecture covers following key area's: 1. Differences between accounting profit and taxable income, and define key terms, including deferred tax assets, deferred tax liabilities, valuation allowance, taxes payable, and income tax expense. 2. Deferred tax liabilities and assets are created and the factors that determine how a company's deferred tax liabilities and assets should be treated for the purposes of financial analysis. 3. Tax base of a company's assets and liabilities. 4. Income tax expense, income taxes payable, deferred tax assets, and deferred tax liabilities. 5. Impact of tax rate changes on a company's financial statements and ratios. 6. Valuation allowance for deferred tax assets—when it is required and what impact it has on financial statements. 7. Company's deferred tax items. 8. Disclosures relating to deferred tax items and the effective tax rate reconciliation. 9. Key provisions of and differences between income tax accounting under IFRS and U.S. GAAP.
Views: 7896 FinTree
Calculate input and output vat in sales and purchase entry in tally
This part of video will show the demo on how to compute input and output vat in sales and purchase entries. Once you enter purchase and sales transactions as shown in video you will get the vat report in tally. Once you set features set as i shown in the video, your implementation is ready. Also you can learn how to enter vat purchase and vat sales and input & output tax, cst Note :If any videos on youtube unable to here the voice follow these steps Open the youtube video copy the URl Open VLC Media Player Go to Media Select network team Paste the URL and click on play Increase the valume upto 400% thats it
Views: 313714 Subramanyam Gaddam
Prepare GSTR 3B for July & August 2017 by Tally ERP 9
Latest Class of GSTR 3B - Uploaded in November 2018 : https://www.youtube.com/watch?v=ExXNXRXNB6E Visit us : https://www.onlinecca.com/
Views: 582434 Amar Jeet Singh
How to Process Bank Reconciliation in QuickBooks Online
Get Your QuickBooks Online 30 Day Free Trial: https://app.fitsmallbusiness.com/goto/quickbooks-course-youtube/ In this lesson, we’re going to cover how to reconcile bank accounts in QuickBooks Online. ====================================================== Access Our Course On How To Set Up QuickBooks Online: http://fitsmallbusiness.com/how-to-set-up-quickbooks-online ====================================================== How to Prepare a Profit and Loss Statement in QuickBooks Online: https://fitsmallbusiness.com/profit-and-loss-statement-sample-quickbooks-online/ How to Prepare a Balance Sheet Report With Example in QuickBooks Online: https://fitsmallbusiness.com/balance-sheet-example-quickbooks-online/ Small Business Bookkeeping & Accounting: The Ultimate Guide: https://fitsmallbusiness.com/small-business-bookkeeping-accounting-the-ultimate-guide/ How to Write & Print Checks in QuickBooks Online: https://fitsmallbusiness.com/quickbooks-check-printing/ How to Record Bank Deposits in QuickBooks Online: https://fitsmallbusiness.com/bank-deposits-quickbooks-online/ ====================================================== Subscribe For More Videos On How To Set Up QuickBooks Online and help your business succeed http://www.youtube.com/subscription_center?add_user=FitSmallBusiness ======================================================
Views: 17059 FitSmallBusiness
Finance Class - Solving for a PLUG Variable
Finance Class - Solving for a PLUG Variable. ABC Company.The company has predicted a sales increase of 21 percent. It has predicted that every item on the balance sheet will increase by 21 percent as well. Create the pro forma statements and reconcile them. What is the plug variable here?
Views: 3292 Tim Liptrap
Bank Reconciliation Statement (Correcting Check Errors, NSF Checks On Cash Balance)
Accounting to determine the proper amount of cash which should be reported on the company's balance sheet when there are errors in recording checks either as deposits from customers (including NSF checks) or expenditures by the company and corrections for cash receipts or disbursments by the company's bank that which have not been recorded on the company's books, example shows how these errors affect cash account per the company's books and how to calaculate the amount of cash increase or decrease based on the type of error (check amount written does not agree with the amount recorded on the books either as a disbursement or receipt), example shows how to reconcile a companys bank statement to the balance per the companys books for all the addition and deduction items apprearing in the "Balance per Depositors (companys) Books" section of the bank reconcilation schedule to determine the correct cash balance per the company's book, detailed accounting example by Allen Mursau
Views: 21053 Allen Mursau
How to Perform a Cash Reconciliation in Cashflow Manager Small Business Accounting Software
http://www.cashflow-manager.com.au/ How to perform a cash reconciliation in Cashflow Manager. What is a cash reconciliation? A cash reconciliation is a check that the cash on hand per your records equals the actual balance of the cash on hand.
Views: 320 CashflowManager
Book vs. Tax Income (Accounting for Taxes)
This video discusses the difference between book income and taxable income in the United States. Book income is pre-tax financial income that is reported on an accrual basis in accordance with U.S. GAAP (generally accepted accounting principles). Book income is the income that is reported on the financial statements (the Income Statement). Taxable income, on the other hand, is that which is computed for purposes of filing the corporation's income tax return. There are many differences between book income and taxable income. This is because book income and taxable income have different objectives. Book income measures the change in a corporation's wealth and is used by investors and creditors to predict the timing and certainty of the firm's cash flows. Taxable income is computed on a modfied cash-basis and is based on the ability-to-pay doctrine (when a taxpayer receives cash, he or she is able to pay the tax on it even if the revenue hasn't been "earned"). Taxable income is used to compute the firm's tax due to raise revenue for the United States government. The differences between book and tax income can be temporary (this means the difference will reverse in a future period) or permanent (this means the difference never reverses). Edspira is your source for business and financial education. To view the entire video library for free, visit http://www.Edspira.com To like us on Facebook, visit https://www.facebook.com/Edspira Edspira is the creation of Michael McLaughlin, who went from teenage homelessness to a PhD. The goal of Michael's life is to increase access to education so all people can achieve their dreams. To learn more about Michael's story, visit http://www.MichaelMcLaughlin.com To follow Michael on Facebook, visit https://facebook.com/Prof.Michael.McLaughlin To follow Michael on Twitter, visit https://twitter.com/Prof_McLaughlin This video was funded by a Civic Engagement Fund grant from the Gephardt Institute for Civic and Community Engagement at Washington University in St. Louis.
Views: 24752 Edspira
Income Tax Accounting (IFRS) | Calculating Deferred Tax Expense - Part 3 of 4
Following from our previous segment, this video will take you step-by-step through the differed tax calculation. __ Previous Video - Income Tax Accounting (IFRS) | Calculating Current Income Tax Expense - Part 2 of 4: https://youtu.be/bx3uBdDjN3M Next Up - Income Tax Accounting (IFRS) | Journal Entries and Financial Statement Presentation - Part 4 of 4: https://youtu.be/7oj4mov9S6o
Views: 11077 HumberEDU
Incoming Payments and Bank Reconciliation in SAP Business One
Are you looking to become more efficient using your SAP Business One software? Join us for this webinar to acquire neccesary information for the new Bank reconciliation report in version 8.8. Michell Consulting has introduced our new webinar series on tips and tricks, we will continue to show you how to get the most out of your SAP business software. During this Webinar we will discuss an intro to SAP incoming payments and deposits; as well as the new bank reconcilliation report for version 8.8. A few items to be considered: •Bank statement reports •Entering bank fees and charges •Reconciliation Report •Overview of the process Feel free to Subscribe above and comment below! For more videos go to our website:michellgroup.com Also, don't forget to follow us on Twitter: http://twitter.com/michellgroup And Like us on Facebook: http://www.facebook.com/michellgroup For more information or help, please feel free to contact us at any time. Michell Consulting Group 8240 NW 52nd Terrace, Suite 410 Doral, Florida 33166-7766 1-800-442-5011 or (305) 592-5433 Michell Consulting Group specializes in ERP software and managed IT services, providing each client with unparalleled service and support. Michell Consulting is a SAP Gold Partner.
Tally Balance Sheet How To
Example of a teaching course in Tally at Medh Academy in Hindi language. You can view more details at http://www.MedhAcademy.com
Views: 159566 Medh Academy Courses
ACCA FA1 kaplan Financial transactions in urdu/hindi Part 2
Financial records: Key bookkeeping accounts The most common bookkeeping accounts used by small businesses include: Cash (regularly a debit balance): Most business transactions will go through your cash account. The transactions can be divided between cash receipts (debit to cash) and cash disbursement (credit to cash). At the end of each month, you should reconcile the bank account for any outstanding transactions or errors (for example, when you write a cheque, it should be recorded in your accounting records. However, it may not clear the bank on the same day and if it is still outstanding at the end of the month, it should be listed as an outstanding cheque). The total reconciling items should account for the difference between the dollar amount on the bank statement and the dollar amount in the accounting records. Accounts receivable (a debit balance): This is money due from your customers, mainly for products and services sold for which the company has yet to receive payment. A sub-ledger shows the details of each account and all of the sub-ledgers should be reconciled to the total accounts receivable listing to ensure they balance. (This may be done automatically by some bookkeeping software.) Inventory (a debit balance): This may be the ready-to-sell, work-in-progress or raw-goods inventory. Physical counts of inventory should take place periodically to make sure that the accounting records agree with the actual inventory on hand. Tracking and allocating portions of inventory can be very complex. Variances between actual and accounting inventory can result from inaccurate tracking of raw inventory used and finished goods sold, or can be the result of theft. Accounts payable (a credit balance): Similar to accounts receivable, your payables usually represent money owed by the business to its suppliers. It can also include amounts payable to its employees or to the Canada Revenue Agency for taxes, including GST/HST or payroll deductions. Again, it is important to reconcile the accounts and ensure that what is recorded here is for current and ongoing obligations. Loans payable (a credit balance): These are amounts that have been loaned to the company. Often in small companies, these will be from shareholders or friends and family. It is important to be aware of any interest that is to be charged on these loans, even if the company is not currently paying it. Sales (a credit balance): Income earned by a company for selling its products or services. Expense accounts (debit balances): These accounts record all of the expenses incurred by the business. Expenses should be divided into general types such as office expenses, rent, insurance and cost of goods sold, which is a calculation based on inventory purchased and used in the period. Expenses can be further divided into groupings for each project or function (e.g., “rent: manufacturing division” or “supplies: Project A”). Payroll expenses: For many companies this is one of the biggest expenses. These accounts include salary paid to the employees, vacation paid, employee benefits and the company’s portion of Canada Pension Plan (CPP) and Employment Insurance (EI) contributions. FILED UNDER Accounting Taxation RECOMMENDED Using bookkeeping software to manage your financial records Financial Planning for Startups
Views: 736 Bilal Shahzad
How to calculate conversion ratios using Excel Pivot tables
Visit http://chandoo.org/wp/2013/03/06/finding-conversion-ratio-using-pivot-table-calculated-items/ to get the file & read full explanation of this. Learn how to use Pivot table calculated items to calculate conversion ratio in Excel
Steps for Automatic Calculation of Interest in Tally 9
in this video , you will see different steps for automatic calculation of interest on loan in tally 9. For more read, you can visit and search http://www.svtuition.org
Views: 118548 Svtuition
Tally Erp 9  tutorial -  Use of some important  keys in Tally
Tally Erp 9 Part - 2 : Learn How to Rectify the mistakes and modify the transaction with some shortcut keys. Learn alter and delete the Account Head and Voucher Entry, Also learn use of some important Short Keys in Tally ERP 9.
Views: 75845 Amar Jeet Singh

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