Category: Bookkeeping

You should periodically evaluate the individual items recorded in the non trade receivables account to see if the company is still likely to receive full payment. If not, reduce the amount in the account to the level you expect to receive, and charge the difference to expense in the period in which you make this… Continue reading Accounts Receivable AR: Definition, Uses, and Examples

Employers depositing taxes semiweekly explain their tax liability for their deposits on Schedule B. There is a next-day deposit requirement for taxes exceeding $100,000. Taxes of less than $2,500 can be paid with the form and need not be deposited. Part 2 will ask you about your deposit schedule and tax liability; semiweekly depositors (with… Continue reading How to Figure Monthly 941 Taxes