Category Archives: Bookkeeping

15 Short Cover Letter Examples & Step-by-Step Guide for 2025

I look forward to the potential opportunity to discuss how I can contribute to your financial team. I am well-versed in various tax laws, regulations, and industry best practices. My strong analytical skills, combined with my ability to stay up-to-date with the latest tax developments, have enabled me to identify tax-saving opportunities and minimize tax […]

recording depreciation expense for a partial year 6

Partial Year Depreciation ACCT 2101, University of Georgia In this example, the depreciation will continue until the credit balance in Accumulated Depreciation reaches $10,000 (the equipment’s depreciable cost). If the equipment continues to be used, no further depreciation expense will be reported. The account balances remain in the general ledger until the equipment is sold, […]

Nonprofits: How to report collaborative activities

Accrual accounting allows you to match your expenses to the revenue they generate, so you can make more informed decisions and better projections. This explains why it is the most recommended option required by Generally Accepted Accounting Principles (GAAP) for nonprofits. This means that if you receive a pledge from an individual or organization but […]