Double declining balance depreciation is a method of depreciation that allows you to expense more depreciation in the early years of the life of an asset and less in later years. This can be beneficial for assets like cars and computers which lose a greater portion of their value in the early years after you…
All Accounting Articles - Page 16
How to Calculate Sum of the Years Digits Depreciation Method
Sum of the years digits depreciation (SYD) is an accelerated depreciation method that lets you expense more of an asset’s cost in the early years of use than its later years. SYD depreciation cannot be used for tax purposes or to calculate your tax deduction. However, it is acceptable for accounting purposes. It is especially…
MACRS Depreciation Tables & How to Calculate
MACRS stands for “Modified Accelerated Cost Recovery System.” It is the primary depreciation methods for claiming a tax deduction. Of course, like all things accounting, depreciation can be tricky and it’s impossible to remember all the intricate details. Click below to download our free ultimate guide to Macrs depreciation. Download Our Free Guide If you’d…
How to Run an Accounts Payable Aging Report in QuickBooks Online
Welcome to the Fit Small Business QuickBooks Online training course! In this lesson, we’re going to cover the importance of reviewing your Accounts Payable Aging report and how to run an A/P Aging Report with samples, in QuickBooks Online. You can follow along on your own account. If you don’t have one already, and follow…
How to Run a Statement of Cash Flows in QuickBooks Online
Welcome to the Fit Small Business QuickBooks Online training course! In this lesson, we’re going to cover the importance of reviewing your statement of cash flows and how to prepare a statement of cash flows with examples in QuickBooks Online. You can follow along on your own account. If you don’t have one already, and follow…
How to Prepare a Balance Sheet Report With Example in QuickBooks Online
Welcome to the Fit Small Business QuickBooks Online training course! In this lesson, we’re going to cover the importance of reviewing your balance sheet report and how to run a Balance Sheet report in QuickBooks Online. We’ll also show you a balance sheet example. You can follow along on your own account. If you don’t…
How to Prepare a Profit and Loss Statement in QuickBooks Online
Welcome to the Fit Small Business QuickBooks Online training course! In this lesson, we’re going to cover the importance of reviewing your profit and loss statement and how to prepare a Profit and Loss statement in QuickBooks Online with samples. You can follow along on your own account. If you don’t have one already, and follow along below….
How to Manage Credit Card Sales with a 3rd Party Credit Card Processor in QuickBooks Online
Welcome to the Fit Small Business QuickBooks Online training course! In this lesson, we’re going to cover how to manage your credit card sales in QuickBooks Online if you’re using a third party credit card processor. You can follow along on your own account. If you don’t have one already, and follow along below. To…
How to Manage Credit Card Sales with Intuit Merchant Services
Welcome to the Fit Small Business QuickBooks Online training course! In this lesson, we’re going to cover how to manage your credit card sales with Intuit Merchant services, which is currently known as Intuit Payment, in QuickBooks Online. You can follow along on your own account. If you don’t have one already, and follow along…
How to Transfer Funds Between Bank Accounts in QuickBooks Online
Welcome to the Fit Small Business QuickBooks Online training course! In this lesson, we’re going to cover how to transfer funds between bank accounts in QuickBooks Online. You can follow along on your own account. If you don’t have one already, To complete this lesson, you can either watch the video below, read through the…
What do New Zealand sheep farmers know about innovative accounting? An interview with Xero’s Russell Fujioka
I have interviewed dozens of CEOs and senior executives in the small business space. The term “southern hemisphere” has only come up in one interview. Recently, I interviewed the U.S. President of (XRO NZE), Russell Fujioka. The conversation briefly turned to New Zealand sheep farmers and herd management. His company, , is very well known…
The Value Of Time: An Interview With Bank Of America’s Will Barr
Bank Of America defines small businesses as companies with less than $5 million dollars in annual revenues. They serve approximately 3 million small business customers that have around $80 billion dollars of deposits with Bank Of America. Fit Small Business is a satisfied Bank of America client. We have our business checking and saving accounts…
