Accounting Tools

NOVEMBER 3, 2023

This can result in a change in taxes payable or refundable in future periods. Related Articles Accounting for Deferred Taxes Deferred Income Tax Liability Deferred Tax Asset Deferred Tax Liability A deferred tax asset is a tax reduction whose recognition is delayed due to deductible temporary differences and carryforwards.

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Accounting Tools

JULY 21, 2023

The concept is used to earn an immediate tax refund from the Internal Revenue Service, thereby recovering taxes paid in prior years. A carryback is more valuable than a carryforward, since a carryback results in the immediate return of cash via a refund, while the positive impact of a carryforward may not be felt for many years.

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Xero

AUGUST 22, 2023

This AI assistant will draw on Xero Central articles, providing relevant answers and information to key questions, and guiding them on how to complete tasks. The new experience will help small businesses manage more of their payments directly in Xero, as well as view payment transaction details and issue refunds to customers within Xero.

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Accounting Tools

SEPTEMBER 20, 2023

Doing so results in a refund of taxes paid in prior years. Related Articles Net Operating Loss Carryback and Carryforward What is a Loss Carryback? A loss carryback is the offsetting of a current year tax loss against the reported taxable profit of previous years.

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Counto

MAY 9, 2024

Urgent Updates with IRAS If there’s an urgent need to update your address with IRAS, perhaps for receiving important tax correspondences or refunds promptly, you can expedite this process. Counto’s goal is to take away the complexities of compliance, and save you time and money throughout the year.

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Accounting Tools

OCTOBER 12, 2023

Simple journal entries are commonly used for minor transactions , such as to record a purchase, a sale, or a refund. Related Articles Accounting Journal Entries Accrual-Type Adjusting Entries Correcting Entry Deferral-Type Adjusting Entry Types of Adjusting Entries These entries are called compound journal entries.

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Accounting Tools

NOVEMBER 6, 2023

Example of a Nested Booking Limit For example, an airline sets up a booking limit on a forthcoming flight, where 75 seats are priced at $100 each and 25 seats are priced at $200, with no refunds allowed for the $100 tickets. Related Articles Booking Limit Reference Price

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Intuit

MAY 18, 2023

For example, help articles point filers directly to the portion of the tax form they need to update. Also in TurboTax, filers are given immediate, personalized explanations for why a tax refund may be larger or smaller than expected.

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Accounting Tools

FEBRUARY 3, 2024

A cash disbursement can also be made to refund a customer , which is recorded as a reduction of sales. Related AccountingTools Course Payables Management Related Articles Check Payment Electronic Payment Procedure The Payment Factory What is a Cash Disbursement?

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Cloud Accounting Podcast

DECEMBER 13, 2023

46:25) - The traditional CPA firm structure (50:10) - Blake asks AI to explain basis to a non-accountant (56:27) - AccountingWeb tricks to help detect AI-written articles (59:09) - Wrap up and how to reach us Show Notes Twitter: Any good plain-English way to explain basis?

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Accounting Tools

SEPTEMBER 27, 2023

Related Articles Bond Refunding Deleveraging Debt may also be retired by incurring a new debt and using the resulting funds to pay off the old debt. A third approach is to issue serial bonds , where the bonds mature on different dates, allowing for a staggered repayment schedule.

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Accounting Tools

SEPTEMBER 26, 2023

How to Calculate Equivalent Taxable Yield The calculation of equivalent taxable yield is as follows: Tax Free Bond Yield / (1 – Marginal tax rate) Related Articles Bond Refunding Bond Sinking Fund How to Calculate the Carrying Value of a Bond How to Calculate the Issue Price of a Bond

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Billah and Associates

MARCH 16, 2023

This article will highlight some tax deductions and credits in 2023 that Canadians can avail of and save money. Some of the top tax credits and tax deductions include:- GST/HST Tax Credit Families with children are eligible for the Goods and Services Tax/Harmonized Sales Tax Credit (GST/HST Credit), a refundable sales tax credit.

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Billah and Associates

OCTOBER 13, 2020

The biggest of them is that you can get refunds faster. Get refunds faster The first thing that a taxation service will tell you about filing taxes early is getting a quick refund. On average, people who file beforehand get their refunds earlier than most people. Here are a few of them – 1.

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Remote Quality Bookkeeping

JUNE 12, 2023

In this article, find the top scams you should beware of in this fast-growing digital world to keep yourself and your money safe. Scammers approach filers through advertisements or promotions and promise big refunds, which sounds very appealing. Their expert knowledge and guidance would facilitate you in dodging scams.

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Remote Quality Bookkeeping

JUNE 12, 2023

In this article, find the top scams you should beware of in this fast-growing digital world to keep yourself and your money safe. Scammers approach filers through advertisements or promotions and promise big refunds, which sounds very appealing. Their expert knowledge and guidance would facilitate you in dodging scams.

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Accounting Tools

JUNE 7, 2023

Impact of Cancellation Fees on Overbooking Some businesses minimize the need for overbookings by charging cancellation fees or making payments non-refundable, thereby providing an incentive for customers to follow through on their commitments.

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Counto

JANUARY 28, 2024

Manage Orders, Shipping and Refunds Efficient order and shipping management ensures customer satisfaction on Lazada Singapore. Maintain a clear and fair return and refund policy to resolve issues promptly and satisfy customers. Timely and accurate order fulfillment is essential.

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Accounting Tools

JUNE 17, 2023

In some cases, a lender may refund a commitment fee after the associated loan has been repaid by a borrower. Related Articles Finance Charge Floatation Cost Issuance Costs Offering Costs Original Issue Discount

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Accounting Tools

OCTOBER 5, 2023

The prices charged are typically at market rates, but cooperatives may distribute patronage refunds to their members, thereby reducing member costs. Related Articles Agricultural Producer One is the supply and service cooperative, which produces or buys goods and materials for its members.

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Accounting Tools

JANUARY 11, 2024

Examples of non trade receivables are amounts owed to a company by its employees for loans or wage advances, tax refunds owed to it by taxing authorities, or insurance claims owed to it by an insurance company. If this amount is quite large, consider putting it in a separate line item on the balance sheet.

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Accounting Tools

APRIL 30, 2023

Examples of cash inflows from operating activities are cash receipts from the sale of goods or services, accounts receivable , lawsuit settlements, normal insurance settlements, and supplier refunds. The other type of cash flow is cash flows from investing activities.

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Counto

JANUARY 12, 2024

In this article, we will delve into what AIS is, why it is crucial for employers, and how it benefits both businesses and employees. Form IR8S: This supporting form contains details of excess or voluntary CPF contributions by the employer and refunds from CPF board, to be submitted when applicable. What is Auto-Inclusion Scheme (AIS)?

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Accounting Tools

AUGUST 5, 2023

Examples of cash inflows from operating activities are cash receipts from the sale of goods or services, accounts receivable , lawsuit settlements, normal insurance settlements, and supplier refunds.

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Accounting Tools

NOVEMBER 6, 2023

Related Articles Bond Indenture Bond Refunding Retirement of Bonds Also, a bond sinking fund introduces a potentially large amount of cash to the balance sheet, which can be misconstrued by investors as being available for other uses; hence the need to clearly identify the use of its funds specifically to retire bonds.

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Outsourced Bookeeping

NOVEMBER 6, 2023

This article highlights six vital tax principles and tax saving strategies aimed at empowering beginners to navigate the types of tax planning and tax landscape with confidence. Even more choices for electronic filing are offered by many of these programs, which can hasten the process of getting any potential refunds.

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CapActix

AUGUST 17, 2023

H&R Block Features Four different ways to prepare tax Real-time refund calculation Automated federal e-files Consolidated security Benefits It is extremely easy to migrate from TurboTax to H&R Block. Keep the top 10 software shared in this article in consideration while investing in tax preparation software.

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Counto

FEBRUARY 4, 2024

Step 2: List All Your Income For each week or month in your forecast, create columns for different types of income, including sales, tax refunds, grants, investments, royalties, or license fees. Keep in mind that your forecast should evolve as your business does, so regular updates are essential.

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Counto

JANUARY 14, 2024

You can apply for refunds, make adjustments, or shift excess contributions, depending on the situation. Contributions can be made online, via mobile apps, or at AXS stations. Correcting CPF Mistakes If you make errors in CPF contributions, there are steps to rectify them.

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Counto

JANUARY 8, 2024

If applying for voluntary GST registration, sign up for GIRO for GST payment and refund. Prepare the required supporting documents in soft copy before starting the application process. Mail the original GIRO application form to 55 Newton Road Singapore 307987 after submitting your GST registration application online.

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Nanonets

APRIL 18, 2023

In this article, we’ll provide a detailed look at how ACH payments work , why they’re better than checks or cards, and how to get started with ACH. They're also used for one-time payments such as online purchases, tax refunds, and charitable donations. How do ACH payments work?

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Cloud Accounting Podcast

MARCH 17, 2019

11:54 -- The State of Louisiana accidentally double refunded about 66,000 taxpayers, resulting in about $26 million in overpayments the state is working to claw back. 33:50 -- A fun and enlightening conversation ensued on Twitter after Accounting Today published an article called “ Why is your firm worth less than you think?

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Nanonets

APRIL 15, 2024

Integrate Nanonets Reconcile financial statements in minutes Try for Free This article presents the importance of bank reconciliation statements and provides insights into the benefits of automation in the generation of bank reconciliation statements.  

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Nanonets

OCTOBER 15, 2023

In this article, we will compare PayPal and Stripe, and help you understand the key differences so that you can make the best decision for your business. The payment processor will investigate the claim and, if it finds in favor of the customer, will refund the customer’s money and deduct the amount from the merchant’s account.

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Jetpack Workflow

JUNE 22, 2023

In this article, we’ll highlight what we’ve found to be the top client onboarding tools you can implement in your practice. The client’s first impression is on the line, so you want to be sure you get the onboarding process done right. The one you choose will depend on how many active clients you need to support, among other features.

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Spenmo

NOVEMBER 3, 2022

This article will discuss some challenges of company expense policy implementation and the steps in creating an effective expense reimbursement policy. Prepare for disputes Some employees may claim they deserve refunds for a business expense, even though it exceeds the allocated budget.

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Counto

JANUARY 18, 2024

Form IR8S : This form becomes relevant if you have made excess CPF contributions on your employee’s wages or if you have claimed or intend to claim a refund on excess CPF contributions. These gains or profits from shares purchased through such plans are subject to taxation. Who Requires IR8A Forms?

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