Accounting Tools

SEPTEMBER 23, 2023

A payroll deduction is typically intended to pay taxes, fund a pension, or reimburse the employer for all or a portion of certain expenses incurred on behalf of the employee. The employer tracks ongoing loan reimbursements, and terminates these deductions when the loan has been paid back.

Payroll 75

Payroll Tax Accounting Accounting 75

Accounting Tools

APRIL 8, 2024

Cost plus pricing can also be used within a customer contract, where the customer reimburses the seller for all costs incurred and also pays a negotiated profit in addition to the costs incurred. Related Articles Cost Based Pricing Full Cost Plus Pricing Marginal Cost Pricing Variable Cost-Plus Pricing Assured contract profits.

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Counto

JANUARY 27, 2024

Process Reimbursement On Time Timely payroll processing not only helps foster employee satisfaction but also contributes to better cash flow management. Our automated expense management software simplifies the reimbursement process, from recording and verifying expenses to issuing payments promptly. Want to schedule a demo?

Payroll 52

Payroll Record Keeping Billing Collections 52

Accounting Tools

MAY 10, 2024

Related AccountingTools Courses Revenue Management Revenue Recognition Related Articles Record Reimbursed Expenses as Revenue Revenue at Gross or Net Revenue Recognition Criteria Revenue Recognition Methods When to Recognize Revenue

Accruals 40

Accruals Accounts Receivable Accounts Receivable Account Receivables 40

Accounting Tools

APRIL 24, 2024

Bearer bonds must be securely stored, since someone who steals them could collect dividend payments on them, and submit them for reimbursement on the maturity date. Related AccountingTools Courses Corporate Cash Management Corporate Finance Treasurer's Guidebook Related Articles Serial Bond Types of Bonds

Corporate Finance 40

Corporate Finance Collections 40

Accounting Tools

SEPTEMBER 12, 2023

Related Articles Fringe Benefit Rate Post Retirement Benefits Short-Term Employee Benefits Termination Benefits In other cases, they must pay income taxes on the fair value of the benefit received.

Payroll 40

Payroll Tax 40

Accounting Tools

FEBRUARY 13, 2024

Related Articles How to Account for a Sales Discount How to Account for Customer Advance Payments Record Reimbursed Expenses as Revenue Revenue Accounts Why Revenues are Credited

Accounts Receivable 98

Accounts Receivable Accounts Receivable Account Receivables Tax 98

Accounting Tools

JULY 18, 2023

This policy covers lost profits from business interruption, as well as the reimbursement of actual expenses incurred during the period when a business cannot conduct its normal operations. The amount of reimbursement under this policy is based on a firm's profit history.

Payroll 40

Payroll 40

Accounting Tools

MARCH 11, 2024

Depending on the terms of a lease agreement, the lessee may reimburse the lessor for any executory costs incurred by the lessor, or the lessor may take responsibility for these costs. Related AccountingTools Course Accounting for Leases Related Article Lease Accounting

Tax 40

Tax Accounting Accounting 40

Spenmo

NOVEMBER 3, 2022

These costs are an extension of your business expenditures and should be part of your company expense reimbursement policy. Having a fair and effective expense reimbursement policy enables you to treat your employees fairly and show respect for the effort they put into their work.

Expense Reports 52

Expense Reports Budgeting Account Reconciliation Deposits 52

Nanonets

JANUARY 17, 2024

Standardize the Employee Reimbursement process Employees are conscious of whether costs are eligible or non-eligible for reimbursement as expenditure report has become a standardized practice of managing expense. However, the expense report facilitates the timely submission of expenditure reports with accuracy in reimbursement.

Expense Reports 52

Expense Reports Budgeting Account Reconciliation Accounts Payable 52

Accounting Tools

DECEMBER 22, 2023

This information may be required in order to submit the cost information to a customer under a contract where costs are reimbursed. This is most common in cost-reimbursement situations where the customer has contractually agreed to reimburse a company for all costs charged to a specific job.

Billing 75

Billing Computation Cost Accounting Accounting 75

Nanonets

MARCH 4, 2024

This capability streamlines expense reporting and reimbursement processes, minimizing errors and fraud. Chatbots for Expense Queries: AI-powered chatbots can provide instant assistance to employees with questions about expense policies, submission processes, or the status of reimbursements. Read more in our article below.

Data Entry 52

Data Entry Expense Reports Invoicing General Ledger 52

Accounting Tools

MAY 10, 2024

Related Articles Record Reimbursed Expenses as Revenue Revenue at Gross or Net Revenue Recognition Criteria When are Revenues Earned? Given these concerns, auditors tend to allocate more of their time to the examination of clients’ revenue recognition methods. When to Recognize Revenue

Collections 75

Collections Bookkeeping Billing Auditing 75

Accounting Tools

OCTOBER 21, 2023

Based on the 30% gross profit margin, this payment is comprised of $7,000 cost reimbursement and $3,000 of profit. Related Articles Deferred Credit Deferred Revenue Unearned Revenue Unrecorded Revenue ABC can now recognize $3,000 of gross profit, which reduces the balance in the deferred gross profit contra account to $27,000.

Accounts Receivable 74

Accounts Receivable Accounts Receivable Account Receivables Bookkeeping 74

Accounting Tools

AUGUST 29, 2023

An internal service fund is a fund used in governmental accounting to track goods or services shifted between departments on a cost reimbursement basis. Related Articles Fund Accounting An example of an internal service fund is a maintenance department that provides equipment maintenance services to other departments.

Auditing 40

Auditing Accounting Accounting 40

Accounting Tools

APRIL 28, 2024

This is reimbursement for training costs incurred by the employee, and may include the complete cost of earning a degree. Related AccountingTools Courses Human Resources Guidebook Payroll Management Related Articles Fringe Benefit Rate Post Retirement Benefits Short-Term Employee Benefits Termination Benefits Company car.

Payroll 40

Payroll Accounting Accounting 40

Accounting Tools

OCTOBER 27, 2023

If the debtor is subsequently unable to pay, then the unsecured creditor will not be eligible for reimbursement until the claims of all secured creditors have been settled. Related Articles Preferred Creditor An unsecured creditor is an entity that has extended credit to another party without first obtaining a collateral agreement.

Collections 40

Collections 40

Accounting Tools

JANUARY 30, 2024

This approach also speeds the rate at which the company is made aware of employee purchases; expenses submitted for reimbursement are sometimes not forwarded to accounts payable for months. Related AccountingTools Course Payables Management Related Article How to Record a Credit Card Payment

Data Entry 40

Data Entry Accounts Payable Accounts Payable Accounting 40

Accounting Tools

APRIL 9, 2024

The insurance policy does not cover the full reproduction cost of the church, so the diocese is forced to accept the replacement cost reimbursement instead, which means that the church will have to be rebuilt using modern replacements. Related Article Adequacy of Coverage

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Counto

JANUARY 10, 2024

Reimbursement: If your application is successful, you will receive notification from the agency regarding approval and details on how to claim reimbursements for AP expenses incurred during employee training or skills upgrading programs. How to Claim Absentee Payroll funding AP funding is provided at a fixed rate of S$4.50

Payroll 52

Payroll AP Collections Accounting Software 52

Accounting Tools

JULY 28, 2023

The proper accounting for this tenant improvement allowance depends upon whether the lessee will own the resulting leasehold improvements , and whether it is a direct reimbursement arrangement. Related Articles Depreciation of Leasehold Improvements How to Account for Leasehold Improvements The options are noted below.

Accounting 40

Accounting Accounting Management Accounting 40

Accounting Tools

JULY 14, 2023

For example, the amount of risk is too difficult to quantify, or the cost of the insurance would be too great, or incidents causing losses are expected to be quite frequent, or providing coverage is illegal, such as reimbursing for an illegal act.

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Accounting Tools

FEBRUARY 25, 2024

Activities may include an analysis of the contracts granted to contractors, prices paid, overhead costs allowed for reimbursement, change orders, and the timeliness of completion. Related Articles Contract Auditing Eligibility Audits Forensic Audit Fraud Audit Horizontal Audit Management Audit

Auditing 75

Auditing Payroll Financial Statements Tax 75

Accounting Tools

JUNE 20, 2023

The procedure is used to ensure that only authorized purchases are reimbursed, thereby preventing losses due to fraud and carelessness. Thus, the "three-way match" concept refers to matching three documents - the invoice, the purchase order, and the receiving report - to ensure that a payment should be made.

Purchase Order 75

Purchase Order Accounts Payable Accounts Payable Invoicing 75

Accounting Tools

AUGUST 4, 2023

Alternatively, the funds may be paid in response to the submission of an expense report by an employee, in which case the funds are referred to as a reimbursement. An advance is initially recorded as a current asset , while a reimbursement is immediately recorded as an expense as incurred.

General Ledger 40

General Ledger Accounting Accounting Expense Reports 40

Accounting Tools

NOVEMBER 4, 2023

Business insurance is designed to reimburse an organization for certain specified losses. This policy covers lost profits from business interruption, as well as the reimbursement of actual expenses incurred during the period when a business cannot conduct its normal operations.

Accounting 40

Accounting Accounting 40

LedgerDocs

JULY 6, 2023

But collecting and organizing these documents can be a daunting task.

Collections 97

Collections Bookkeeping Petty cash Purchase Order 97

Accounting Tools

JUNE 17, 2023

If the check subsequently bounces, the merchant uses the authorization number to obtain reimbursement from the guarantor. Related Articles Credit Insurance Credit Rating Credit Report Five Cs of Credit

Collections 40

Collections Accounting Accounting 40

Accounting Tools

JUNE 6, 2023

Related Articles How Revenue Affects the Balance Sheet Recording Reimbursed Expenses as Revenue Revenue at Gross or Net The Difference Between Gross Sales and Net Sales The Difference Between Unearned Revenue and Unrecorded Revenue When are Revenues Earned?

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Accounting Tools

FEBRUARY 8, 2024

Cost Buildup Aggregate all of the related costs sustained by the company during the event, for which it may be possible to claim reimbursement. Related Article Accounting for Insurance Proceeds To be certain, contact the insurer directly to verify that the claims adjuster information is still accurate.

Auditing 40

Auditing Accounting Accounting 40

Spenmo

NOVEMBER 1, 2022

Organisations may need to adopt an automated system to hit business targets—monitor expense report compliance, manage the increasing reimbursement volumes, and empower employees and finance teams to focus on value-adding tasks. These activities take time and can distract your employees from working on core business functions.

Expense Reports 52

Expense Reports Account Reconciliation Budgeting Billing 52

Accounting Tools

NOVEMBER 8, 2023

The Difference Between Trade Receivables and Non Trade Receivables Trade receivables vary from non trade receivables in that non trade receivables are for amounts owed to the company that fall outside of the normal course of business, such as employee advances or insurance reimbursements.

General Ledger 40

General Ledger Accounts Receivable Accounts Receivable Account Receivables 40

Accounting Tools

MARCH 1, 2024

Cost Plus Contract Under a cost plus contract , the price to be paid consists of reimbursement for costs incurred, plus a profit percentage. Related AccountingTools Courses Auditing Construction Contractors Construction Accounting Real Estate Accounting Related Article Retainage

Budgeting 40

Budgeting Auditing Accounting Accounting 40

Accounting Tools

NOVEMBER 6, 2023

Paperless Expense Reporting One of the more popular paperless options is to have employees log onto a website that specializes in expense report reimbursement. Related Articles Accounting Information System Online Processing The Paperless Accounting Office (podcast) Types of Accounting Software Several examples are noted below.

Accounting 40

Accounting Accounting Expense Reports Payroll 40

Accounting Tools

AUGUST 5, 2023

These funds are used to account for activities that provide goods or services to other funds, as well as departments or agencies of the primary government, or to other government entities on a cost-reimbursement basis. Related Articles Governmental Accounting Social Accounting Private-purpose trust funds.

Accounting 74

Accounting Accounting Budgeting Auditing 74

Accounting Tools

JANUARY 30, 2024

Fee Reimbursement Clause If the company needs to pay a third party, such as a collection agency or attorney, to collect from the applicant, the applicant agrees to pay these fees. Related Articles Credit Analysis Credit Granting Procedure Credit Policy Credit Policy Sample The On-Line Credit Application

Collections 40

Collections Invoicing Accounting Accounting 40