Suspense Account A suspense account is an account that is recorded in the general ledger and is used to book transactions only transiently. It is employed ...

Straight Line Depreciation Calculator The most common approach to determining depreciation is known as straight line depreciation. This amount is applied to ...

Payroll Tax FAQ Payroll accounts have an importance of their own when it comes to your business and so it becomes mandatory to manage them appropriately. ...

Payroll Options for Small Businesses When it comes to small businesses, there are numerous payroll options that can be employed. Let’s have a look at the ...

Meaning of Debit Memo on a Bank Statement The deduction from the bank account’s balance is termed as a debit memo on a bank statement. So, a debit memo ...

Line of credit In business, a line of credit or credit line may be regarded as an agreement by a bank or other creditor with its client. This arrangement is ...

Letter of Credit It is a document that is generated by a bank for use by one of its clients. This document expresses the bank’s willingness to guarantee the ...

How to calculate shareholder's funds The amount of equity belonging to the shareholders in a company is referred to as shareholder’s funds. The amount of ...

General Ledger A collection of plenty of accounts that are utilized to record and sort information from a company’s financial transaction is known as a ...

Fundamental Accounting Formula Double-entry accounting is logically predicated on the fundamental accounting formula. The formula is mentioned below: ...