They can handle various transactions and are reloadable for continued use. However, this usually means they’re free to get — but not necessarily free to use. That makes it very important to check over the full range of costs you might pay when you transact. You’ll need to add money to your prepaid card before […]

Each year of an asset’s life, another year of Depreciation Expense is recorded. The offset to the Depreciation Expense account is Accumulated Depreciation. My Accounting Course  is a world-class educational resource developed by experts to simplify accounting, finance, & investment analysis topics, so students and professionals can learn and propel their careers. In other words, […]

This can be an inexpensive way to raise money, depending on the prevailing interest rates, but requires more management than a simple loan. When a company needs money, financing is often the first line of defense. Debt financing is when a company borrows money with the intent of repaying it to cover costs. Whether you’re […]

When setting up a company in QuickBooks, opening balances for assets, liabilities, and equity accounts may need to be added to reflect the starting point of the financial data. The Opening Balance Equity account acts as a clearing account to temporarily hold any difference arising from these entries, ensuring the equation remains intact until all […]

The company also offers business foundation and management services including entity type analysis, accounting system setup, retirement plan analysis, and credit card rewards. An online platform that completely digitizes personal income tax processing from document upload to signature and filing is also available. The Certified Public Accounting firm of AJ Siddiqui is located in St. […]