Accounting Blog - Online Accounting

Learn How to Make an Invoice Look Professional and Get Paid Faster

Jan 22, 2022 Accounting Blog by Adam Hill

An invoice is a document that is always drawn up by the seller and sent to the buyer. The document contains a record of goods, their quantity and the price at which they were delivered, formal features of the items (color, weight), delivery conditions, information about the sender and recipient, their bank details. What are
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Tax Liability: Explanation and Calculation

Jan 17, 2022 Accounting Blog by Adam Hill

Taxes are confusing, but you are not alone. In this article, we clear up some basic terminology and explain the meaning of tax liability. We also explain how you can estimate your tax liability so you would not be facing a huge tax bill when it is time to submit your tax return or pay
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Explanation of Schedule C

Jan 10, 2022 Accounting Blog by Adam Hill

So, what is a Schedule C? It is a tax basis profit and loss for the past accounting period. The purpose of this form is to get a net profit (net taxable income) you have received thanks to the activity you are doing as a self-employed person. This fi...

Payroll Expenses: Explanation and Journal Entries

Jan 3, 2022 Accounting Blog by Adam Hill

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Marginal Cost Formula and Explanation

Dec 29, 2021 Accounting Blog by Adam Hill

Along with average, total, and other types of costs, it is worth considering marginal costs. This type of cost represents how much a manufacturer will have to spend per unit of goods if it increases its output (or saves with a reduction in production...