Adam Hill, author at Online Accounting

Adam Hill started accounting and trading back in 2007. He has achieved quite a lot of success. Now he decided to open his blog. Here he publishes articles on accounting. For any questions of interest, please contact us by e-mail: admin-hill@online-accounting.net

Deductible business expenses: Rules for Deducting Business Expenses on Federal Taxes

Jun 23, 2023 Bookkeeping by Adam Hill

A franchise includes an agreement that gives one of the parties to the agreement the right to distribute, sell, or provide goods, services, or facilities within a specified area. When determining the term of the transfer agreement, include all renewal options and any other period for which you and the transferor reasonably expect the agreement
Read More

Debits and credits: Debit vs Credit: Bookkeeping Basics Explained

Jun 22, 2023 Bookkeeping by Adam Hill

In the below example, Jaclyn, the owner of a coffee shop, purchased an espresso maker. While the new espresso maker is an asset that is increasing, the supplier of the espresso maker agreed to bill Jaclyn at a later date. As such, this liability is increasing, as Jaclyn now owes that money to her supplier.
Read More

Day to day bookkeeping: Basic Day to Day Bookkeeping Principles

Jun 22, 2023 Bookkeeping by Adam Hill

He uses a paper ledger to keep track of this and records each employee’s name, how much they made, and which client it was for. I also split out the office supplies from the office software supplies. In the chart of accounts, usually these are together, but I prefer to separate them. For this client,
Read More

Cpa vs accountant: CPA vs Accountant: 5 Big Questions To Consider

Jun 22, 2023 Bookkeeping by Adam Hill

For example, daycare can be a considerable expense for young working families, and an on-site daycare could save thousands of dollars and dozens of hours in commuting each year. At the same time, some people dislike the bureaucracy that comes with larger organizations, and they’re happier at the end of the day if they have
Read More

Cost of debt: Cost of Debt: What It Means, With Formulas to Calculate It

Jun 22, 2023 Bookkeeping by Adam Hill

A company’s total cost of debt is calculated by adding total interest expense and dividing it by total debt. The cost of debt is a critical measure because it directly impacts a company’s profitability and cash flow. A high debt cost also indicates a higher level of financial risk for a company. A business’s cost
Read More