Payback Period Explained, With the Formula and How to Calculate It

If one has a longer payback period than the other, it might not be the better option. To determine how to calculate payback period in practice, you simply divide the initial cash outlay of a project by the amount of net cash inflow that the project generates each year. For the purposes of calculating the […]

What is Yardi? Property Management Software Explained

Because of the vast customizability of Voyager, pricing varies based on the services you pick. This makes it easy for you to select a cost-effective package that fits the needs of your portfolio. From simple to-dos to more sophisticated initiatives, Yardi helps streamline property management so your teams can focus on growing your business—instead of […]

Xero vs Sage 2024 Comparison

We recommend working with an accountant or bookkeeper, preferably one with Xero experience, when you make the move to Xero online accounting software. Looking at Xero vs. Sage, you can see they stack up quite well. Because both software come with a 30-day free trial, you’ll have plenty of time to give each a test […]

The Complete Guide to Outsourced Accounting

In fact, you can outsource your entire back-office accounting function to RSM, flexibly and affordably. Our technology can automate and integrate your transaction workflow, giving you real-time visibility into your business and freeing you to concentrate on your core competencies. By considering these factors, you can make an informed decision to outsource your accounting and […]

Closing Entries in Accounting: Everything You Need to Know +How to Post Them

As the drawings account is a contra equity account and not an expense account, it is closed to the capital account and not the income summary or retained earnings account. The income summary account is an intermediary between revenues and expenses, and the Retained Earnings account. It stores all of the closing information for revenues […]

Closing Entries

However, to get a more accurate picture of your actual return, this rate needs to be adjusted for inflation, as the purchasing power of your money has likely changed over the one year. Therefore, if inflation for that year is 4%, the real rate of return is only 6% or the nominal rate of return […]

Florida Tax Calculator 2023-2024: Estimate Your Taxes

For further clarification regarding rental income tax, calculating depreciation, and QBI deduction, talk to your accountant or CPA. For depreciation and improvements to your property use Form florida income tax 4562. This allows you to report depreciation from the year you began leasing your rental property. Note that you’ll only be able to deduct a […]

Free Receipt Template & FAQs

A receipt is an acknowledgment that a party received payment for a transaction. You can use a receipt in your business to show you or your customer purchased goods or services. It may also acknowledge receipt of an item of value for how to fill out a receipt book safekeeping. They provide proof of payment […]