ADP RUN articles

Many companies use a multi‐column (columnar) sales journal that provides separate columns for specific sales accounts and for sales tax payable. Each line in a multi‐column journal must contain equal debits and credits. For example, the entries in the sales journal to the right appear below in a multi‐column sales journal that tracks hardware sales, plumbing sales, wire sales, and sales tax payable. Individual entries are still posted daily to the accounts receivable subsidiary ledger accounts […]

These include accounting reports, invoices, and sales receipts where the company sells products. Internal source documents can be used to keep records and track business activity over time. Before recording a business transaction in your business’s accounting books, you must be sure that you’re reporting the correct transaction date, payer, payee, and amounts. Source documents are the physical proof of this information, providing a reference point for the bookkeeping process. They […]

He handles all of his clients’ cases by himself and does not have any other lawyers working with him. To many architects, practicing as an SPA is a stepping stone to growing a firm. It is a place to start until you build a project volume or client base to get more projects and hire staff. Many look at this time as “roughing it” until you can grow your practice. Examples of professions in which sole practitioners are common are auditing, law, and medicine. Given the specialize […]

For tax purposes, a long-term gain or loss means the security is held for a year or longer before being sold. In addition, this has implications because the long-term investing activity is typically separated from short-term trading on tax forms. The accounting profession uses current assets and current liabilities to perform analysis, and in the investing industry, a security with a holding period of one year or less is considered a short-term security. At year-end, companies adjust the book […]

We work with vendors around the country who work hard and use all kinds of ink, machines, and resources to customize your items. The setup charge helps them keep everything running smoothly. The setup fee for engraving may be higher than other printing methods due to the technology and process required to transfer your design to the laser machine. You most often see embossing, debossing and foil stamping on paper goods like notebooks, as well as leather and leather-look products like padfolios […]

Being proactive in developing the roles and tasks of the customer service department, means companies have a better chance of satisfied customers, which in turn means a more successful business overall. There are various methods for allocating service department costs to operating departments. However, the three commonly used methods are direct method, step down method and reciprocal method. The costs incurred by the service departments are considered to be indirect manufacturing costs that ul […]