Holiday pay and entitlement reforms from 1 January 2024

Depending on which days she takes off as leave, it will either be 6 hours or 9 hours from her total leave entitlement. Therefore, statutory leave entitlement should be calculated in days, and then multiplied by the average length of the working day. The 12.07% figure...

What is Double-Entry Accounting?

Double-entry accounting also serves as the most efficient way for a company to monitor its financial growth, especially as the scale of business grows. When a company’s software prepares a check, the software will automatically reduce the Cash account....

Reconcile an account in QuickBooks Desktop

Accurately reconciling your accounts will take some time; however, the accuracy of your bookkeeping and the ability to quickly detect errors — or worse, fraud — is worth the extra effort. If you find yourself spending too much time on reconciliation or needing to undo...

What is an early payment discount?

Notice that the drop-down lists include both a Vendor list and Terms list. This gives you a choice of vendors and payment terms (including 2% 10, Net 30) that you’ve already entered into the QuickBooks accounting software. If you find your business the advantages and...