Accounting
-
ADP GL Reconciliation to Payroll Cash Account
Hello, I was wondering if anyone on this forum has had experiencing working with the ADP GL interface of ADP to create your journal entries for payroll. My company uses ADP GL, but we have been having trouble reconciling to our cash account. We did go through the ADP payroll register vs. ADP GL and…
6
-
How do you group assets and capitalize them if their cost is under your policy threshold and why?
Example : rebuilding the network infrastructure .The project includes servers, WIFI stations, phones etc... all under your current policy level . Capitalize as a group? Should a group of assets threshold also be specified in the policy or is there any specific accounting guidance ?
3
-
Accounting for revenue split between parent and subsidiary
My company is purchasing a 60% stake in another firm. This is effective at year end. Currently we have an arrangement with this company where they are paid a % of gross margin when they refer business to us. We have booked this as sales expense as a referral fee below the gross margin line. The…
4
-
What is the best method of computing DSO?
The dynamics of business and the type of industries coming up pose a challenge in computing DSO( Days Dales Outstanding) at any point in time. We are used to the text book formulae to compute DSOs. There is a school of thought that in a service industry (ITES for example) you may have a DSO on your…
3
-
Accounting system for Advertising Agency
I'm the Finance Director of a fast-growing advertising agency and we've outgrown Quickbooks. I'm looking for alternatives and open to any and all thoughts. Thank you
4
-
What is the proper GAAP accounting treatment in converting from an LLC to a C-Corp?
Here's what my question comes down to. LLCs pass gains and losses along to their members (at least for tax purposes). When an LLC converts to a C-Corp, does GAAP say you bring the equity over to the C-corp as common stock (par and apic) based on: Gross amounts, as though the company had always …
1
-
Accounting 101 Cheat Sheet
How many of you maintain a "Cheat Sheet" for quick reference. We're talking about anything from how to figure out GPM to Mark-up or even current ratio (and everything in-between)? I assume anonymous will prevail here as the key responder, but let's face it: Not all CFO's are accountants (nor do the…
7
-
Non-Disclosure Agreement With External Auditors
As a finance department manager do I have to legally enter into a non-disclosure agreement with external auditors every year before the audit work is started?
2
-
Speadsheet or Software Options for Managing Accounts Receivable
Does anyone have a collections spreadsheet in excel - my collections team currently has a spreadsheet in excel but I need to fix it where we can upload new data into the spreadsheet each week (to account for payments received, new collections going over a time range: 60,90,120 days) but for the on-…
4
-
Furniture Buyout at Lease End
I have a 5 year Operating Lease on Furniture ending. The buyout is $90,000 (10% of $900,000) and we have opted to purchase. Must I capitalize the $90,000 and depreciate over another 7 years? Seems like the furniture is OK now, but no way it lasts 12 full years. Is 7 years the only option? Because t…
1
-
Temporary Workstation - can be capitalized when your office building is under construction?
The literature on Fixed Asset does not have specific reference to temporary workstation, amenities rented during the period when the office building is under construction. These rental costs are contracted and paid directly by my company to the vendors while the main contractor only bills us for th…
2
-
Deferred Revenue - how to explain
There's the accounting definition of deferred revenue, and then there's the definition that makes sense to your CEO/board. I'm fine on the former, but when it comes to explaining deferred revenue to non-accountants, I would like to be more articulate on what it is, what's "good" and what's "bad". W…
5
-
My first day as an Accounting Manager
Today is my first day as an Accounting Manager. I will be managing a small group of 2. It is also my first time being in a manager role. If you are or ever were in a leadership role, what is it that you wish you knew sooner? What tips do you have for me?
3
-
What's the useful life of a Yurt?
A yurt is portable, fabric-covered, wood lattice-framed structure that incorporates the architectural principals of compression & tension to create a remarkably sturdy structure that uses minimal materials (according to Yurts of America). Taking into consideration the definition of a yurt, is t…
3
-
A/P transaction processing: Do you Check the Math?
Hello, within your A/P depts how many of you have the A/P associate or clerk check the math on all line items for every invoice? I have worked for 6 companies at this point and managed A/P in most positions. Generally, we check any invoice that is not or does not seem to be generated by an ERP sy…
5
-
Accounting for Imputed Stock Grants
My company issues imputed stock grants to our employees twice a year. These stock shares are given to our employees at FMV. Our payroll service takes additional withholding out of the employee's paycheck to cover the taxes on the FMV of the stock grants. Would proper accounting for this be to debit…
1
-
Accounting For Customer Renewal Options
"Do you include option years in the bookings #?" This question was asked at a recent webinar, now available on-demand: "Why Companies Need a Bookings Policy, and How to Create One" Please add your thoughts about it below. Thanks!
1
-
Bookings vs Revenue & Inflated Future Value
"Management may use the bookings metric (non-gaap) metric as a way to inflate future value despite known variances between bookings and recognized revenue. Is there any guidance that can be referenced or is the AICPA looking at bookings to provide some general guidance or guidelines?" This questi…
1
-
Book-To-Bill Ratio When Billings Go Bad
"We would like to understand Book to Bill ratio and the debooking of bad business." This question was asked at a recent webinar, now available on-demand: "Why Companies Need a Bookings Policy, and How to Create One" Please add your thoughts about it below. Thanks!
1
-
Annualizing Earnings Best Practices
"What's your view on annualizing bookings (if it's a 6 month deal of $10k, reflecting and reporting ARR as $20k)?" This question was asked at a recent webinar, now available on-demand: "Why Companies Need a Bookings Policy, and How to Create One" Please add your thoughts about it below. Thanks!
1
-
Should a deal with one signature missing be booked?
"Would you accept a contract as "booked" if you only have some of the client signatures but a key client signature is missing?" This question was asked at a recent webinar, now available on-demand: "Why Companies Need a Bookings Policy, and How to Create One" Please add your thoughts about it bel…
3
-
Bookings vs Customer Signings & Customer Lifetime Value
"How do you measure a booking that has no or low commitment?" This question was asked at a recent webinar, now available on-demand: "Why Companies Need a Bookings Policy, and How to Create One" Please add your thoughts about it below. Thanks!
2
-
Service Industry Bookings Standard Practice
"What is standard practice for Service industry - Definition of Booking?" This question was asked at a recent webinar, now available on-demand: "Why Companies Need a Bookings Policy, and How to Create One" Please add your thoughts about it below. Thanks!
1
-
Customer Renewal Options & Revenue Recognition
"How would you recognize a booking that has an Option to renew - ie not guaranteed? " This question was asked at a recent webinar, now available on-demand: "Why Companies Need a Bookings Policy, and How to Create One" Please add your thoughts about it below. Thanks!
1
-
Booking Short Term Revenue
"In your experience, how are short-term deals or deals with an early out typically handled for Bookings? " This question was asked at a recent webinar, now available on-demand: "Why Companies Need a Bookings Policy, and How to Create One" Please add your thoughts about it below. Thanks!
1
Previous
