Accounting
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Capitalizing SaaS related work
We are looking at capitalizing Saas related implementation cost and SaaS related customization cost (on the SaaS company side). Are there specific rules related to implementing SaaS software?
4
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Why would CPAs not desire a simplified tax structure?
15 years ago, in the United States, there was a push to simplify the tax code. One option was to charge a flat rate for all incomes and to eliminate all deductions. Another was to eliminate the income tax altogether and have a federal sales tax. Either one would be a way better system than the mess…
9
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Old Deferred Revenue Balances
What is the best path for a deferred revenue balance that should have been taken as revenue during the course of the year? It was real revenue but the previous accountant didn't not record a journal entry each month to record the revenue.
4
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Changing structure of our finance office
The company I work for owns multiple businesses located across the province. In 2012 we transitioned from separate bookkeepers in each location to centralized accounting. We employ 4 bookkeepers who look after multiple stores from start to finish, AP/AR/Payroll/GL/YE working papers, with me doing t…
15
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GP Posting to closed month
January 2015 was balanced and "closed", with a balanced trial balance. In February something in the inventory module posted to January. How is it possible to post anything to a "closed" month?
4
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Transition from Cash Basis to Accrual Basis
Our company has voted to transition from a Cash Basis to an Accrual Basis of Accounting. A couple of questions I'd like to get others' input on. 1) If you are at the end of the fiscal year and trying to finish up the close process, would you start to move items into Accrued expenses so that the new…
5
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Looking for low cost cloud accounting software that integrates with SalesForce
I have a client sub-$1m revenue (and growing of course!) that wants to get off it's on-premise QuickBooks instance and implement an accounting system that is tightly integrated with Sales Force. Their business model is high-volume, low dollar billing with an up front cost then an annual fee, using …
3
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Accounting for Gift Cards Sold at Discount
I am working with a client who is considering selling gift cards at a discount (e.g., pay $90 for a $100 gift card). I know that when ordinarily accounting for gift cards, you debt cash and credit a gift card liability when the gift card is sold, and then debit gift card liability and credit revenu…
5
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Cost of New GL
We are transitioning from a $20MM one legal entity cash based company to a multi entity accrual based company. Thus, our quick books is going to quickly out grow us. Does any one have a ball park range on total cost of ownership on GL systems? I will be going through the SAAS vs buy, and the full n…
5
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Cost of Goods Sold - Food & Beverage Industry
I was reading a related post regarding COGS tracking for a manufacturing company, and was curious about proper tracking of COGS in the food and beverage industry?
1
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Transaction gains/losses - classification on P&L
My company entered into a contract w/ a customer who pays their invoice in USD but the functional currency (and expenses borne to service the customer) is Euro. As long as the relationship between the Euro and USD doesn't fluctuate +/- 10% from the rate at contract signing, the customer pays us in …
2
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Mission Board Accounting
We are a church that oversees, as part of its complete ministry, a sending Mission Board. This Mission Board is set up to support missionaries administratively and manage their support funding. Donors send support made payable to the mission board for tax purposes. What is the clear, correct, way t…
7
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Accounting For License Costs
We are doing business in several states. The most recent, Ohio, has a lot of state licensing costs to do business in that state, including legal costs from our lawyers. Can we capitalize these costs?
5
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6 things to achieve in the next one year in your department
I have been told to list 6 things I want to achieve in my department in the next one year. The company is new and we are trying to set the accounting department. I need ideas outside the normal accounting functions that we all know. Thanks
6
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What are the best 3 goals of an accounting supervisor/finance?
I'm currently working as accounting supervisor doing the financial report, payroll and attend employees concerns regarding finanance matters. My boss ask me to prepare 3 goals for 2015. Help me please.
2
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Does anyone have a good excel template for software revenue recongnition?
Hello, I'm looking for a excel worksheet used for revenue recognition for software. Most of the business I'm working with is subscription billing so the revenue would be recognized over the life of the contract, but there are a number of projects that we do that have multiple deliverable arrangemen…
3
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What criteria would anoyone use to determine Repair VS Capitalization for paint and stain on an existing building
I have one property out of eleven that painted and stained their building this year. No structural repairs. It is not for sale, but an operating restaurant. Could this be capitalized?
2
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3PL (Third Party Logistics), what are the major issues you find with your provider
Many firms use or receive inventory from a 3PL (Third Party Logistics provider). Reason's for using them are many, from cost of the warehouse rent to labor and beyond, using a 3PL can save time and money. But along with your upside, there must be a downside. Why not list both?
1
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Accounting For Land Depletion
From what I know, and please correct me if I'm wrong, land may be depleted (depreciated) if it loses it's value due to exploration. Can someone guide to some authoritative literature that addresses this situation, besides industry-specific literature such as mining or oil & gas? I'm dealing wit…
2
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Sublease and Leasehold improvements
Facts: Company A is in three year lease term for an office rental space, starting December 1, 2013, after 1 year Company A decided to move to a big location. Instead of terminating the lease agreement, Company A subleases the office rental space to Company B, (Company A still has the primary obliga…
6
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MineralTree Reviews & Other A/P Automation Solution Recommendations
Anyone have experience with MineralTree AP Automation? I have been looking around at AP automation solutions and I was wondering if anyone has experience with MineralTree and could review their service. I have seen some good words about Bill.com also. Are there any other I should look at?
2
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Accounting For Loss On Sale Of An Asset
Hello, I'm currently reviewing our auditors adjusting entries and have a question concerning calculating the loss on sale of disposal. If I buy a truck on Jan 1 2014, and it gets into an accident and is written off on June 1 2014, I believe that I would have to calculate the amortization until June…
4
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Debt Factoring Accounting Treatment
I am doing some consulting work for a Merchant Cash Advance company and we are have some debates about how to recognize the revenue and profit. Industry is the same as factoring. There are 2 current camps: 1 - Since the term is not known (repayment length) and the transaction has been completed (me…
3
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