Accounting
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Wages earned by employee but not paid-require W2?
An employee earned wages that the company could not pay during the year. To evidence the liability, the company issued a note payable to the employee. The employee sold the note to a third party that agreed with the company to convert into equity. The question is whether the company is obligated to…
11
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Percentage Complete
In process costing system how the percent complete with respect to conversion cost is calculated?
3
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Subscription revenue recognition for monthly service over non-equal length months
We are in the process of launching a subscription product where users will pay for access to content online (e.g. HBO). Users could subscribe on any day of the month and down the road they may cancel on any day of the month. So, how should we recognize revenue for this? Based on days of the month? …
9
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Variances in application of GAAP
Does anyone have examples of variances in the application of GAAP. I have been asked to make a presentation and would like to include as many examples in as many diverse industries as possible. As an example, I worked for a retailer who changed their accounting for distribution expense. According t…
3
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Accounting Package for Non-Profit
I am working with a non-profit organization that needs assistance implementing an account system that will integrate seamlessly with on-line credit card processing services. Their existing system is quite old and has no ability to accept on-line payment processing information (they manually re-ente…
4
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Going paperless with A/P in Intacct
All, We're in the process of evaluating Intacct (among others) for implementation on July 1, 2014. As a part of the implementation, we'd like to go paperless with our requisition to payment process. We're considering (1) just using Intacct's built in functionality, including approval routing & …
3
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Asset capitalization for external use software
We purchased software licenses (with no life term length) for clients, but are not charging for the service. How do I account for these expenses? Amortize over expected life length? Treat as an asset?
1
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Cash Flow Projection Process
Has anyone developed a reliable cash flow projection process and reporting mechanism which includes minimum cash threshold to meet operating needs.
2
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What would you include in an accounting manager job description?
Background: 80 person company with $10,000,000 in gross revenue currently on QuckBooks, but upgrading within a year, platform tba.
2
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Capitalize software development costs saves money?
How can capitalizing software development costs help a company hire more developers. If a company has $2M budget for hiring, and has the option to capitalize 40% of the S/w development labor costs - how many developers can it hire if the expenses all vs. capitalize 40% and expense 60%?
6
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Can I capitalize Patent and R & D costs in an LLC
Members of LLC do not wish to take expense write off, cannot use losses. LLC will likely be held to sell off patent eventually
5
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Labor Overhead Rates
I am working on a project to create a simple P&L by product line. 75% of our cost are development so we have created a program the tracks their time by product line. What we are trying to determine is what is the best overhead rate to use to create the labor rate. What we have used in the past …
10
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Recommended Revenue Recognition Treatment for Credit Card Incentive Rebate Programs
We are looking for clarification on how to handle revenue recognition related to "interchange" revenue we receive from payments settled via our various bill payment credit card programs and a contingent rebate (% of the Interchange Revenue we receive) we provide back to our customers to incent them…
2
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Accounting laws related to accrued vacation balances
For years my company had a accrual vacation program - so many hour per pay period with a maximum carry over of 240 hours into the next year. Recently it was announced that the accrual program was being suspended and everyone would get a specific number of hours per year to use (use it or loose it).…
4
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Picking your first auditor
We are a private company that's never been audited. We don't have to be as we've been successfully bootstrapped to profitability, but I know there are enough benefits to get audited that I'm thinking the time has come to take that next step. How did you pick your first auditor? What was the process…
11
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Accounting Controls and Procedures Manual
I have started a project with a pre revenue company that is expecting its first revenue within the next few months. They currently have no systems and procedures since they have primarily been in product development mode so far. We need to establish systems and procedures and have some degree of fl…
8
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Is there any accounting guideline if I set up all the vendors in SAP for the charges we paid on American Express credit card?
My manager wants a report from SAP that shows each transaction we paid on American credit card. How much we paid for each transaction for the whole year and to whom we made payment on credit card with all details along with GL account coding. For e.g. If we paid $10k in a year for computer parts on…
2
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Security Against Account Payable in Quickbooks enterprise sol.?
Hi, Using QuickBooks enterprise; We have account payable (vendor/Suppliers) providing services to our company, while paying first bill we deduct amount as security from vendor/supplier e.g. Tiles Work Dr. $10000 Vendor A Cr. $9000 Security vend A Cr. $1000 kept $1000 as security and will pay at com…
3
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What is the best practice of a cash flow forecast for a brokerage company?
The brokerage company (securities company) has fluctuated income from service fee, margin lending, term deposit, proprietary trading (bond, stock, etc), so how to prepare a cash flow forecast especially for income? should it perform rolling cash flow forecast? and how long for a rolling cash flow f…
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How to Operate More than One Project Under One Company?
I am working as a Manager Accounts and using quick-books enterprise solution 12 R. We have more Five projects at the moment under one company (i.e. XYZ pvt ltd.), and want to manage all project from this company, that each project have its own customize financial statements ( B/sheet, Trial balance…
3
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I require a comprehensive Finance & Accounting Manual or Policies & Procedures
Can anyone provide me with comprehensive Finance & Accounting Manual or Policies & Procedures/ Standard Operating Procedures (SOP's). I would be grateful if someone can help me with this request.
2
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Creating a GL entry from Paychex
I am hoping someone with Paychex experience has done this before because I can't seem to get any answers from Paychex. What I am trying to do is create a Journal Entry for each payroll. I have a import file setup to input into my accounting system (csv format). All I want to do is download summary …
1
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Upgrading from Quick Books Enterprise with 77 entities
We are a Property Management company and we currently have 77 different properties each with its own Tax ID. Most are small complexes ranging from 12 to 80 units in each. Many are government funded Rural Development, Tax Credit, RD 538, HOME etc. We use Yardi Classic for the rents and certification…
2
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Revenue Recognition Criteria For Professional Services (Webinar Attendee Question)
With revenue recognition in professional services, how do you handle customer change orders and fluid completion estimates? Our company sells both software and professional services. We recognize revenue on a percentage completion basis as the services are performed. However, it's not that unusual …
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