How to categorize expenses in a SaaS startup
A Chart of Accounts will open up, with all of your Balance Sheet and Income Statement accounts listed. Keep your eye on the “Type” column, and scroll down to Cost of Goods Sold, which is what Quickbooks calls the Cost of Revenue. No setup required; Application derives accounting period using the first day of control […]
Accumulated Depreciation Definition, Example, Sample
By recording accumulated depreciation, businesses can accurately reflect the declining value of their assets on their financial statements. In accrual accounting, the “Accumulated Depreciation” on a fixed asset refers to the sum of all depreciation expenses since the date of original purchase. Subtracting accumulated depreciation from an asset’s cost results in the asset’s book value […]
