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Keeping Track of Revenue

As an accounting major in college, I quickly learned all of the complicated parts of the accounting cycle. I discovered how to input the details of business transactions into a computerized accounting system. At the end of an accounting cycle, such as a month, I became experienced with calculating the revenue for the period. If you’re starting a new business, determining an accurate amount of revenue for each accounting cycle is crucial. You must know how much profit you’re making each accounting period in order to be successful in the long-term. On this blog, you will discover how an experienced accountant can help you keep track of your revenue.

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Keeping Track of Revenue

    How To Record In-Kind Donations On Your Tax Forms
    It is not unusual for nonprofit organizations to receive non-cash donations. This is usually referred to as in-kind contributions and in most instances, will need to be recorded when filing your taxes. If you run a charity or nonprofit group, then the following will show you how to correctly record in-kind donations. Tangible Items Tangible property may include donation of physical items, such as clothing, equipment and furniture. Examine these items you received and ask yourself whether such goods can be sold or used by your charity.