General Ledger vs Sub Ledger Top 9 Differences with Infographics

Content How to reconcile the general ledger General Ledger General Ledger Reconciliation and Analysis Cash accounts bank statement reconciliations Office of Financial Management A fixed asset subledger is used to convey details of a company’s fixed assets, such as property, equipment, vehicles, and software. For example, the entries here can reflect the asset’s original cost, […]

Straight Line Depreciation Formula & Guide to Calculate Depreciation

Content Straight Line Method (Depreciation) – Explained What is straight-line depreciation? Double-Declining Balance Depreciation The Straight Line Depreciation Method Overview: What is straight line depreciation? Residual value is the estimated value of a fixed asset at the end of its lease term or useful life. The cash and cash equivalent are reduced by $1,000 and […]

Sales Tax Rates, Additional Sales Taxes, and Fees

Content File Items Subject to the 7% Combined General Rate Jurisdiction reporting codes and rate changes In cases where items are sold at retail more than once, such as used cars, the sales tax can be charged on the same item indefinitely. The five states with the highest average local sales tax rates are Alabama […]