Author: lakshmanan

The unexpired insurance will reduce is insurance expense a debit or credit from balance sheet and increase the insurance expense on income statement. The company requires to record unexpired insurance when payment is transferred to the insurance company. Company records unexpired insurance and decreases cash on balance sheet. Insurance is the expense that company purchases from the insurance provider in exchange for the insurance service. How does insurance expense impact the income statement? Insurance expense will most often be considered an Accounting Security operating expense, and for many companies, it is tax-deductible. I am sure if the Accountant wants to…

There are no official education requirements to become a bookkeeper, so you won’t need a degree. If you care for a child or loved one, are attending college, or have another job, bookkeeping can give you the freedom you need. Bookkeepers typically handle the day-to-day finances of a business. Are you looking for rental business ideas you can start and run in your spare time? These include entering data as accurately as possible and ensuring no errors are left unaddressed in the ledgers. The bookkeeper should be able to answer all questions about daily finances and the status of payments.…