When you start taking sales on account or your company's sales activity outgrows the cash-basis accounting method, it's time to transition to accrual-basis accounting. One of the challenges many business owners face when making this transition is understanding when to actually record revenue on the books. Here are a few things to look for when deciding if the revenue in question should be recognized now.
Can You Prove That The Revenue Has Been Produced?
- If you've recently become a young widow or widower, there are undoubtedly a lot of changes that are taking place in your life. Knowing how to handle the financial aspects of your loss is vital to learning to move forward. To help you through the process, here are 5 key money tips for young spouses who lose their partner. Get Some Help. Even if you've never used one, this may be a good time to work with a professional financial advisor or financial planner.
- Regardless of how prepared you and your partner might believe you are, having a baby can sometimes present financial challenges. Not only do you have to consider how to financially support the baby when he or she arrives, you have to plan for your family's future. If you and your partner are expecting a baby, here are some tips to help you financially prepare for the new arrival. Create a Budget
- Having a baby can be exciting, but it can also be very expensive. If you are having your first child in the near future, consider meeting with a financial advisor to learn how to prepare for your new bundle of joy financially. The guide below walks you through a few ways a financial advisor (such as Wealth Builder Advisor) can help you when you are planning for a baby. Determine How Much Money to Put into a Fund for College Tuition Each Month
- When you retire, you may be living solely on social security or a pension. What happens if you need extra money? How can you make your retirement savings grow? Even if you're years away from retirement, there are financial aspects you need to consider. Here are five ideas that will earn you extra income in retirement: 1. Become a landlord By the time you retire, you may have at least one extra property.