Effective Accounting Techniques

Preparing Accounts for LodgeiT
LodgeiT is designed to help you prepare tax forms, working papers & special purpose financial reports faster & more accurately. In order to help you...
Wed, 8 Jul, 2020 at 11:47 AM
Understanding Accounting Reports
Balance sheet provides a view of values of the entity at a point in time i.e. how much is in the bank or how much is owed to suppliers.   Profit &...
Sat, 7 Aug, 2021 at 10:04 PM
Cash vs. Accrual Accounting
Accrual accounting on the revenue side – you raise an invoice when the service or product is delivered, regardless of when the cash is collected.  ...
Sat, 7 Aug, 2021 at 10:06 PM
How to Ensure Accounts are Accurate
It’s best to focus on balance sheet accounts first and ensure balances are correct. If they are, it’s more likely the overall accounting system is accurate...
Wed, 11 Aug, 2021 at 8:41 AM
Accounting Depreciation Different to Tax Depreciation for SBE Company
 Turn on tax depreciation via  4 little squares In such a situation, ATO demand that 6X = sum of Deduction for Certain Assets &...
Wed, 11 Aug, 2021 at 9:20 AM
Handling Dividend Reporting
In order to account for dividend payments, the dividend paid account in the source accounting system must have values reflective of the timeframes associat...
Wed, 8 Jul, 2020 at 11:54 AM
Trust Beneficiary Loans in QuickBooks
Please review this article - Options for Trust Beneficiary Loan Accounting BEFORE reading content below.  Note: Both options can be used with Beneficiary l...
Wed, 21 Apr, 2021 at 8:39 AM
How to account for Sole Trader Equity
This video provides the following guide: Preparation of underlying accounts in respect of equity section Importing using LodgeiT smart Excel Utility (att...
Fri, 23 Apr, 2021 at 9:12 AM
Accounting for Livestock Activity
Livestock report is stored in the tax form. It can be used as a working paper to compute average cost and closing inventory value. *Tap the image to enla...
Tue, 28 Sep, 2021 at 12:42 PM
Options for Partnership Equity Accounting
There are two methods available for handling the accounting in the equity section of a set of accounts for a partnership. These options have implications fo...
Fri, 23 Apr, 2021 at 9:30 AM