42 tagged with "Accrual Accounting"
Accrual method accounting principles, conversion from cash basis, and revenue recognition timing
Independent Insurance Agency Bookkeeping: ASC 606 Contingent Commissions, Fiduciary Trust Accounts, and Producer 1099 vs W-2
How independent insurance agencies should recognize first-year and renewal commission, accrue contingent and profit-sharing income under ASC 606, segregate premium trust funds, classify producers as 1099 or W-2, and meet state DOI and surplus lines tax obligations.
Private RV Park and Campground Bookkeeping: Revenue Recognition, Cost Segregation, and Per-Site KPIs
How private RV park and campground operators should separate nightly, monthly, and seasonal site revenue under ASC 606, handle submetered utility pass-through, capture 15-year land improvements through cost segregation, and reconcile the per-site KPIs that lenders and buyers actually read.
Tow Truck and Vehicle Recovery Service Bookkeeping: A Practical Guide for Independent Operators
How independent tow operators should segment revenue across cash calls, motor clubs, police rotation, and heavy recovery — plus accruing impound storage daily, handling mechanic's lien sales, applying Section 179 to wreckers, and reserving for on-hook claims.
Mortgage Broker and Loan Originator Bookkeeping: LO Comp, RESPA, EPO Clawbacks, and HMDA Reporting
A working playbook for independent mortgage brokerages: separating lender-paid and borrower-paid compensation under the LO Comp Rule, accruing EPO/EPD clawback reserves, classifying RESPA Section 8 payments, deferring lock and application fees, and staging loan-level data for HMDA LAR filing.
Pest Control Bookkeeping: ASC 606, Termite Bond Reserves, and Per-Stop Profit
How route-based pest control and termite operators should apply ASC 606 to quarterly contracts and bond renewals, accrue retreatment reserves under ASC 460, reconcile chemical inventory to state Department of Agriculture records, and build per-stop costing in PestPac or FieldRoutes.
Wedding and Event Venue Bookkeeping: Deferred Revenue, Pass-Through Catering, and Per-Saturday Profitability
A practical guide to bookkeeping for wedding and event venues, covering ASC 606 deferred revenue on booking deposits, the principal-versus-agent test for pass-through catering and bar, refundable damage deposit liabilities, per-Saturday fixed-cost allocation, and cancellation reserves.
Car Wash Bookkeeping: ASC 606 Deferred Revenue, Cost per Car, and 15-Year MACRS Tunnel Depreciation
How express car washes should recognize unlimited membership revenue ratably under ASC 606, allocate variable cost per car across water, electricity, and chemicals (~$1.50/car target), and depreciate tunnel equipment under 15-year MACRS with cost segregation and bonus depreciation.
Pawn Shop Accounting: Pawn Loans, Forfeited Collateral, Firearms Compliance, and the $10,000 BSA Rule
A working guide to pawn shop bookkeeping — how to record pawn loans as receivables, accrue service charges, transfer forfeited collateral to inventory at principal, comply with ATF Form 4473 rules on firearms redemption, and file Form 8300 when cash crosses $10,000.
Prepaid Expenses Explained: Stop Letting Annual Insurance, Rent, and Software Bills Distort Your Monthly Profit
How small businesses should book prepaid insurance, rent, software, and retainers — the initial entry, monthly amortization schedule, IRS 12-month rule, and a written de minimis policy that keeps monthly profit comparable and unlocks year-end tax deductions.
Section 467 Rental Agreements: Stepped, Prepaid, and Deferred Rent Under the Tax Code's Anti-Abuse Rule
Section 467 forces accrual accounting and imputed interest on commercial leases over $250,000 with stepped, prepaid, or deferred rent — overriding cash-basis treatment, recharacterizing part of every rent payment as a deemed loan between landlord and tenant, and creating Schedule M-1 book-tax differences from ASC 842 straight-line rent.
Self-Storage Facility Bookkeeping: A Practical Guide for Operators
How self-storage operators should structure a chart of accounts by unit type, reconcile SiteLink or storEDGE with the general ledger, treat move-in discounts as contra-revenue, handle auction proceeds, and report physical occupancy, economic occupancy, and NOI per square foot.
Compensated Absences Liability Under ASC 710-10: Accruing PTO, Vacation, and Sick Leave
ASC 710-10 requires employers to accrue a balance-sheet liability for PTO, vacation, and sick leave that vests or carries over. This guide covers the four-part test, sabbatical and unlimited PTO rules, the reserve calculation, and the journal entries.