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Common Accounting Mistakes: Government Edition - Issue #8 Unallowable Expenses

SMBAccountant

These costs must be recorded in separate general ledger accounts to be easily identified and excluded from any billing. Bad Debt – both actual and estimated losses from uncollectible accounts receivable including collection costs and legal costs are not allowed.

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Common Accounting Mistakes: Government Edition - Issue #8 Unallowable Expenses

SMBAccountant

These costs must be recorded in separate general ledger accounts to be easily identified and excluded from any billing. Bad Debt – both actual and estimated losses from uncollectible accounts receivable including collection costs and legal costs are not allowed.

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Best Practices for Nonprofits

Withum

Many nonprofit organizations have limited resources and often the finance team also supports the general operations. The accounting system is the basis for reports that must be provided to grant agencies, prospective donors, lenders, its independent auditors, tax preparers, the Board of directors and management. .

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What triggers a sales tax audit and how do you reduce the risks?

ThomsonReuters

What is a sales tax audit? A sales tax audit determines whether a business has collected and paid the correct amount of sales tax owed to the state for taxable transactions. Auditors examine financial documents and compare total sales revenue with sales that resulted in the collection of sales tax.

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