Archive for January, 2010
Accounting Term of the day – Expense Allocation
Expense Allocation -
Defintion:
The process of allocating indirect expenses of a business among departments to measure the performance of each department.
Published by angie on January 29th, 2010 tagged Term of the day | Comment now »
Accounting Terms of the Day – Various Payroll Forms
Form 940 (Payroll) -
Definition:
Employer’s Annual Federal Unemployment (FUTA) Tax Return.
Form 941(Payroll) -
Definition:
Employer’s Quarterly Federal Tax Return.
Form 945 (Payroll) -
Definition:
Annual Return of Withheld Federal Income Tax.
FUTA (Payroll) -
Definition:
Federal Unemployment Tax (see Form 940).
Published by angie on January 28th, 2010 tagged Term of the day | Comment now »
Accounting Term of the Day – Expense
Expense -
Definition:
The cost of goods or services used up for the purpose of generating revenue.
Published by angie on January 28th, 2010 tagged Term of the day | Comment now »
Accounting Term of the Day – Exceptions Report
Exceptions Report -
Definition:
Any report that emphasizes the abnormal rather than the normal status. In Accounts Payable, the Cash Requirements Report can be considered an exceptions report since it shows invoices that are due but not paid.
Published by angie on January 27th, 2010 tagged Term of the day | Comment now »
Note to CMS Payroll Users: CMS 2010 Payroll Tax Update 1/22/10
Your CMS 2010 Payroll Tax Update Utility with changes effective as of January 1, 2010 is now available. Before you install this update, you must have CMS Professional 2010 SP1 installed. This 2010 Payroll Tax Update includes all recent withholding table changes for Washington D.C.
You can download this update from the Customer Service Center (CSC) [...]
Published by angie on January 27th, 2010 tagged Tips & Tricks | Comment now »
Accounting Term of the Day – Equity
Equity -
Definition:
The resources invested in a business by the owner plus profits retained in the business. The amount by which the assets of a company exceed liabilities.
Published by angie on January 26th, 2010 tagged Term of the day | Comment now »
Accounting Term of the Day – Entire Accounting Cycle
Entire Accounting Cycle -
Definition:
The sequence of accounting activities performed during an accounting period.
Published by angie on January 25th, 2010 tagged Term of the day | Comment now »
Accounting Term of the Day – EIN (Payroll)
EIN (Payroll) -
Definition:
Employer Identification Number
Published by angie on January 22nd, 2010 tagged Term of the day | Comment now »
Accounting Term of the Day – EIC (Payroll)
EIC (Payroll) -
Definition:
Earned Income Credit
Published by angie on January 21st, 2010 tagged Term of the day | Comment now »
Accounting Term of the Day – EFTPS (Payroll)
EFTPS (Payroll) -
Definition:
Electronic Federal Tax Payment System, must be used to make electronic deposits.