Microsoft is giving away Microsoft Money Plus Sunset Deluxe for free. This product was discontinued last year by Microsoft so there will be no support and the online capabilities of the software have been disabled for the free software, but you can’t complain about the price. If you don’t need too much from your accounting…
Hey readers, just a quick post about auto insurance coverage. I’ve recently been researching auto insurance a lot for new sites that I’m currently building and have stumbled upon some interesting facts. How many of you think auto insurance is required in all 50 states? Surprisingly the answer is no. In New Hampshire you’re not…
A running balance is the total amount of available funds in a credit or debit account. A running balance can also refer to a running tab that you’d open at a bar. It can also refer to the amount of money you have in a savings or checking account or even an investment. So the…
Hidden assets are undisclosed financial assets such as stock, bonds, or bank accounts. Hidden assets are used to provide financial security. For example in a divorce hidden assets won’t be taken into account in the splitting of assets. Finding hidden assets can be hard. Offshore bank accounts are very hard to track down to their…
A POD account allows quick access to your cash in the event of your death. POD stands for payable on death and many banks will offer a POD service free of charge. A POD account ensures that your family has cash for immediate expenses without having to go through a will. You need to have…
A spousal IRA allows contributions to be made to into an account on their spouses behalf. They were created to allow stay at home parents to put away money for retirement even if they don’t earn any income. Normally you’re allowed to contribute $5,000 or 100% of your income to your IRA. However if you’re…
I often talk about banks using ACH transfers so I thought I’d write a post about what an ACH transfer is for those that don’t know. ACH is short for Automated Clearing House which is an electronic network that handles a lot of financial transactions in the US. ACH transfers are very reliable and efficient…
Cash control is the verification of records of ingoing and outgoing cash to a business, organization, or household. Good cash control is needed for responsible accounting. Cash isn’t just money but can include money orders, credit card receipts, and checks as well. Cash control involves coming up with a system that tracks money going in…
Accounting careers are great for those that are good at math and are very analytical. There are several different types of accounting careers including tax accountants, auditors, actuaries, and budget analysts. If you’re planning an accounting career then you should plan on working with numbers a lot, working in front of a computer, and going…
Unearned income is making money that isn’t the result of a wage, salary, or tip. Deposits for work that is to be done is also considered to be unearned income. For example a deposit to begin construction on a building is unearned income. After the job is completed and the contractor is paid the deposit…