Tag Archives: software

Use QuickBooks-Compatible Apps to Reduce Data Entry

As a small business entrepreneur there is a lot of demand on your time from competing forces, not the least of which are accounting and administrative tasks. For most business owners and their support staff, these tasks are the necessary evil of doing business, often put off until the last possible moment in favor of […]

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Tips & Tricks: Avoiding Common QuickBooks Mistakes

For more than 20 years, QuickBooks has been helping businesses manage bookkeeping tasks such as sales, bill payment, payroll and even inventory. The strength of the software is that it’s easy to set up and user friendly. CPAs and their clients also have an easy way to collaborate through transfer and review of financial data. […]

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The Importance of Sourcing Software License Royalty Income

If a U.S. company pays a royalty to a foreign company for the use of a software license, there is an issue regarding whether the royalty payment is considered to be U.S. source income to the foreign licensor. If the royalty is considered to be U.S. source income to the foreign licensor then I.R.C. Section […]

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Revenue Recognition is changing for Tech Companies and Others with Multiple Deliverables

Submitted by Don Gutman One of the constant accounting challenges companies face is the development of an appropriate revenue recognition model for the broad array of products and services they sell to customers.  We have seen many examples of public companies restating financial statements as a result of using inappropriate revenue recognition methods.  A classic […]

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Updated FASB Guidance for Revenue Arrangements That Include Software Elements

Does your business sell a product that includes a software component that is essential to the product’s overall functionality? If so, the newly approved FASB Accounting Standards Update (ASU) (2009-14) provides guidance that will be applied prospectively for revenue arrangements entered into or materially modified for fiscal years beginning on or after June 15, 2010, […]

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