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Charles Lutwidge

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Charles Lutwidge is a writer with a passion for helping small businesses succeed. Having worked at multiple startups, Charles understands the unique challenges that entrepreneurs face. He writes about a wide range of topics, from management to bookkeeping to technology — all with a focus on helping business owners overcome key obstacles to growth.

Email: charles@bookstime.com
Phone: 8889026657

September 25, 2020

Charles Lutwidge
Cash Short and Over Account

Cash Short and Over Account

Overview Cash includes coin, paper money, checks, and money orders. Money on deposit with a bank and other financial institutions that are available for withdrawal is also considered cash. Cash is the asset most likely to be stolen or used...

Reading Time 3 mins
0 / 5 (0 voted)
Never Worry About Your Bookkeeping Again
Never Worry About Your Bookkeeping Again

Delegate your financial records to a highly qualified bookkeeper and forget about bookkeeping stress forever.

September 25, 2020

Charles Lutwidge
Dividends Account – Explanation and Example

Dividends Account – Explanation and Example

Definition Every once in awhile, a company may decide to distribute some of its earnings to its stockholders/shareholders. In financial accounting, they are referred to as dividends. They can happen frequently, such as every quarter, or a corporation may decide...

Reading Time 3 mins
0 / 5 (0 voted)

September 25, 2020

Charles Lutwidge
What is a Trial Balance?

What is a Trial Balance?

Definition By definition, a Trial Balance is not a formal financial statement. It is merely the ledger accounts listed along with their respective closing debit or credit (normal) balances on a certain date. Other financial statements are usually prepared after...

Reading Time 3 mins
5 / 5 (1 voted)

September 02, 2020

Charles Lutwidge
Manufacturing Overhead Costs

Manufacturing Overhead Costs

Any business activity involves costs. Money is spent on diverse processes and purchases: equipment maintenance, raw materials, packaging, transportation, etc. Three are also costs associated with management processes, where wages and salaries are a big percentage of these spendings. Such...

Reading Time 3 mins
5 / 5 (1 voted)

September 02, 2020

Charles Lutwidge
Gross vs. Net Income

Gross vs. Net Income

Sometimes, people, including business owners, get gross and net income confused. Thus, being able to tell the difference allows one to properly evaluate accounting reports, make financial plans, know what to provide when asked for one or the other, and...

Reading Time 3 mins
5 / 5 (1 voted)

September 02, 2020

Charles Lutwidge
A Simple Explanation of Straight Line Depreciation

A Simple Explanation of Straight Line Depreciation

Definition and Formula The method of accounting for the allocation of costs of any physical or tangible asset during its useful life is known as depreciation. These costs arise due to: Use Wear and tear The passing of time Obsolescence....

Reading Time 3 mins
0 / 5 (0 voted)

September 02, 2020

Charles Lutwidge
Internal Controls in Accounting

Internal Controls in Accounting

What are Internal Controls? Let’s first look at the definition of internal controls in accounting. Internal control is a management process involving the people of the organization (the responsibility lies with management and the board of directors). Every company has...

Reading Time 3 mins
5 / 5 (1 voted)

September 02, 2020

Charles Lutwidge
Accounting in Banks Simplified

Accounting in Banks Simplified

Most people are confused by bank accounting. We know how a company accounting works because a lot of us have more or less experience with it. Bank accounting is different. At the same time, we are sure you will find...

Reading Time 4 mins
0 / 5 (0 voted)
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