The Time Billing feature allows employees to enter straight time or track activities based on customer needs. Sellers can configure the Payroll functions to direct deposit paychecks, print checks, and keep track of vacation and sick time. – Its intuitive design makes it accessible for small business owners who are not very good with technology […]
Archivio Categoria: Bookkeeping
While that image may have been accurate many decades ago, that isn’t necessarily the case today. Now, bookkeepers make use of modern tools (as well as some classic ones) to track a company’s financials. They are tech-savvy, number aficionados, and they are a critical part of nearly any company’s operations. This post provides detailed information […]
The production budget estimates the number of units that need to be produced to 1) meet sales demand and 2) maintain the desired level of finished goods inventory on hand. Normally producing and storing a large quantity of excess inventory is not recommended. However, it is common practice to produce a small quantity of excess […]
You can pay as low as $150 a month for a starter package that includes day-to-day bookkeeping, account reconciliation, and financial report preparation. With some firms, you can then layer on services or choose a mid-tier package that provides for cash flow management, accounts payable and receivable, and expense tracking for $300 to $500 a […]
A CPA, or certified public accountant, is a person who has obtained licensing to practice as an accountant through a combination of educational requirements and exams. They may specialize in certain fields of accounting, such as taxation. Your accountant can compile and interpret financial statements, such as income statements, balance sheets, and cash flow statements. […]
Rarely, the term “trade payables” is used in place of “accounts payable.” Accounts payable belong to a larger class of accounting entries known as liabilities. The terms and concepts in this guide were curated in part for their relevance to new entrepreneurs. Examples include terms such as “accounts payable,” “accounts receivable,” “cash flow,” “revenue,” and […]
Let us take a look at two examples to illustrate how to apply the absorption costing method. There are a number of situations in which it may be appropriate to use absorption costing. One of the main reasons to use this method is that it is generally accepted accounting principles (GAAP) compliant. All fixed manufacturing […]
According to the total direct labor variance, direct labor costs were $1,200 lower than expected, a favorable variance. With either of these formulas, the actual rate per hour refers to the actual rate of pay for workers to create one unit of product. The standard rate per hour is the expected rate of pay for […]
Current assets include cash, inventory, accounts receivable, and other current assets that can be liquidated or converted into cash in less than a year. Different industries vary in D/E ratios because some industries may have intensive capital compared to others. On the other hand, when a company sells equity, it gives up a portion of […]
Here’s what you need to know about this valuable tax credit and its eligibility criteria. Over the past decade, the cost of college has increased by over 25%. With rising tuition and fees, you may be looking for ways to lower your education costs. • The Lifetime Learning Credit can provide you with a credit […]