Category: Bookkeeping

  • How to use the taxes suspense vs payable in the system? Before I was using just journal entry

    Formerly of FICO and Equifax, John is the only recognized credit expert who actually comes from the credit industry. Read this for help picking your first card and find out what to expect when you apply. Suspense accounts should be cleared at some point, because they are for temporary use. If you are unable to […]

  • What if a company’s Allowance for Doubtful Accounts is understated?

    Accountants use these terms primarily when reviewing financial statements. The terms also apply to other situations, however, often found in a company’s general ledger or subsidiary journals. Accounting errors can mislead financial statements users when making decisions. When an accountant finds an understated or overstated balance, he needs to conduct research to discover the error. […]

  • 55 Free QuickBooks Tutorials: Learn QuickBooks Fast +Videos

    You should consider accepting credit card payments as a convenience for your customers and to expedite the collection of outstanding invoices. Common file types are accepted, including MS Excel and CSV files. QuickBooks Online is one of the preeminent cloud-based accounting software platforms on the market. With five plans available, including a plan specifically for […]

  • How, when and why do you prepare closing entries?

    Your car, electronics, and furniture did not suddenly lose all their value, and unfortunately, you still have outstanding debt. Therefore, these accounts still have a balance in the new year, because they are not closed, and the balances are carried forward from December 31 to January 1 to start the new annual accounting period. Permanent […]

  • Total Manufacturing Cost: 100% Comprehensive Guide with Formula and Examples

    In addition to profitability, pricing decisions can also impact other strategic objectives, such as market share and customer satisfaction. For example, a company may price its products lower than the competition to gain market share. Whatever the decision, it’s important that it be based on a thorough understanding of product costs and other factors. You […]

  • Inventory Formula + Calculator

    Once 50 wine glasses are sold, the next 50 glasses are set at the $16 value, no matter the additional inventory purchased within that time. Accounting and inventory may seem like two separate yet critical components of any business, but they are linked. Accounting for inventory by calculating inventory in accounting terms is a specific […]

  • Variance reporting: What is it + how to read write a variance report

    It is not always possible to predict with certainty the date activities will take place and often these are beyond the control of a budget holder. In regards to financial close, a financial software automation solution can help achieve efficiency. Download our data sheet to learn how you can run your processes up to 100x […]

  • Bookkeeping Services

    By outsourcing to us, you’ll be free to spend more time on revenue generating activities and capitalizing on new opportunities. You also won’t have to worry about maintaining an accounting department or hiring and paying additional employees. Accounting is the foundation of any business, but bookkeeping alexandria for a small business owner, trying to manage […]

  • Cost Accounting Definition, Principles, & Importance

    Operating costs are the costs to run the day-to-day operations of the company. However, operating costs—or operating expenses—are not usually traced back to the manufactured product and can be fixed or variable. Fixed costs are the costs that keep a company running and don’t fluctuate with sales and production volumes. A factory building or equipment lease would be […]

  • Cost-benefit analysis Formula, Examples, & Steps

    But the concept of CBA as we know it dates to Jules Dupuit, a French engineer, who outlined the process in an article in 1848. Use this free Cost Benefit Analysis Template for Excel to manage your projects better. After enrolling in a program, you may request a withdrawal with refund (minus a $100 nonrefundable […]