Bookkeeping

In Double-Entry Accounting, there are at least two sales journal entry sides to every financial transaction. Every accounting entry has an opposite corresponding entry in a different account. This principle ensures that the Accounting Equation stays balanced. Assets will always equal liabilities and owner’s equity. If a business buys raw materials and pays in cash, …

Accounting Equations: Definition, Components, Formula & Example Weiterlesen »

For example, when used once, the ratio results provide little insight into your business. Measuring and monitoring important AP metrics is made easier with the right tools. Users have access to real-time dashboards to track metrics, such as invoice aging, discounts, rebates earned, payment mix, and more. Firms looking to strengthen their vendor relationships find …

What Is Payables Turnover and How Is It Calculated? Weiterlesen »

Before diving into QuickBooks vs. Excel, it’s important to understand why you need accounting software. QuickBooks Online and Excel are vastly different, but with a little customization, maintenance, and time, Excel can be an adequate accounting system. However, I recommend you use QuickBooks for your core bookkeeping processes and Excel for creating supplemental schedules, reports, …

QuickBooks vs Excel: What to use as your accounting software Weiterlesen »

There are no standard industry guidelines for the format of a proforma invoice, and it might look like a sales invoice. Nevertheless, businesses must have a standard proforma invoice format to make it uniform in all business transactions. Proforma invoices are an easy way to keep your customer in the loop before finalising the transaction …

pro forma invoice Meaning in law and legal documents, Examples and FAQs Weiterlesen »

Labor variance is an accounting measure used to analyze cost rates and efficiencies connected with the compensation expense of employing staff. It’s most often used in manufacturing, where it’s referred to as direct labor variance and most frequently calculated using the staff directly responsible for turning raw materials into finished goods. Effective leadership can optimize …

The New Geography of Labor Markets Weiterlesen »

The indirect cash flow will tell you what happened and the direct cash flow tells you why it happened. Also known as the income statement method, the statement of cash flows direct method is a detailed statement showing where cash is coming from or cash inflows and where it is going also known as cash …

What is the Statement of Cash Flows Direct Method? Formula & Example Weiterlesen »

While deductions can save you money, it’s important to have accurate financial records that you can refer back to when tax season comes to make sure you’re correctly claiming relevant expenses. Dallas also has a VA hospital in the southern portion of the city, the Dallas Veterans Affairs Medical Center. The center is home to …

Background on: Insurance Accounting Weiterlesen »

Activity-based costing simply provides a more refined way to allocate the same overhead costs to products. Under traditional approaches, some idle capacity may be incorporated into the overhead allocation rates, thereby potentially distorting the cost of specific output. This may limit the ability of managers to truly understand and identify the best business decisions about …

Batch-level activities definition Weiterlesen »

We provide quality service by working meticulously in line with our knowledge of US GAAP and guidelines. We’ll work with you to connect accounts and pull the financial data we need to reconcile your books. The magic happens when our intuitive software and real, human support come together. Book a demo today to see what …

Five Star Bookkeeping Services Atlanta, GA by Bench Weiterlesen »

Only project relevant costs and revenue streams should be included in the discounted payback period analysis. The discounted payback period method considers the company cost of capital as a discounting factor. That makes the investment cost-benefit analysis simpler to compare for the company management. It gives greater weight-age to early cash inflows from the project, …

Discounted Payback Period Meaning, Formula How to Calculate? Weiterlesen »